Fraternity-Testvériség, 1970 (48. évfolyam, 1-12. szám)

1970-07-01 / 7-9. szám

English Section:

Rt. Rev. Árpád George:

From the Office of the Secretary

DISTRICT MEETINGS

The Spring District meetings were held at Bridgeport, Cleveland, Detroit, Duquesne, Indiana Harbor, New Brunswick and Phoenixville. The meetings were conducted by the Secretary and attended by the local Board of Director members, the District, Section and Branch Managers, the clergy and the Hungarian news media representatives. The National Officers attended the Cleveland, Duquesne, Indiana Harbor and New Brunswick meetings.

The meetings were opened with devotion, whereupon the National Officers gave a report of their respective departments.

President Zoltán Beky extended the official and personal greetings and welcome of the Federation to the attending members and the distinguished guests. He gave a brief summary of the promotional work, the financial standing, the progress made during the past year and the fraternal services of the Federation. Right Reverend Beky praised the Field Force members and thanked the Branch Managers for their dedicated services and hard work throughout the year. He credited their devoted services and steadfast Vork as contributing factors for the great advance and growth the Federation attained in 1969. Dr. Beky also outlined the goal

and the projects of the Federation for 1970 and 1971.

Mr. Paul St. Miklossy, Treasurer, reported that the assets of the Federation increased from $15,344,748.51 to $15,925,641.55 in 1969, an increase of $580,893.94, as compared with the increase of $431,623.73 in 1968. The Federation’s solvency ratio increased from 110.88% to 112.00%. The Dunne’s Insurance Report rates our Federation A+ (Excellent). The 4.27% yield from our invested assets increased to 4.59% in 1969. When funds were available, higher-yielding bonds were purchased to offset some of the lower interest bonds. This improved the portfolio of the Federation and also increased the ratio. The Treasurer claimed that the premium income showed an increasing trend in 1969 and should reach an all-time high in 1970. This was interpreted as the result of improved quality production. Mr. St. Miklossy also emphasized that the premiums should be collected by the Branch Managers punctually and mailed to the Home Office with a monthly regularity. He encouraged the managers to work hard for the Federation’s goal of production with enthusiasm because without new business there is no progress.

The Controller, László Eszenyi, delivered his report interspersed with humorous anecdotes. He had every reason to be in such a happy mood — he explained — because the statistical data for 1969 justified the high hopes he anticipated for this year. The Federation experienced a much lower drop in the membership and number of certificates, and the dues income leveled off. The $1,017,354 increase in our insurance in force and the 112% solvency ratio is best in many years, as is the $580,893.94 increase in assets and the 4.59% yield on our invested assets. He predicted even better achievements based on the trend experienced in the first months of 1970.

The Controller gave a thorough instruction concerning collection of dues and processing different claims at the branch level. The instruction was followec by a question and answer period during which actua

New York and New Jersey Districts meeting in New Brunswick, N. J.

New York and New Jersey Districts Field Force Representatives with the National Officers at meeting in New Brunswick, N. J.

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