William Penn Life, 1969 (4. évfolyam, 1-12. szám)

1969-05-01 / 5. szám

Minutes of the Board of Directors Quarterly Meeting

EXCERPTS - MARCH 17-19, 1969 - PITTSBURGH, PA.

1. The Board of Directors meeting was opened at 10:00 A.M. by National President, Elmer Charles, who welcomed the Board Members and National Officers. While the recent celebration of the Hungarian Revolution of March 15, 1848 was still fresh in our minds and hearts, and being that the William Penn Fraternal Association is an institution of Hungarian heritage he felt it befitting to remember this solemn occasion and addressed his remarks to the group in the Hungarian language. President Charles elaborated on the events which occurred in Hungary One-Hundred-Twenty-One years ago. He described the feeling of the Hungarian people in 1848, and feels that the need is just as great today, as it was then, to have national patriotic spirit and freedom. He touched on some of the 12 points laid down in the revolution of 1848 and how they compare with Hungary of 1969. He informed the members that the first commemoration of the Hungarian Revolution of 1848 on foreign soil was held in St. Louis, Missouri in 1852, and was led by the renowned Louis Kossuth.

President Charles further remarked that it is up to each and everyone of us to promote Brotherhood among ourselves and among our members. He was happy that all members in the official family are well and present.

President Charles paid tribute to the original Founders of our Association who 83 years ago started this organization and hopes that we, as its leaders today, will continue to work and plan for its future growth.

He extended best wishes to the Board and the Officers from former Chairman of the Auditing Committee, Gaspar Papp.

The Board Members and National Officers pledged allegiance to the flag. Director Rev. Andrew P. Jacobs offered the invocation.

The Board Members and National Officers stood for a moment of silence in memory of our deceased brothers and

sisters.

2. Board Chairman, John P. Balia, officially calls the meeting to order. He extends cordial greetings to the Board Members and the National Officers and hopes this meeting will bring wise decisions for the best interest of the Association.

3. Secretary of the Board, Frank J. Radvany, calls the roll and the following are present: — Elmer Charles, National President; Louis L. Varga and Julius J. Lenart, Vice Presidents; Directors: John P. Balia, Frank Bero, Stephen Danko, Michael Hegedűs, Stephen J. Ivancso, Rev. Andrew P. Jacobs, Dr. Andrew Kovács, Stephen Lang, Jr., Frank J. Radvany, Joseph Toma, Louis Vassy, and Frank J. Wukovits, Sr., and Officers:

Albert J. Stelkovics, National Secretary, John Sabo, National Controller and Budget Director and Julius E. Somogyi, National Treasurer.

In addition thereto, Gay B. Banes, General Counsel and Dr. Samuel C. Gomory, Medical Director were also present.

4. The Agenda is presented to the Board and same is adopted with the provisio, that any matter properly belonging before the meeting may be added thereto during the course off the meeting.

5. The Annual Statement of the William Penn Fraternal Association for 1968 was reviewed.

It was moved, seconded and adopted this Annual Statement be accepted and filed.

6. Dr. Samuel C. Gomory, Medical Director, now submits his report for 1968.

It was moved, seconded and adopted that the Board accept the report of the Medical Director, with a sincere acknowledgement of thanks and same be placed on file.

7. President Charles reads a telegram from William C. Kohut, Chairman of the Auditing Committee, extending best wishes for a very successful meeting. Branch 132 of South Bend, Indiana, also sends its greetings to the Board. Branch 249 of Dayton, Ohio extends best wishes for a successful meeting.

8. Supervisor of Agencies, Joseph Toma of Zone I, Supervisor of Agencies, Gus G. Nagy of Zone II, and Supervisor of Agencies, Frank J. Wukovits of Zone III read their reports to the Board with reference to Field Operations.

It was moved, seconded and adopted by the Board to accept these Reports of the Supervisors of Agencies as a basis for further deliberation.

9. A lengthy discussion ensued with regard to revised Underwriting Rules dated January 20, 1969 as prepared by the Staff in accordance with Board instructions at the December, 1968 meeting. After certain modifications were voted upon, the revised Underwriting Rules were approved and these will be sent to all field personnel.

10. General Counsel Banes reports that the North Allegheny Investment Inc. mortgage loan has been repaid to the Association as of this date.

11. It was moved seconded and adopted by the Board that Field employees wiU be eligible for Fringe Benefits from the Association 90 days after date of employment instead of as presently provided in the Board Fringe Benefit Program.

12. The Board authorizes the Staff to study the feasibility of the Check-O-Matic system of premium payments and report their findings to the Board.

13. It was moved, seconded and

adopted by the Board to accept the report of Joseph Toma, Supervisor of Agencies, Zone I.

14. General Counsel Gay B. Banes reads his report to the Board, which is accepted for further deliberation.

15. It was moved and seconded that Point 55 of the Minutes of the Board of Directors Meeting hid Wednesday, December 11, 1968 be rescinded on the basis of an opinion rendered by General Counsel Gay B. Banes in his report dated March 14, 1969.

16. It was moved, seconded and unanimously adopted by the Board that retroactive to January 1, 1969, the annual salaries of the National Officers for 1969 be as follows:

National President $20,000.00

National Secretary $18,500.00

National Treasurer $17,500.00

National Controller and $17,500.00

Budget Director

17. It was resolved by the Board that the General Counsel’s report be accepted and a copy be attached to and be made a part of the minutes.

18. The Board hears a report by General Counsel Gay B. Banes, a member of the Real Estate Committee, with reference to progress on the proposed new building and the plans the county has for blocks A-B-C which are now waiting finalization by the Board of Commissioners of Allegheny County.

In conjunction with this request the Board discusses the National President’s Report pertaining to the new building program. It is then resolved by the Board that the Real Estate Committee proceed with necessary discussion and agreements with the interested parties.

19. The Board acknowledges the report of the Investment Committee.

20. Board Chairman, John P. Balia, now introduces Mr. Robert E. Bruce, our Actuary, who presents his report to the Board. Following the reading of same, the Board proceeds to discuss same in detail.

During the deliberations many questions were asked pertaining to acquisition costs of new business, persistency of same, general operating expenses, etc. A comparative chart of 10 other fraternal societies operations was studied and this revealed our Association to be in many respects above average in its operations.

It was moved, seconded and adopted by the Board to accept the Actuary’s Report.

21. The Board acknowledges receipt of letters of thanks and appreciation from the families of John Bozsvay, Mrs. Andrew Balogh, Alex Papp, Joseph Vasas and the Bozsik family for floral tributes sent in their bereavements.

22. The Board acknowledges receipt of letter off thanks and appreciation from the American-Hungarian Studies Founda-5