Verhovayak Lapja, 1952 (35. évfolyam, 1-12. szám)
1952 / Verhovay Journal
# PAGE 4 Verhov ay Journal November 19, 1952 Verhovay Journal Journal ol the Verhovay Fraternal Insurance Ass'n. OFFICE OF PUBLICATION 79U7 West Jefferson Ave. Detroit 17, Mich. PUBLISHED MONTHLY BY THE Verhovay Fraternal Insurance Association Managing Editor: JOHN BENCZE „ Editor: JOHN SABO Editor’* Office: m—442 FOURTH AVENUE PITTSBURGH It, PA. Telephone: COurt 1-3454 or 1-3455 All articles and changes of address should be sent to the VERHOVAY FRATERNAL INSURANCE ASSOCIATION 43>—442 FOURTH AVENUE PITTSBURGH 19, PA. SUBSCRIPTION RATES: United States and Canada ................................... fl.00 a year Foreign' Countries .................................................... S1.50 a year Entered as Second Class Matter at the Post Office at Detroit, Michigan under the Act of March 3, 1879. VERHOVAY FRATERNAL INSURANCE ASSOCIATION CERTIFICATE OF AUDIT We have audited the books and accounts of the Verhovay Fraternal Insurance Association for the six months beginning January 1, 1952, and ending June 30, 1952, and We certify to the correctness of the financial schedules for the abovementioned period as shown in the Semi-Annual Statement published in the1 August 20, 1952, issue of the Verhovay Journal. An examination was made of all income accounts consisting of Interest on Mortgage Loans, Real Estate Loans, Membership Certificate Loans, Bonds, Bank Deposits; All receipts from Verhovay Branches, Trust Deposits, Home Office Building, Handling Charges, Stock Dividends, Profit on Bonds Sold, and other minor miscellaneous income. All of the above income items were verified as having been received, and traced back into the various ledgers and journals. The Bank statements were reconciled for the period under examination and the Petty Cash Fund verified. » The securities of our Association were examined in the vaults of the Mellon National Bank and Trust Company, and verified. The examination of these securities disclosed that as of June 30, 1952 there was a total book value of $11,671,944.74, distributed as follows: United States Government Bonds Industrial Bonds Municipal Bonds Railroad Bonds Railroad Equip. Tr. Certif. Public Utilities Bonds $1,771,850.21 551,236.37 2,498,682.22 910,568.85 87,961.50 5,851,645.59 Our examination further verified the fact that all bond coupons were promptly presented for collection when due, and that all monies thus obtained along with those funds received from the sale of securities were promptly credited to our account. A very careful, detailed analysis of all monies disbursed by our Association was made for the six months pei'iod under study. It covered such items as Death Benefit, Sickness and Accident, and Permanent Disability Claims, Cash Surrenders, Medical Examination fees, all salaries, commissions and collection fees, Home Office building, Official publication, advertising, traveling expenses, Dividends paid on policies issued since January 1, 1949. and all other payments made and listed under the disbursement heading, and included in the totals of the six months period. All vouchers and supporting papers for these payments were carefully scrutinized and all payments were found to have been made according to the provisions of the By-Laws of our Association. The accounts of the 9th Annual Verhovay National Bowling Tournament, held in Columbus, Ohio, May 29th to and including, May 30th, 1952, were audited and found correct. Branch Managers throughout the Verhovay realm can greatly assist our Association as well as the Auditing Committee in its work by having all dividend checks cashed promptly. It can be stated that our examination definitely ascertained that the official data as published by the Home Office in the official Journal of our Association from month to month, presented a true and accurate picture of the financial condition of j>ur Association. The Statement of Assets as of the first auditing period of 1952, i. a., January 1, 1952 to June 30, 1952, is as follows Six Month Period Ending: June 30, 1952 Jan. 1, 1952 Assets $12,954,150.47 12,517,769.26 Net Increase $ 436,381.21 Our examination commenced September 29, 1952, and was October 11, 1952. AUDITING COMMITTEE completed CASPAR PAPP ANDREW BANDY WILLIAM C. KOHUT ENDOWMENT AT AGE 70 Mr. Thomas Csiszár would tell you that reaching age 70 is not a gloomy prospect when it is accompanied with good health and a financial nest egg. Here you see Mr. Csiszár, member of Branch 443, Detroit, Michigan receiving his Endowment at Age 70 check for $1000 from the nan..~er of Branch 443, District Manager Joseph Szabó. The happy event took place October 18, 1952 in Wyandotte Kijéig,m. Mr. Csiszár, a forward looking man, has other Verhovay insurance because he has the welfare of his loved ones in mind. His entire family isl Verhovay insured and protected. MILWAUKEE VERHOVAYAN OPENS LAW PRACTICE The Sinitz name has long been well-known among the Milwaukee, Wisconsin Verhovay members and the Hungarians in that large city. Popularity o? the name has been due in the main to the energetic manager of Branch 475, located in Milwaukee, Mrs. John Sinitz whose Verhovay activities could easily fill a large account in a report on Verhovay branch life. We may mention briefly that just this year the female Milwaukee branch manager captained one of the Branch 475 women’s teams that traveled to Columbus, Ohio to participate in Verhovay’s National Bowling Tournament. Now we are informed that John Sinitz, J., son of Branch Manager Mrs. John Sinitz, has begun the practice of the legal profession with a partner, David H. Sinner, at 522 North 13th Street in the City of Milwaukee. It does us good to know that another of Hungarian youth shall add credit to the Magyar kind by the dignity of his calling. Hungarians embracing careers of public nature lend sustenance to a better knowledge of the Hungarian people, and this is what Attorney John Sinitz, Jr. shall do. John Sinitz, Jr. has been a Verhovay member for approximately 16 years. He graduated fx'oin West Division High School of Milwaukee in 1943, entered Lawrence College in Appleton, Wisconsin and completed four semesters. Next he served in the United States Navy from 1944 to 1946. This was followed by his enrollment at Marquette University, Milwaukee where be received a bachelor of philosophy degree in 1949. The same year he entered the University of Wisconsin Law School and graduated with a bachelor of laws degree in 1952. While in undergraduate school he was affiliated with Delta Tau Delta and served as High Chancellor in 1951 with Gamma Eta Gamma. He is active in sports, soccer and bowling, sponsored by the Milwaukee Athletic Club and the Milwaukee Hungarian Tigers Sport Club, both of which are affiliated with the United American Hungarian Society of Milwaukee. Sinitz’s law associate, David H. Sinner, graduated from Custer High School, Milwaukee, in 1944. He spent the next two years in the United States Navy. He entered the University of Wisconsin in 1946 and received his bachelor of laws degree in 1952. He is affiliated with Gamma Eta Gamma. Sinitz himself very recently wrote us to inquire about the various forms of Verhovay insurance. He informed us that he and his partner are quite interested in selling Verhovay insurance and in acquiring more members for the Association. This gesture is surely the Sinitz Verhovay spirit! We take this opportunity to wish the two young lawyers, Sinitz & Sinner, by the way a splendid sounding name combination, good luck in their legal careers. ATTENTION ALL MEMBERS Payment of monthly dues in the month of December, 1952, should be made as early as possible to give your branch manager an opportunity to forward his December monthly report in time to reach the Home Office no later than December 31, 1952. The Home Office must close its records for the year 1952 as early as possible after December 31st so that work may be started on the very detailed and exacting annual statement and valuation reports required by the various insurance departments. Your cooperation will be appreciated very much. t
