Fraternity-Testvériség, 1972 (50. évfolyam, 1-12. szám)

1972-04-01 / 4-6. szám

Mr. Paul St. Miklossy, treasurer, reported that the Federation’s assets increased by $422,983.82 and at the date of the Convention its assets will surpass the amount of $17 million. The Federation gave $5,335,978 in mortgages to the congregations in the United States and $188,000 to the Canadian churches. The present amount of the outstanding mortgages to the United States and Canadian churches is almost two million dollars. The valuation ratio of assets to liabilities increased from 112.02 to 113.36. Our ratio of net interest income to means assets also increased from 4.81% to 4.96%. This shows that the Federation’s assets are of improving; good quality.

László L. Eszenyi, Controller, gave a condensed report on the standing of the Federation as of December 31, 1971. He pointed out that after two outstanding business years we suffered a slight set-back in certain areas of our operation during 1971.

The darkest spot is the continued decline of the membership and certificates. We had, however, a net increase of $357,946 in insurance in force despite the adverse economic conditions.

Due to the fine result of our investment transactions, our assets went up to $16,991,712 and our solvency ratio reached the unprecedentedly high 113.37 level.

During the question and answer period, the Controller gave instruction to the branch managers concerning collection of dues and claim settlement.

The Secretary pointed out that although 1971 was the best year in our gross production, the recession greatly reduced the net production because of the large amount of first and second year lapses. Unemployment affected economically the Hungarian communities located adjacent to the great industrial centers the hardest. In spite of the recession, our insurance in force increased in 1971. The Secretary also pointed out that the decrease in number of certificates and membership due to cash surrender requests just about equaled the number of certificate and membership loss suffered by the Federation in 1971. The answer to this vital problem, which could affect the very existence of our Federation, might be CONSERVATION. Our conservation plan will start on July 1, 1972. Saving cash surrenders is a must for our Federation. Whenever a policy cannot be saved, then it should be replaced with a new certificate. At the meetings the Secretary introduced the members of the Board of Directors, the District, Section and Branch Managers, convention delegates and guests. He thanked Rev. Imre Bertalan, Joseph Molnár, William Puskas, Alexander Hody, Albert St. Miklossy and Mrs. Ida Bankó for sponsoring and working hard for the success of the New Jersey Fraternity Day attended by 400 persons.

BISHOP ARPAD L. BERECZ:

A LABOR OF LOVE

In his letter to the Thessalonians * the Apostle Paul writes: “Your faith

1 has shown itself in action, your love

“ 4^. A in labor and your hope of our Lord Jesus Christ in fortitude” (I. Th. 1:3). These words of scripture liest describe, I believe, llir life and work ■ of our Hungarian Befonnod l-'edera- tion of America.” It was born in faith. From the beginning it manifested that faith in action. It sought to meet the needs of widows, orphans, refugees, the aged and the sick. The victims of natural and man-made disasters were given help and succor. The Federation became the mission arm of our churches.

In a unique way the Church and the Federation became interrelated in such a way that the welfare of one was reflected in the welfare of the other. Yet, there were times when strict lines of demarcation were drawn in order to preserve the separate functions of each. In such times the work of both Church and Federation suffered. Body and soul cannot be separated.

But love manifested itself in labor. Then tlie churches flourished, buildings were erected, sanctuaries built. The financial aid and assistance of the Federation made it all possible. And men said that which had been said of the first Christians: “See, how they love one another”. Christian fraternity was a living and visible reality.

Even now the ministry of love continues to express itself in the work and concern of our Bethlen Home for the Aged and the Sick as it plans to expand its welfare responsibilities.

Our hope is in the Lord Jesus Christ. It is in this hope that we have our future and our work. With unyielding fortitude our Federation continues to prepare the youth of our churches to be the leaders of our common faith and our common work. The heritage and the traditions of our forefathers is a precious legacy— not only for us but for our nation and for the world. Its preservation and development must be of utmost concern to us all.

If Churcli and Federation are two sides of the same coin, namely, Faith and Works, then we both have a mandate from God to seek for oneness of purpose, goal and mission in the unity of our common Reformed Faith.

Our Calvin Synod prays, and will continue to pray, for the success of our Hungarian Reformed Federation as it endeavors to serve both God and man.

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