Verhovayak Lapja, 1946 (29. évfolyam, 1-52. szám)
1946 / Verhovay Journal
September 25, 1946 Verhovay Journal Page 5 The Verhovay Album of Branch Managers CHARLES A. YOUNG —BRANCH 383 — BUFFALO, N. Y. One of the most colorful personalities among second generation Verhovay branchofficers, an outstanding sportsman, , fraternalist, promoter, publicist, is “Charlie” Young, who works since 1932 at the Experimental Engineering Department of the DuPont De Nemours Co. Born in Perth Amboy, N. J., on March 5, 1909, he joined the Verhovay as a child in Campbell, O., entered the boxing ring at the age of 17 in the middle-weight and light-heavyweight classes, winning the District and State championships, boxing on intercity team matches in Detroit, Pittsburgh, Cleveland, Boston and the Madison Square Garden in New York City, retiring at the age of 24 after winning 111 bouts, a large number of them by knockouts, and losing only 28, all by decision, never having been K. O.-ed (“ran too fast for the opposition”), he modestly asserts. After quitting the ring, he married the former Helen Vereb, on June 9, 1934. They have two daughters, Jean Annette, 10, and Judy Ann, 4. As the publicity agent of Branch 383, he runs the only American fraternal column in a Hungarian paper in the United States, called “The Verhovay Corner.” As the representative of the Buffalo Herald he attended the National Convention of 1943. Serving Branch 383 as secretary-manager since 1936, he participated in several contests winning various prizes among them the distinction of attending the 60th Anniversary Celebrations as guest of honor of the Association. That a powerful fighter can be an attractive fraternalist, is proven by the fact that he has approximately 250 new members to his credit! The Cash Surrender Panic OF TRENDS AND FRIENDS IN CHICAGO 164 — By Midge Reltstann (Continued from Page 4) from then on year by year until, at maturity, it exceeds the total amount of dues paid by the member. This excess, or profit, is made possible by the Association investing the dues paid by the membership at a favorable rate of interest. In view of these facts, it is obvious, that cash-surrender values cannot equal the total amount of dues paid by the member (except at, or close, to maturity), because the “amount of risk” and the insured’s fair share in the expense of management has to be deducted, leaving only the “reserve” available at any time before maturity. AVOID THE LOSS A member contemplating to switch over from one type of insurance contract to another, should be explained that he must give up some of the mcney invested in that particular type of contract, because he purchased and received insurance protection throughout the time the contract was in force. If he will keep his contract in force until maturity, he will suffer no loss, because in the end, every type of insurance policy assures the insured of some gain over and above the total amount of dues paid by him. He should be persuaded, therefore, to complement rather than change the contents of his insurance portfolio, by keeping the contract which was purchased a number of years back and adding another contract the provisions of which will suit his requirements. And if the member cannot afford to pay for both certificates, he should be advised to exchange the one he has for the one he desires. Being older than when the first contract was written, he would have to pay higher rates, while if the original certificate is exchanged, the rates for the new certificate will be computed on the basis of the age at which he applied for the first contract. Thus the loss, incurred by surrendering the certificate for cash, can be avoided and the interests of the member protected, 2. The devaluation of the dollar as reflected in the increased costs of living, has caused many to lose their confidence in the dependability of the life-insurance plan. They know that the thousand dollars, purchased by them 30 years ago, will be worth only as much as 500 dollars were at the time the contract was written. They feel that if the inflationary tendencies prevail, their beneficiaries will get very little for what they had paid good money for. Granting the bitter truth of this contention, the conclusion based thereon is still a fallacy. Inflation and deflation are alternating trends and there are more reasons for than against the belief that the dollar sooner or later, will regain its value. It is just as possible that the thousand dollars purchased on the life insurance plan will be worth twice as much 20 years from now, as it is that it will be worth only half as much. Economic currents always make a gamble, to a certain extent, of long-range saving and protection plans. Still, no one' can reasonably maintain that the fluctuations in the value of our currency render a plan for saving or protection, superfluous and impotent. If we believe that the dollar’s value will further CHRISTMAS IN BUDAPEST Christmas is far, hut so is Budapest where sixty children will be invited to the Christmas party to be held by Branch 164. The gifts for these poor children must be mailed soon in order to make sure that they get there in time. That’s why our “Christmas in Budapest” social will be held October 5th, Saturday. Two large rooms Will be thrown open in the Rainbow Hall, 333 W. North Ave„ as a great crowd is expected to attend. Come and help us give real Christmas happiness to 60 little friends of ours in war-torn Budapest. And, of course, donations are still acceptable and will be sincerely appreciated._ The Cradle Club We welcome the news that Lt. and Mrs. Thomas McMullen are the proud parents of a baby girl born August 27th. Mrs. McMullen is the former Irene Toth, of the “Butcher” Toth’s, now making her home with the senior McMullens in Royal Oak, Mich. Frances R., was the newcomer welcomed by Mr. and Mrs. Joseph Iroczky, Jr., on September 10th Branch-president and Mrs. Iroczky, the proud grandparents already have seen to the addition of little Frances to our juvenile membership list. Not to be outdone, Mr. and Mrs. Robert Wiggins received little Ann May on August 19th. Mrs. Wiggins is the youngest daughter of Juvenile Manager Louis Barna whose family is doing a great deal in