Fraternity-Testvériség, 1967 (45. évfolyam, 2-12. szám)
1967-04-01 / 4. szám
LOANS: Our Investment Committee held 61 meetings during the year, where all mortgage loan requests, the purchase and sale of securities and other matters were presented and acted upon. Upon the authorization of the President, together with a fellow officer, I inspected various prospective mortgage properties, and reported to the Investment Committee. On all mortgage documents we had the legal opinion of our Counsellor, Alex B. Eger, Jr., before any funds were disbursed. He was most efficient and prompt in handling all legal matters to protect the interest of the Federation. On Dec. 31, 1965 in the U.S. in mortgages we had $6,589,223.08 Decrease in U.S. mortgages in 1966 ...................—225,054.61 Balance of mortgages in the U.S. Dec. 31,1966 was $6,364,168.47 On Dec. 31, 1965 in Canada in mortgages we had $ 30,000.00 Increase in Canadian mortgages in 1966 +55,705.96 Balance of mortgages in Canada Dec. 31.1966 was $ 85,705.96 V. LOANS December 31, 1966 a. Mortgages Balance. December 31. 1965 ..........$6,589,223.08 $30,000.00 New Mortgages in 1966 83,500.00 58,000.00 Total $7,392,723.08 $88,000.00 Principal payments in 1966 1,028,554.61 2,294.04 Balance of Mortgages, Dec. 31.1966 $6,364,168.47 $85,705.96 STATEMENT United States Mortgages ...............$6,364,168.47 Canadian Mortgages .......................... 85,705.96 Total Mortgages ...............................$6,449,874.43 b. Certificate Loans Loan on certificates of members, Dec. 31, 1966 $455,606.16 *The Office of the Controller keeps an itemized record of this item. SUMMARY December 31, 1966 a. Mortgages ......................................$6,449,874.43 b. Certificate Loans & Liens ........ 455,606.16 Total ...........................................$6.90&5.480.59 VI. DUE FROM BRANCHES Total $3,587.59 REAL ESTATE: VII. REAL ESTATE Real Estate Date Acquired Book Value Mkt. Value III. BRANCH OFFICE: Third Ave. & Evans St. Bethlehem, Pa. 1956 Cost to Federation: $ 88.557.39 Improvements in 1966: +1,076.00 December 31, 1966 $ 89.633.39 $ 81.188.69 IV. BRANCH OFFICE: 11213 Buckeye Road Cleveland, Ohio 1961 Cost to Federation: $ 63,001.80 Improvements in 1966: +8,068.92 December 31. 1966 ...........................$71,070.72 64,402.56 V. HOME OFFICE: 3216 New Mexico Ave., N. W. Washington, D. C. 1961 Cost to Federation: $410,070.46 Depreciation in 1966: —1,556.43 December 31, 1966 ........................ $408,514.03 387,463.59 VI. BRANCH OFFICE: 3719 Fort St. Detroit, Michigan 1962 December 31, 1966 $ 17,504.03 $ 15.753.63 VII. FLEMINGTON, N. J.: New Jersey Route 69 1962 December 31, 1966 ..........................$115,127.65 $115,127.65 VII. BRANCH OFFICE: 323 Woodrow Ave. Columbus, Ohio 1966 December 31, 1966 $ 25.000.00 $ 24.750.00 IX. NEWARK. N. J. 699 Springfield Ave. 1966 December 31, 1966 ..........................$155,318.72 $155,318.72 TOTAL: $882,168.54 $844,044.84 A new property at 323 Woodrow Avenue in Columbus, Ohio was purchased August 2, 1966 for a branch office and Fraternal Hall for $25,000.00 The building is called HRFA. Branch 69, Fraternal Hall, and is managed by elected officers. VIII. STATEMENT OF LEDGER ASSETS December 31, 1966 MI. CASH AND BANK DEPOSITS: I. Cash on Check Accounts: a. U.S. bank $ 86,526.94 b. Canadian bank 14.398.98 $ 100.925.92 II. Savings Deposits ...................... 16.890.40 $ 117.816.32 III. PETTY CASH 400.00 IV. BONDS: Par Value Book Value a. U.S. bonds $6,623,500.00 $6,533,474.19 b. Canadian bonds 70,000.00 64,890.93 6.598.365.12 $6,693,500.00 V. LOANS: a. Mortgages: 1. U.S.................$6,364,168.47 2. Canada 85,705.96 $6,449,874.43 b. Certificate Loans & Liens 455.606.16 6.905.480.59 VI. REAL ESTATE: a. Property occupied by the Federation ..............$ 611,722.17 b. Property acquired in satisfaction of debt 270.446.37 8 82.168.54 VII. DUE FROM BRANCHES & EXCHANGES: 3.587.59 TOTAL LEDGER ASSETS $14,507,818.16 IX. UNLISTED ASSETS December 31. 1966 TOTAL ........................................... $12,115.94 X. STATEMENT OF THE ORPHANS TRUST FUND* December 31, 1966 STATEMENT *Orphans Trust Fund $ 21.348.43 $5,007.84 $ 26.356.27 ^Unclaimed Matured Endowments 92.546.78 —0— 92.546.78 TOTAL IN UNCLAIMED TRUST FUND, Dec. 31, 1966: $113,895.21 $5,007.84 $118,903.05 *The Office of the Controller keeps an itemized record of these items. 13
