Fraternity-Testvériség, 1964 (42. évfolyam, 1-12. szám)
1964-07-01 / 7. szám
FRATERNITY 7 Recording Secretary of the Investment Committee, I took down the minutes of these meetings, which are on file in my office. Loans are divided into two groups: Mortgage Loans, and Certificate Loans and Liens. a) MORTGAGES On December 31, 1963 .....................................................................$5,323,274.52 On December 31, 1962 ..................................................................... 5,011,093.51 Increase in Mortgages for 1963........................................................$ 312,181.01 During the four years the Federation gave first mortgage loans in the amount of $5,372,439.46. On all mortgages we had the legal opinion of our Counsellor, Albert A. Fiok, who has been most cooperative in all matters presented to him, for which I extend my deepest appreciation. b) CERTIFICATE LOANS AND LIENS These are kept on file by the Controller in his office. Summary of Loans Mortgages.................................................................................................$5,323,274.52 Certificate Loans and Liens ............................................................... 437,455.33 Total.............................................................................$5,760,729.85 VII. — DUE FROM BRANCHES 1960 1961 1962 1963 $1,231.87 $1,355.52 $ 735.37 $1,039.01 VIII. — REAL ESTATE OWNED Real Estate Date Acquired Book Value Market Value Bethlehem, Pa....................................... 1956 $ 81,188.87 $ 75,811.77 Cleveland, Ohio ................................. 1961 65,671.80 62,665.19 Washington, D. C............................... 1961 366,421.74 366,421.74 Detroit, Mich......................................... 1962 17,504.03 16,803.87 Flemington, N. J............................... 1962 115,127.65 115,127.65 Total.....................................................................$645,914.09 $636,830.22 Real Estate Owned by the Federation: December 31, 1963 ........................................$645,914.09 $636,830.22 December 31, 1959 ........................................ 348,879.37 364,510.09 Increase in Real Estate........................................$297,034.72 $272,320.13
