Verhovayak Lapja, 1946 (29. évfolyam, 1-52. szám)

1946 / Verhovay Journal

October 9, 1946

Verhovay Journal

Page 5

inutes of the Board of Directors1 Meeting

MINUTES

taken at the regular semi-annual meeting of the Board of Directors of the Verhovay Fraternal Insurance Association, held on September 16th, Monday, and the following days, at the Verhovay Building, Pittsburgh, Pa.

Present are: John Bencze, Supreme President, Joseph Szalay and Albert B. Ari, Vicepresidents, Joseph Prince, M.D., Julius Macker, Joseph Turner, Andrew Dobos, John Korosfoy, Louis Vizi, Richard Phillips, Aloysius Falussy, and Charles Smith directors, Coloman Revesz, Supreme Secretary, John Szalanczy, Supreme Treasurer, John Sabo, Supreme Auditor, and at certain sessions, Stephen Matassy, Legal Counsel, and Samuel Gomory, M.D., chief Medical Adviser of the Association.

1. ) At 10 o’clock, E.S.T., Supreme President John Bencze calls the meeting to order and extends his warmest greetings to the members of the Board of Directors upon their second regular semi-annual meeting in the year of the 60th anniversary of the Verhovay F. I. Association. Giving expression to the deep anxiety dwelling in the hearts of all peace loving people he speaks of the peace-conferences now being conducted in Paris where the foundations of a lasting peace were supposed to be laid, but, instead, because of the disagreements of the delegates on the problem^ pertaining to the future destinies of the various nations involved, the seeds of an even more terrible world war are being sown by those entrusted with the winning of the peace. He solemnly emphasizes that because the negotiations afford no hope whatsoever for the people of Hungary, it is up to us, American citizens of Hungarian origin, to increase our efforts in behalf of the Hungarian people, regardless of what destiny awaits them in the future.

2. ) Director Joseph Prince conveys the greetings of director John P. Kelemen who, being confined at a Dayton hospital, is unable to attend the meeting. The Board deeply regrets the serious illness of director Kelemen to whom a telegram is sent with best wishes for his early recovery.

3. ) The greetings of former director Moses Csömör are conveyed by director Louis Vizi. The Board is deeply gratified to hear that fellow-member Csömör is recovering from his serious illness.

4. ) The Board gratefully acknowledges the greetings and good wishes of fellow-member Joseph Szabó, manager of Branch 443, Detroit, Mich.

5. ) A telegram with the greetings of fellowmember Dennis Palfalvy, Manager of Branch 452, Colliers, W. Va., is gratefully acknowledged by the Board.

6. ) The greetings and good wishes of District Manager Joseph Nemes, Sharon, Pa., fellowmember Ernest Palos, editor-publisher, Detroit, Mich., and Joseph M. Toth, manager and local organizer of Branch 14, Cleveland, O., are sincerely appreciated and acknowledged by the Board.

7. ) The Board adopts the schedule of business submitted by the Supreme Officers and, accordingly, hears the report of the Supreme Officers.

8. ) Director Andrew Dobos conveys the invitation of Branch 129, Columbus, O., to the dedication ceremonies of their recently acquired Verhovay Home.

The Board appreciates the invitation and appoints Supreme Auditor John Sabo and directors John Korosfoy and Julius Macker, members of the House-Committee of the Board of Directors, as its representatives to the dedication ceremonies.

At the same time the Board wishes to extend its heartiest thanks to all of the fellowmembers in Columbus who untiringly and unselfishly, without any remuneration whatsoever, had lent their time and efforts to the remodeling of the Verhovay Home of Branch 129.

9. ) Director Aloysius Falussy reports that, in accordance with the previous resolution of the Board to this effect, he shall leave on September 19, Thursday, for Hungary, for the following purposes: 1.) to study the effects of the

activities of the American Hungarian Relief, Inc., 2.) to consult together with his associates, the authorities as to the most imminent needs of the Hungarian people and 3.) to give a full account, upon his return, of his experiences with the aim of furthering and promoting the succes of the relief-movement.

Urging brother Falussy to make the most of his time to be spent in Hungary in order that he may return with appreciable results, the Board asks the blessings of God upon him for his long and hazarduous journey.

10. ) It is resolved by the Board that director Falussy, upon his return from Hungary, shall render his first report on his experiences to the Verhovay Fraternal Insurance Association, the organization by which he was delegated. The Supreme President is requested, therefore, to call a special meeting of the Board of Directors as soon as Aloysius Falussy arrives in the United States.

11. ) Before excusing director Falussy from further participation in the meeting, the Board discusses the activities of the American Hungarian Relief, Inc., as of the last four months. Deeply regretting the entirely unsatisfactory manner in which the campaign is being conducted, the Board declares that it shall not condone the continued inefficacy of the movement. Unless satisfactory results are attained by the national officers of the American Hungarian Relief, Inc., the Board shall take proper steps to determine where the responsibility lies for the lack of success of the campaign.

12. ) That the Relief-Movement has not produced better results up to this date, is attributed by the Board partly to the fact that the American Hungarian Relief, Inc., still has no American sponsors and, as a result, sources from which substantial contributions could have been expected, had not yet been approached. Therefore, the Board requests the Executive Committee of the American Hungarian Relief, Inc., to settle without fail the matter of sponsorship which has been left pending for more than a year.

