Verhovayak Lapja, 1950 (33. évfolyam, 1-12. szám)
1950 / Verhovay Journal
- PAGE 2______________________p.__ Verhovay a. ) that a letter of warning be sent to the Branch-Managers in Detroit, calling- upon them to cease at once all forms of transfer, b. ) that all forms of membership transfers be discontinued in Detroit for a. period of six months. In reference to the above the Board instructs the National Secretary to ..procure from all branches a complete listing of the addresses of their members. 42. ) The Board adopts the raising of the limit of accidental death benefit protection to $5,000 on the basis of 25 cents per thousand dollar of indemnity. 43. ) The Board authorizes further study on Substandard and Preferred Classes of Insurance and requests the National Secretary to prepare a complete report for presentation at the next Board meeting, in September, 1950. 44. ) The Board authorizes the issuance of juvenile certificates, between ages 0 and 16, without medical examination, up to the amount of $1,000. 45. ) The Board authorizes the following action in regards to the appointment of Branch-managers by the National Officer's in such branches where negligence on the paift of the Branch-Manager is directly contributory to the lack of new member's. Authorization is granted to remove branch-managers rendering unsatisfactory service. And if the Manager appointed by the National Officers turns out satisfactory from every point of view, the Branch shall not have any authority to remove such a Manager from this position. Above action was taken by a roll call vote, with 10 votes in favor and 2 opposed. The stipulation is added, however, that in all cases, where the removal of an official is contemplated, proper notices be sent first. 46. ) The Board adopts the recommendation of the Committee of Organizing and Planning and instructs the Home Office to reduce the size of the Verhovay Journal to 8 pages when warranted by conditions. 47. ) Dr. Gomory, chief medical adviser, appears at the Board meeting. 48. ) The Board adopts the recommendation of the committee and authorizes the reinstatement of military service men into the Sick Benefit Class without a medical examination charge, provided application for reinstatement is made within six months after discharge from military service. 49. » The Board expresses its appreciation to Branch 296, Springdale, Pa., for their wonderful hospitality manifested at the dinner tendered them on Thursday, March" 30th. It was a gathering that demonstrated the fraternal ■spirit characterizing the activities of Branch 296, for which all Board members and National Officers extend their warmest thanks. 50. ) The Board regrets but it cannot comply with the request of the Hungarian Presbyterian Church of South Bend, Ind., for a loan of $40,000, as no funds are available for construction purposes in this category. 51. ) In the memory of the late Michael Varga, former Treasurer of the Association, the members of the Board as well as the employees of the Home Office participate in dedicatory ceremonies at the unveiling of his portrait in the Board Room. The oil portrait of the late Mr. Varga had been painted in accordance with the decision of the last national convention. The memory of Michael Varga will remain with us as those who had worked with him throughout the many years of his service came to know him as not only a tireless Verhovay worker but also a true and kind friend. 52. ) The Board considers the appeal of Director Nyers for a more equitable adjustment of the quota requirements for organizing districts, particularly in view of the fact that the quota requirements are identical for all organizing districts regardless of whether their memberships are large or small. The matter is turned over to the National Secretary who shall make the necessary adjustments, increasing the quota requirements of those organizing districts where the membership is larger. 53. ) The Board examines the more pertinent matters concerning the operations of our Investment Department ^and the actions taken during the past six months relative to the purchase and sale of bonds, the acquisition mortgages, the status of outstanding mortgages, and similar matters. 54. ) The Committee of Finances and Investments renders a detailed report on the financial statements submitted by the Verhovay Homes concerning their 1949 operations, to wit: a. ) Yatesboro, Pa. Operated at a loss in 1949 due to extensive repairs to building. Mortgage payments are prompt. b. ) Springdale, Pa. Financial statement shows a gross income of $30.992.15 ■against an expense of $30,424.84 in 1949. Mortgage payments are prompt. c. ) South Bend, Ind. Excellent report showing $73.977 gross earnings for 1949. In addition, new building construction of $33.000 is now free and clear of all indebtedness. d. ) McKees Rocks, Pa. Branch 163 has no indebtedness to the Association. e. ) Kulpmont, Pa. Present balance on mortgage to Branch 2 is $6,637.64. Mortgage payments are regularly made. f. ) Crescent, O. Present balance of indebtedness is $11,881.15. Mortgage .payments are regularly made. g. ) Alliance, O; 1949 gross earnings totalled $28,911.11. Expenses amounted to $28.611.78. There is no indebtedness to the Association. 55. ) In connection with thhe examination of the financial condition of the Verhovay Home of Branch 129, Columbus. O.. a delegation of two members. George Tokár and George David, appear before the Board, to present the request of the Branch for a mortgage loan of $15,000 for the construction of an addition to their present building. However, in view of their unsatisfactory earning record, and also in view of their discouraging record in membershp increases, the Board cannot grant this loan at the present inasmuch as the element of risk is too great for the Association to assume. 56. ) In regards to the mortgages acquired by the Association through the merger with the Workingmen’s Sick Benefit Federation, it is reported that payments on principals as well as interests are being regularly made. 57. ) The Board notes with deep concern the negligence of the Cleveland Verhovay Home in failing to file with the Board of Directors semi-annual financial statements in accordance with a resolution already in effect. Although the information had been requested twice, no reply was made to the request and", therefore, the Board requests the National President to take necessary action with regard to the Cleveland Verhovay Home in order that the requirements be met at once. 68.) In accordance with recommendations made by the Committee in September, 1949, thhe Investment Department has embarked upon a program of investing in FHA mortgages, thereby increasing our yield to some extent. 