Verhovayak Lapja, 1955 (38. évfolyam, 1-12. szám)
1955 / Verhovay Journal
PAOg< _____________________________________ Verhovay Journal ______________________________November is, 1955. Verhovay Journal Journal of the Verhovay Fraternal Insurance Ass’n. OFFICE OF PUBLICATION West Jefferson Ave. Detroit 17, Mich. PUBLISHED MONTHLY BY THE Verhovay Fraternal Insurance Association Managing Editor: JOHN BENCZE Editor: JOHN SABO Editor’« Office: i.tfi—442 FOURTH AVENUE PITTSBURGH i9. PA. Telephone: COurt 1-3454 er 1-3455 AH articles and changes of address should be sent to the VERHOVAY FRATERNAL INSURANCE ASSOCIATION »86—442 FOURTH AVENUE PITTSBURGH 19, PA SUBSCRIPTION RATES: United States and Canada................................................. |L00 a year “Vjreign Countries .................................................................... $1.50 a year Entered as Second Class Matter at the Post Office at Detroit Michigan under the Act of March 8, 1879. Governor Signs Bill Benefiting Fraternals Governor George M. Leader of the Commonwealth of Pennsylvania signs Senate Bill 428, Act 164 as Senator William Lane, left, co-sponsor of the bill, Washington County, and Lieutenant Governor Roy E. Furman, right, look on. The signing took place September 27, 1955. This bill amends Section 15 of the Act of July 17, 1935 (P L 1092). Assemblymen Robert Hamilton, Beaver County, and Walter Kamyk, Allegheny County, supported the bill in the House, while Senator William Lane, Washington County, co-sponsored the bill in the Senate. The bill was passed without dissenting vote in either legislative body. Governor Leader stated that he was pleased to enact the bill into law, which makes fraternals first class corporate citizens, because of the assistance it gives fraternals and because of the confidence the Governor has in the business ability of the fraternal leaders. Deputy Insurance Commissioner Thomas Balaban, former counsel for the Croatjon Fraternal Union of America, asserted that Insurance Commissioner Francis R. Smith and Deputy Insurance Commissioner Bernard Kelly were receptive to the bill from the very beginning. Fraternals will now be in a better position to meet the rising costs of administration, in the opinion of these three Pennsylvania insurance officers. Section 15 now reads as follows: Funds Securities (a) The funds from which benefits shall be paid and the funds from which expenses of the society shall be defrayed shall be derived from regular monthly or other periodical rates of contribution received by the society and accretions of said funds as apportioned in accordance with the Constitution and laws of the society and no part of any funds set aside for the payment of benefits shall be used for expenses or other purposes except that any such society having admitted assets as shown by its last annual statement filed with the Insurance Commissioner in excess of one hundred per cent of its entire liabilities including its required reserves computed on a net tabular basis may transfer or allocate such excess insurance funds to the expense or other funds of the society in accordance with its constitution and by-laws. (b) Any such society having admitted assets as shown by its last annual statement filed with the Insurance Commissioner in excess of one hundred per cent of its entire liabilities including its required reserves computed on a net tabular basis not lower than the American Experience Table of Mortality with an interest rate of three and one-half per cent may in accordance with its constitution and by-laws provide for the consolidation of its various funds and may report its transactions accordingly Provided that no expenses will be incurred that would impair the reserve base or bases which it is using Except as herein otherwise allowed every domestic society shall invest its funds only in securities and in the manner permitted by the laws of this Commonwealth for the investment of the funds of life insurance companies and in securities of Federal savings and loan associations or of other institutions to the extent that such investment is guaranteed by the United States Government or any instrumentality thereof Unless the ap-Payments for Nationalized Property and of Other Claims in Hungary, Rumania and Bulgaria Recently, the President of the United States signed Public Law 285, 84th Congress, regulating the compensation of U.S. citizens for their property which was nationalized, compulsorily liquidated or otherwise taken after World War II, in Hungary, Rumania and Bulgaria. Also foreseen by this law is the restoration or compensation for the lost property as required by Articles 24-27 of the Peace Treaties with those countries and the payment of obligations arising out of contractual or other rights prior to September 15, 1947. Eligible for the awards are persons who were United States citizens at the time when the property loss occurred. This includes corporations and other