Verhovayak Lapja, 1955 (38. évfolyam, 1-12. szám)
1955 / Verhovay Journal
MAY 28-29, 1955, CHICAGO, ILLINOIS RAGE 2 Verhovay Journal May 18, 1955 Verhovay Fraternal Insurance Association CERTIFICATE of AUDIT The books and accounts of the Verhovay Fraternal Insurance Association were audited for the six months beginning- July 1, 1954 to and including December 31, 1954, and certification is made to the correctness of the financial schedules for the abovementioned period as stated in the published -records of the Verhovay Fraternal Insurance Association. The income accounts were first examined and verified, i.e,; total branch remittances as shown on branch treasury slips were checked against those amounts officially shown in the tabulated monthly dues ledger; all interests received were traced to the bank deposit slips and ledgers; the same check was made on rentals obtained from the Home Office Building, and the interests received from the various mortgage loans; a physical count and inspection verified stock dividends credited to our Association; the profit on sold and called bonds also verified; and each deposit was checked ag-ainst the bank statement entries. The Petty Cash account in the Treasurer’s office was examined and found to be in balance. The Bonds of our Association were examined at the Mellon National Bank and Trust Company, and found to be as officially listed. The examination of these securities disclosed that as of December 31, 1954, the total book value of the bonds was $13,795,863.50, distributed as follows: U.S. Government Bonds $1,541.364.09 Industrials 810.963.36 State & Municipals 3,544,892.63 Canadian Municipals 113,418.45 Railroads 907,088.93 Railroad — Eq. Trust Cert. 183,296.40 Public Utilities 6,694,839.64 $13,795,863.50 Our asset.s and their distribution as )\vs: of December 31, 1954, were Bonds $13,795,863.50 Stocks 4S,617.98 Savings Accounts 44.209.36 Commercial Check Accounts 66,958.52 Certif. Loans and Liens 566,160.54 Real Estate — Branches 40,513,78 Real Estate — Home Office 114,149.98 First Mortgage Loans 551,193.27 Accounts Receivable 950.00 $15,228,616.93 The members of the Auditing- Committee thoroughly checked the accuracy of the items listed above, and the Committee found the extensions and computations correct. Papers dealing with many of the above-listed items were obtained together with ledgers and books of account and verification obtained to our entire satisfaction. Considerable time was devoted to the examination of the disbursements made by our Association in the various departments, such as general, commissions and salaries, loans and trust fund, sick benefit, dividends. In the examination of these items, each individual check disbursed was accounted for; furthermore, supporting papers and vouchers were carefully scrutinized for all items charged to the general expense fund. No discrepancy was found in the issuance of any check, and no violation of any of our by-laws was noted in tne payment of any check. The Total Assets as of December 31,1934 $15,228,616.93 and the total assets as of June 30, 1954 were 14,817,275.40 thereby showing a net increase of $ 411,341.53 The net increase for the entire year of 1954 showed $953,419.70. Once again the Auditing Committee views with alarm the large numbers of lapses and cash surrenders experienced during the past six months. And this situation is expressly critical in a few districts where full-time men are employed to oversee and direct the interests of our Association. This situation needs correction. Those professional men and women who are still indebted to our Association for their Scholarship Loans are in a most fortunate position to help our needy student members. They can greatly assist by repaying their loans promptly. Until they do, unfortunately, no monies are available for new scholarship loans. Please cooperate now. Members are requested to cash dividend checks promptly. Failure to do so throws an additional work burden on the staff of the Home Office. We commenced our examination April 11, 1955 and completed , it on April 23, 1955. AUDITING COMMITTEE CASPAR PAPP, WILLIAM C. KOHUT, ANDREW BANDY Peter Petruska New District Manager Milwaukee, Wisconsin was made a Verhovay district when the city’s two branches, 275 and 475, merged under the name Branch 275 on April 1, 1955. A local professional man, Peter Petruska, who has shown high interest in fraternal life and sports activities, was the Verhovayan appointed to manage the new district. Mr. Petruska is a photographer who has been in the Milwaukee area for more than twenty years, havingpractised his profession this number of years at Lake Mills before returning to Milwaukee after a spell as motel operator in Florida. He learned photography in Kispest, Hungary. A native of Barcs, Somogy County, Hungai’y, Mr. Petruska is married to the former Helen Toth. They have three children, a son who is a graduate of the University of Wisconsin and is now sports coach at a high school, a daughter who is a nurse at the Milwaukee County Hospital, and an eight year old daughter. District Manager Petruska’s address is:. 