59. ) Concerning the request of the First Magyar Self-Culture Society of Homestead, Pa., for a mortgage loan of $25,000 for the renovation of their property, the Board regrets but it cannot grant the request. 60. ) Concerning the offer of the Hungarian Home of Pittsburgh, Pa., the Board finds that the offer is not acceptable. Journal — April 19, 1950 61. ) After detailed analysis, the Board finds the income and expense account of the Home Office Building correct and in order. 62. ) The Committee reports that during the preceding six month period bonds totalling $465,000 par value had been purchased. 63. ) The Board notes that the Middlewest Corporation is still undergoing reorganization and as these holdings are being liquidated, the Association receives in return for bonds, shares of common stock in other utilities. 64. ) The Board notes that the Treasurer has gradually embarked upon a program of * investment diversification in an effort to increase investment; income. 65. ) The Finance Committee’s report is adopted as a whole. 66. ) Izsó Szekely, representative of the Amerikai Magyar Népszava, appears before the Board to extend his greetings and an invitation to the 50th Jubilee celebration of the Amerikai Magyar Népszava, to be held in New York on October 8th. At the same time he expresss his hope that the Board will consider the importance of the occasion and place a suitable advertisement in the Jubilee edition. 67. ) The members of the Board feel that our Association has suffered a distinct and irreparable loss in the death of Mr. E. T. Knodel, actuary. His many years of service and wise counsel to our Association have made him unforgettable and we owe him a great tribute for his guidance in the actuarial field. He shall be greatly missed by all, not only as a man of knowledge, but also as a good and true friend, 68. ) The Board adopts the recommendation included in the report of the National Secretary and grants authorization for the preparation of the contemplated changes in the by-laws and the combining of the Senior and Juvenile Order By-Laws into one, for presentation to the coming National Convention in 1951. The amendments and changes are to be made ready for presentation at the September Board meeting. 69. ) The combined l'eports of the National Officers concerning the activities of their respective departments during the past six months period, are adopted by the Board. 70. ) The Board hears the report of the National Bowling Tournament Committee and the detailed plans for the 1951 Bowling Tournament to be held in Youngstown, Ohio. The fact is revealed that only 307c of the teams entering the tournament have requested tickets for sale, which is a great disappointment to the tournament committee. All efforts will be made to further promote the sale of tickets in order that the greatest possible success may be assured. 71. ) The Board acknowledges the report of the National Bowling Tournament Committee and authorizes the placing of a one page advertisement in the Tournament Album. 72. ) Similarly, the Board authorizes, in connection with the forthcoming 5QUi anniversary of the Amerikai Magyar Népszava, the placement of an advertisement. 73. ) The Board requests that commencing April 1, 1950, the Directors be issued monthly reports showing the earnings of all full time and part time men. 74. ) The Board acknowledges the request of Joseph Subits, but regrets Ihat it cannot comply with same in effecting a reduction of rates. 75. ) The business on the agenda of the meeting having been completed, Chairman Julius Macker expresses his appreciation to the Board members for their diligent attention to all matters under discussion. He emphasizes that this meeting has been one of the most important ones he ever attended and he expresses his wish that the many important decisions brought will be successfully executed for the benefit of the Association. 76. ) John Bencze National President adjourns the meeting at 5:30 p.m., on Friday, March 31st. He expresses the wish that in September, when the Directors will meet again, the results of the important decisions made during this week may be contemplated with the satisfaction of true accomplishment. He sincerely commends the members of the Board for their good work, expressing his hope that they will continue working for the good of the Association in their home towns. With these closing remarks he wishes them Godspeed on their trip to their destinations. JULIUS MACKER, Chairman, Vice-President, ANDREW KOVÁCS, M.D., Vice-President, ALOYSIUS G. FALUSSY, HENRY GROSS, COLOMAN KOLOZSVARY, JOHN A. HORNYAK, MICHAEL KOROSSY* JOHN BENCZE, National President JOHN SZALANCZY, National Treasurer RICHARD PHILLIPS, Secretary, STEPHEN LANG, STEPHEN NYERS, JOSEPH S. TAYLOR, JOSEPH TURNER, LOUIS VIZI, Directors. COLOMAN REVESZ, National Secretary JOHN SABO,» National Auditor District Office In Northampton — Office at 1057 Main St„ to serve rapidly growing membership of Branch 216. — All members of Branch 216 are informed herewith that I have opened a District Office at 1057 Main St., Northampton, Pa., where office hours are temporarily scheduled for all day and evenings on Thursdays and Saturdays. The members of the Branch are requested to call upon me in all matters pertaining to the business of the Association on either of the above two days. Those fellow-members who are unable to attend the monthly meetings, are especially urged to come to the office to pay their dues. Naturally, I shall gladly continue calling at the homes of those who are unable to comply with this request. Our monthly meetings are held, as heretofore, on the second Sunday of each month in the Northampton Hungarian Home. Members are requested to bring their dues to the meetings and then to stay for the session, too, because the matters put before the meeting require the presence of the membership. The officers of the Branch can discharge their duties to the satisfaction of the membership only if interest is shown, on the part or the membershp, in the proceedings of the Branch. JOSEPH SUBITS, District Manager.