associations incorporated under the laws of the United States, provided the majority of their stock holders or members are United States citizens. The aggregate amount vested by this law into the U.S. Treasury for distribution is 34 million dollars (Rumanian share - 25 millions; Hungarian share — 6 millions; Bulgarian share — 3 millions). The eligibility of persons entitled to receive the awards, and the amount of compensation, will be determined by the International Claims Commission in Washington, D. C., according to special procedures. This Commission will begin to receive claims for further consideration in the very near future. The Foreign Services Corporation, an American service agency, incorporated in the District of Columbia, is interested in assisting qualified applicants for compensation. For this purpose, our Corporation has engaged the services of highly competent counsellors, particularly versed in the legal problems of the three countries mentioned above. Prompt filing of claim applications is earnestly recommended. For further information, all interested parties should write immediately to: FOREIGN SERVICES CORPORATION 1624 Eye Street, N.W. Washington 6, D.C. Report from the Cleveland Verhovay Home Recently a grape festival celebration was held at the Verhovay Home in Cleveland, which event was quite successful both from the social and financial standpoint. The traditional parade began at 3:30 in front of the home. Decorated cars in which rode Magyar-costumed girls, women, boys and men were driven thru the main streets of the Hungarian district. The groups made their way back to the Verhovay Home to continue the festivities. Under the direction of Irene Kocsis, dance instructor, the young people’s dancing group performed well the stately Magyar “palotás” dance, which was repeated later. For her hard work and expert direction, Miss Kocsis was presented with a bouquet by the dancers and the branch officers. Naturally, the character of Judge Gabor Gore, with his shepherd’s cloak and mustachio waxed to make pointed ends, enjoyed its high light. Göre Gábor, as the Hungarian order puts it, in the person of Mr. Szászfái, guarded the grapes all evening. No “thief’”’ went unpunished. “Gypsy Kátsa”, portrayed by Mr. Caban, substituted a harmonica in place of the usual violin. His csárdás numbers were well received. The whole affair was a grand round of pleasure and entertainment. Under the leadership of branch president J. Kovach, the entire officer group, vice president D. Kali, J. Szalay, J. Kovács, V. Orbán, G. Bubonic, F. Oravetz, G. Molnár and B. Kastan, were busily giving their services. The fine women responsible for the refreshments were: Mrs. Krabac, Mrs. Szalay, Mrs. Ehasz, Mrs. Ladányi, Mrs. Kadar, Mrs. Izsák, Mrs. Beres, Mrs. Wolf. The people were so reluctant to go home that policeman Gáspár Gombos got a head ache hearing himself repeatedly tell them it was time to depart! Many thanks for a very successful occasion to all who contributed in any way to this fine entertainment, among the contributors being the users of their cars to haul the caravan of fun makers. Any one whose name has been omitted from this worker’s list, please contact the home custodian and recognitio^ will be made. In the next issue a detailed report will be given of the November 19th ’’Desiderius Ivan Song Fest.’’ It is hoped that regular reports on all these socials will appear in the Verhovay Journal. •--------------'-«■'jUsf.-------------Judge Gonas Back From UN Crime Parley South Bend, Indiana’s Judge John S. Gonas, of the St. Joseph Probate- Juvenile Court, recently returned from a two week conference and study of juvenile delinquency at the United Nations Congress in Geneva, Switzerland, at which meeting he had been invited by the Secretary- General of the United Nations. The popular judge is a member of Branch 132, South Bend, Indiana. Sixty-four countries were represented at this parley. Leading judges, sociologists, psychologists, psychiatrists and other experts in the field of juvenile delinquency were present to make their contributions to the cause of alleviating or solving this grave problem. Speaking before the assembly, Judge Gonas gave two speeches cn the Church and Religion. The Judge spoke with a belief and conviction so firm and so sincere that be was highly applauded at the conclusion of his inspiring words. The very complimentary remark that Judge Gonas ' brought religion to the United Nations” was heard again and again. We of Verhovay add our compliments to Judge Gonas for a task eminently done. * • proval of the Insurance Commissioner shall be first obtained in writing no domestic society shall keep or maintain at a place outside this Commonwealth any securities or other assets except such as are necessary for the collection of current dues and to enable it to comply with the laws of any • other state or foreign country for the purpose of transacting business therein.