13. ) Divided into three Committees, the Board proceeds to the customary examination of the Home Office.

a. ) Members of the Committee examining the ledgers and- disbursements: Joseph Szalay, Andrew Dobos and Louis Vizi.

b. ) Members of the Organizing Committee: Joseph Turner, Joseph Prince, M.D., and Charles Smith.

c. ) Members of the Committee examining the bond and real estate investments: Albert B. Ari, John Korosfoy, Julius Macker and Richard Phillips.

14. ) Until the completion of the examinations the meeting is adjourned by the Supreme President.

15. ) The examination of the Home Office having been concluded by the Committees, the meeting is called to order by the Supreme President. E. T. Knodel, actuary of the Association appears before the Board to present his recommendations as to the dividends to be paid and other matters.

16. ) The actuary presents his recommendations pertaining to the dividends to be paid by the Association to the membership. After thorough discussion the recommendations are adopted by the Board.

The amount of dividends was agreed upon after due consideration was given by the Board to 1.) the instructions of the Insurance Department according to which dividends are to be computed on a scientific basis and in conformity with the provisions of the insurance laws, 2.) the steadily decreasing rate of interest on all investments, 3.) the rising costs resulting in a substantial increase in the disbursements of the Association and 4.) the demands of the Insurance Departments of Pennsylvania and New York to the effect that the reserves on all insurance certificates in force are to be computed on a 3% interest assumption.

The matter of dividends is settled after careful deliberation by the Board and it is hoped that the decision will be received favorably by the members of the Association who are assured that their interests had been given utmost consideration in this, as in all other, matters.

17. ) It is resolved by the Board that all members in good standing whose certificates have been in force for at least three years on December 31st, 1945, shall be entitled to receive dividends.

The dividends as computed by the actuary shall be payable in December, 1946, to all members in good standing who are not in arrears at the closing of the month of November.

Mejnbers of the Juvenile Department holding Term certificates shall be credited with two (2) months’ dues by the Home Office.

18. ) After hearing the opinion of the actuary, the Board resolves that all members in good standing having attained the age of 85, shall be issued a Paid Up Whole Life Certificate for which no further payments are to be made, Rövided their certificates had been in force foi at least thirty (30) years.

19. ) Gifts of $50 each are granted by the Board to the following veteran fellow-members maimed during the World War:

Michael Zoltany, a member of Branch 66, New Castle, Pa., who lost one eye; Frank Hornyak, a member of Branch 73, Adena, O., who lost his left leg; Zoltán A. Simon, member of Branch 277, Pittsburgh, Pa., who lost one leg; Michael Zajti, a member of Branch 443, Detroit., Mich., who lost one leg, and Emery Balogh, member of Branch 448, Avella, Pa., who lost tus left eye and left leg.

20. ) Branch 296, Springdale, Pa., requests the reduction of the loan of Mr. and Mrs. George Bauman and that they be released from the obligation to pay interest. The Board, however, cannot comply with this request.

21. ) Fellow-members Mr. and Mrs. Alexander Puskas of Branch 52, New Brunswick, N. J , request the cancellation of the liens upon their certificates.

Though fellow-meipber Alexander Puskas is held in highest regard by the Board of Directors, for his outstanding achievements in promotional work, the request cannot be complied with as the Board is not permitted to grant special privileges in matters pertaining to life-insurance certificates.

22. ). Coloman Smoling, member of Branch 35, New York, N. Y., requests that, instead of being placed in an Old People’s Home, the amount allotted for this purpose be paid to him. The Board deeply regrets that it cannot comply with the request.

23. ) Dennis Gyerko, member of Branch 96, Chicago, 111., requests that his membership certificate be exchanged for a Paid Up Whole Life Certificate. The request cannot be granted by the Board.

24. ) Fellow-member Anthony Vékony requests that the amount of dividends to be paid to the membership be turned over to the Hungarian Relief movement. The members of the Association being entitled to the dividends which they are free to use according to their own desires, the Board cannot comply with the request.

25. ) Branch 132, South Bend, Ind., graciously requests that the next Verhovay National Bowling Tournament be held in South Bond. The Board sincerely appreciates the imitation which will be acted upon at some later date.

26. ) The protest of Branch 147, Avella, Pa,, against the trip of director Aloyious Falussy to Hungary is tabled by the Board.

27. ) The request of Aladar Poka Pivni, author of the biography of Col. Comm. Michael DeKovats, for the publishing of his book, cannot be complied with by the Board.

28. ) Desiderius Halacsi, author of the excellent book *‘For the Hungarians of the World,” requests the assistance of the Board in the distribution of his work. The Board regrets being unable to comply with the request.

29. ) The Board considers the appeal of Mrs. Mary Schultz, member of Branch 96, Chicago,

111., whose sick benefit claim has been rejected by the Home Office.

The Home Office is found to have acted in accordance with the provisions of the by-lays. However, in view o the circumstances described in the appeal, the Board exceptionally permits the issuing of sick benefits for the period from January 12 to February 11.

30. ) Considering the appeal of John Bodor, member of Branch 35, New York, N. Y., in the matter of sickó benefit claims, the Board finds that the Home Office acted in accordance with the by-laws when rejecting the claim.

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