525 North 63 St., Milwaukee, Wis., telephone GReenfield 6-C058. The members are urged to cooperate fully with the new district manager for the welfare of the branch. Branch 278, Omaha, Nebraska Observes.40th Anniversary April 24, 1955 will ever remain a great day in the annals of this Midwestern Verhovay branch which then celebrated the 40th anniversary of its founding. And it is significant too that in an area of the country where there are so few members of Verhovay, especially Hungarian Americans, that such an elegant occasion could take place, but fraternalism overrules fewness. The Verhovay Fraternal Insurance Association itself was represented by the presence of National Treasurer John Szalanczy, himself a Midwesterner from Chicago. The dinner and dance, well attended by both the young and the old, was a fine gesture of the unity existing in Branch 278. The affair was opened by Louis r Beszedes who introduced the master of ceremonies, Joseph Kish, after which the members gnd guests sang “God Bless America.” Many letters were read by the toastmaster, messages of greetings and best wishes to Branch 278. Among- the well-wishers were Governor Victor Anderson and Mayor John Roseblatt. The Mayor, who could not appear at the event, was capably represented by Fire Chief Simon A. Simon. The letters of greetings were addressed to branch president Louis Simcho who was recuperating from an illness. Gaspar Kuti, branch manager, accepted the messages. Mr. Kuti was among the first speakers. He brought up the names of the deceased members of Branch .278, who, he said, did *not live to take part in this great branch festival. Fire Chief Simon then expressed his best wishes to the branch and greeted National Treasurer Szalanczy. Joseph Fabian, president of the Omaha Hungarian Home and a member of Branch 278, in his.speech appealed to the younger members to follow the fine example set by their elders in promoting the best interests of their organization. Next speaker was National Treasurer John Szalanczy, addressing the audience in both Hungarian and in English. Mr. Szalanczy reviewed, especially for the members of the second generation, the history of the founding of Verhovay by 13 coal miners who organized the society in 188C to assure one another some protection in event of illness, old age or death. He compared the establishment of Branch 278 to the creation of Verhovay itself, stating that there were only 18 members when Branch 278 was formed, and further stating that the branch today shows a membership of 191 adults and 65 juveniles. From the actions taken by our members in Hazleton, Pennsylvania, where our society was founded, to the later action in Omaha, the small acorns grew into mighty oaks which today guarantee safety and protection in times of need. National Treasurer Szalanczy gave much credit for Branch 278’s progress to its manager, Gaspar Kuti, and he asked all the members of this branch to turn to Mr. Kuti confidently in any matters pertaining to insurance or their Verhovay membership. Speaking in English, the National Treasurer requested that those born in this country respect the lands of their ancestry, while at the same time remaining firm and loyal Americans. There are five living charter members of Branch 278. National Treasurer Szalanczy presented appropriate awards to founders Joseph Fabian, Mrs. Simcho and Mrs. Kutka, who attended. The other two founding members, Dr. Louis Bartko and Blasius Sárközi, did not attend because they no longer live in Omaha, but they telegraphed their warmest greetings. i The first officers of Branch 278 were Joseph Csapó, Joseph Mecsei, Andrew Kovalik, Blasius Sárközi and Dr. Louis Bartko. It was a beautiful anniversary celebration at Branch 278, Omaha, Nebraska. Notice to Chicago Area Branches (Continued from page 1) \ ou are assured that this beautiful affair is open also to ; your non-meniber friends, who likewise will enjoy the dinner and dancing to the popular and versatile Szepessy Orchestra. Tickets may still be obtained from the following: ERNEST C. TAYLOR FRANK T. KAJDI DISTRICT MANAGER DISTRICT MANAGER 4000 W. NORTH Ave„ Room 329 11443 S. MICHIGAN AVENUE CHICAGO 39, ILL. CHICAGO 28. ILL. HUmbolt 9-2933 COmmodore 4-3718 MICHAEL TOTHFALUSI DISTRICT MANAGER 723 W. CHICAGO AVE. EAST CHICAGO, IND. RUssell 5450
