Fraternity-Testvériség, 1971 (49. évfolyam, 1-12. szám)
1971-04-01 / 4-6. szám
upon at our Investment Committee meetings. We met 56 times during the year. As Secretary of the Committee, the minutes of these meetings are in my file. With the authorization of the President, with my fellow officers, whenever occasion arose, I inspected prospective mortgage properties and reported to the Investment Committee. On all mortgages we had the legal opinion of our Counsellors, Alex B. Eger, Jr. in the United States and Elmer J. Isaac in Canada, before any funds were disbursed. For their cooperation I extend my appreciation. b. Certificate Loans* Loan on certificates of members, December 31, 1970: United States of America...............................................$575,139.10 Canada ............................................................................. 1,984.24 TOTAL.............................................................................$577,123.34 * The Office of the Controller keeps an itemized record of this item. SUMMARY December 31, 1970 a. Mortgages ...............................................................$6,267,563.90 b. Certificate Loans and Liens ................................ 577,123.34 TOTAL ..............................................................................$6,844,687.24 V. REAL ESTATE SUMMARY OF REAL ESTATE December 31, 1970 a. Property occupied by the Federation: III. Branch Office, Bethlehem, Pa.........................$ 92,719.94 IV. Branch Office, Cleveland, Ohio ......................... 71,070.72 V. Home Office, Washington, D. C.................. 408,514.03 VI. Branch Office, Detroit, Michigan................... 17,504.03 VIII. Branch Office, Columbus, Ohio ........................ 28,921.52 Total ......................................$ 618,730.24 $ 618,730.24 b. Property acquired in satisfaction of debt: XI. Chino, California ...................$ 33,808.63 XIV. Newark, N. J........................... 109,508.55 XV. Morristown, N. J..................... 274,835.36 Total ......................................$ 418,152.54 418,152.54 Total Real Estate owned by Federation, December 31, 1970 ...............................................$1,036,882.78 DUES FROM BRANCHES & ESCROW AGENT December 31, 1970 VI. DUE FROM BRANCHES Due from Branches: a. United States ...............................................$316.80 b. Canada ........................................................... 252.93 Total...................................................................$569.73 $569.73 Due from Escrow Agent (R.E. XIV.) ........................... 2,339.09 TOTAL ...............................................................................$2,908.82 VII. STATEMENT OF LEDGER ASSETS Our Ledger Assets increased from $15,925,641.55 to $16,- 568,728.72 in 1970, an increase of $643,087.17, as compared with the increase of $580,893.94 in 1969. Our ratio of assets to Labilities increased from 112.00 to 112.02%, and the ratio of net investment income to means assets from 4.59% to 4.81%. Ledger Assets Total Dec. 31, 1970 United States Canada Book Value 1. Cash on Check Accounts ...................$ 87,110.33 $ 80,197.15 $ 167,307.48 2. Petty Cash ........... 400.00 —400.00 3. Bonds ..................... 8,401,368.52 115,173.88 8,516,542.40 4. Mortgage Loans .. 6,049,033.28 218,530.62 6,267,563.90 Certificate Loans.... 575,139.10 1,984.24 577,123.34 5. Real Estate. 1,036,882.78 —1,036,882.78 6. Due from Branches & Escrow Agent......... 316.80 252.93 R. E. XIV. cash with agent........ 2,339.09 2,908.82 TOTAL ...............$16,152,589.90 $416,138.82 $16,568,728.72 I express my sincere thanks and appreciation to Elizabeth Balazs, Secretary, and to Mrs. Iren Simon, Bookkeeper, for their faithful service and cooperation in my department. Mrs. Simon was transferred to the Treasurer’s Department from the Controller’s when Mrs. Agnes Harsanyi resigned in July, 1970. To my fellow officers and the employees at the Home Office and on the field I extend my thanks for their ready cooperation. I submit my 1970 Treasurer’s Report, trusting that upon examination, it meets with your approval and acceptance. Fraternally yours, Paul St. Miklossy, Treasurer Washington, D. C., March 29, 1971 18