building a strong juvenile department within the Verhovay. September 10th was the day Steve Risko family will never decrease, the remedy' is only to be found in increasing rather than decreasing our life-insurance portfolio. Surely, the beneficiaries of the insured would be happier to receive benefits worth in purchasing value only half as much as they hoped, than nothing at all! Inflationary prices going hand in hand with inflationary wages, the insuring public right now is in the position to purchase more life-insurance than was possible at times when lower prices and correspondingly lower wages prevailed. Therefore, the losses to be suffered by the beneficiaries can be balanced by getting more insurance protection. Then, too, it must be kept in mind that the insurance dollar devaluates no less than the dollar invested in any other enterprise. If thq. purchasing value of the dollar is to decrease, it will decrease no matter where the money is invested, in saving deposits, real estate, business, or anything else. This study would not be complete, however, were we not to mention the moral issues involved. A cash-surrender panic certainly is a sign of lack of faith in the economic future of our country. It also indicates a loss of the sense of responsibility on part of the citizens, without Which no future can be built. No other single factor will contribute more to the economic stability of our nation than the naforget. Their first child, a big boy, arrived at the Augustana Hospital! Welcome to all our new arrivals and congratulations to their proud parents ! Wedding Bells William J. Sco, former Air Corps photographer in the Pacific area and youngest brother of our famous “Duke”, was married to Marcelle Marie Kastman, ex- Wave, who also served in the Pacific area. The great event took place on September 14th, at 11 o’clock in the Our Lady Of Carmel Church. The bride was attended by five maids with our little members Cynthia Gay Marosy and Carolyn Dorko acting as flower girls, while fellow member Ronald Dorko was the ring-bearer. 350 guests attended the reception held in the evening at the Bungalow of the Morrison Hotel, among them the Iroczky, Emery Suto, Kolozy Kunstadt, Dorko, Posh, Julius Szabó and Marosy families ofJ Branch 164. We offer congratulations and our best wishes to the happy young people. Welcome to the Ranks ! It tcok five years but at last Charles Plank, too, joined the ranks of the Verhovay. He is the proud owner of a $1,000 Twenty Year Endowment certificate, This makes the Plank family, (closely related with the Faifars) 99 percent Verhovayans. Now we shall concentrate on the remainii g 1 per cent, Betty (Sosky) Plank, Charlie’s papular little wife. Welcome Charles, arid we hope Betty will join us soon to make another full victory for our Association ! tional will to protect and preserve the life-insurance investments of the people. The more we have of that, the less is going to happen to its value. Only the coward will throw in the towel at the first moment of danger! After all, the American nation has overcome much greater crises than the present one. A hysterical attitude toward life-insurance cannot be justified on any grounds. 4. Many certificates are surrendered for the simple reason that, due to an emergency, cash mcney is needed. Since the cash value is never more than the loan value, it is impossible to understand why anyone would “cash in” his policy rather than avail himself of the loan, thereby keeping the insurance protection in force. So please, think twice before deciding to surrender your certificate for cash. Think tiwce, because you lose on at least three counts: (1.) by giving up the estate that you had been successfully building while your policy was in force; (2) by leaving less to your beneficiaries, instead of more, and (3) by having to pay higher rates for any new insurance because of your advanced age. Cash-surrender is the classic example of bad management. Don’t yield to its temptation. Don’t sell your birthright and that of your loved ones for a mess of pottage! A newcomer among our Juvenile members is six months old David L. Luga, grandson of former Branch-president. Frank Luga. The baby’s father, László L. Luga served with the. Navy as postmaster in both, the first and second World War. It is also interesting tq know that little David’s brother is at present in China with the U. S. Fleet. Welcome, David, we know when you grow up ycu’ll be proud of your membership in the Verhovay ! MISCELLANEOUS Bill Exner Returns Bill Exner, 3rd and last member of that family, has just returned to civilian life after having been stationed in Japan for some time. With his return, the Exner painting and decorating firms is again complete! Welcome home Bill! Visits Cincinnati Miss Emilia Jakopovits a member of the fair set at the Federal Reserve Bank, visited Cincinnati over Labor Day, as the Secretary of the Chicago Nőtte Dame High School alumni. This is a national organization with many thousands of members. Where to find husbands ? Miss Irene Kaszas’ fair face was pictured in the Chicago Times not so long ago. The question raised in the “Times Talkies” column was: Where da you think is the best place to make acquaintances for a potential husband Her reply that a dance attended by a group of girls permitting freedom ot i irculation, is her idea of meeting potential husband material, really has something. Many successful marriages date back to couples meeting in that way. Here is Wishing that Irene’s idea tv ill work out well in her case, too! Will dance Two of our young ladies, Irene Adelmann and Irene Bokor, are members of the “Körmagyar Dance” group to be introduced on September 29th, Sunday afternoon, at the great Vine Festival of the Hungarian Cultural Club. Miss Irene Adelmann Miss Adelmann, the daughter of Branch-comptroller Mrs. Andrew Adelmann, is a senior at Lake View High School and one of the best dancers around town. The grand affair will be held at 1632 Milwaukee Avenue and admission is 75 cents ! Mistress of Ceremonies We wish to announce that 11 year old Grace Soo will act as Mistress of Ceremonies at our own Children’s Christmas party to be held December 8th, at 333 West North Avenue. (Continued on Page 6)
