William Penn Life, 1968 (3. évfolyam, 1-12. szám)

1968-10-01 / 10. szám

Minutes of the Board of Directors Quarterly Meeting Meeting held Sept. 9-11, 1968 in the Board Room of the Home Office in Pittsburgh, Pennsylvania 1. Board Chairman, John P. Balia, calls the Third Quarterly Meeting of the Board of Directors to order at 10 A.M. 2. Secretary of the Board, Frank J. Radvany, calls the roll and the following are present: Elmer Charles, National President; Louis L. Varga, Vice Presi­dent; Julius J. Lenart, Vice President. John P. Balia, Frank Bero, Stephen Danko, Michael Hegedűs, Stephen J. Ivancso, Rev. Andrew P. Jacobs, Stephen Lang, Jr., Frank J. Radvany, Joseph Toma, Louis Vassy, and Frank J: Wu­­kovits, Sr., Directors. Albert J. Stelko­­vics, National Secretary; John Sabo, Na­tional Controller & Budget Director; Julius E. Somogyi, National Treasurer. In addition, Gay B. Banes, General Counsel and Dr. Samuel C. Gomory, Medical Director were also present. 3. National President, Elmer Charles, opened the meeting with great sadness in his heart and the sorrow which befell the Board of Directors and the William Penn Fraternal Association was reflected on the face of every member present when he announced the death of Na­tional Director, Aloysius C. Falussy, who passed away on Friday, September 6, 1968. He requested all to rise for a Memorial Service to the memory of Di­rector Falussy and other members of the William Penn Fraternal Association, who have died since our last meeting. President Charles read the eulogy in memory of Director Falussy. The Me­morial Service was closed with a prayer by Director, Rev. Andrew P. Jacobs. 4. President Charles stated it was diffi­cult to begin a meeting under such sorrowful conditions, however, he did extend warm greetings to the Members of the Board, the National Officers and especially to Honorary National Presi­dent, John Bencze, who honored us with his presence at this meeting. During the Memorial Service, Presi­dent Charles announced the death of Mrs. John Bencze, wife of Honorary National President John Bencze; Stephen Bencze, former Director; Vendel Petro­­vitz, Manager of Branch 2, Kulpmont, Pa.; former Branch Manager, Alex Turfa, Stephen Myers, and William Kop­­nich. He also announced the death of Mrs. Nicholas Juhasz, wife of a former Auditing Committee Member and Presi­dent of Branch 14. He, President Charles, also announced that Director and Mrs. Louis Vassy recently celebrated their Fortieth Wedd­ing Anniversary. President Charles submitted his written report to the Board of Directors and stated that work has progressed satis­factorily in the past three months. He urged the Board Members to give serious 4 thought to new ideas which would carry the Association forward. 5. Board Chairman, John P. Balia, also extended warm greetings to the Board of Directors and National Officers. He offered his condolences to the fam­ilies of the deceased members. 6. Honorary National President, John Bencze, was introduced. Mr. Bencze thanked the Association for the flowers which were sent in memory of his wife. He was extremely happy to meet each and every member present. He expressed hope that our deliberations would be fruitful and extended his best wishes for a successful meeting. 7. Vice President, Louis Varga, ex­tended condolences in memory of Di­rector Falussy and stated Director Fa­lussy will be greatly missed by the Board of Directors. Vice President Var­ga, who officially represented the William Penn Fraternal Association, reported that he along with Mrs. Varga, Director Frank Bero and Mrs. Bero, Director Hegedűs, Director Radvany and Director Toma visited the funeral parlor where Director Falussy was lying in repose and extended the condolences of the National Officers, Board of Directors and the William Penn Fraternal Associ­ation to members of the family. The family received these condolences warmly. He explained to the family why no one from the Official family would be able to attend the funeral service because of transportation problems. 8. It was moved, seconded and unani­mously adopted that the Home Office be closed at 11 A.M. on Wednesday, September 11, 1968 to afford the Board of Directors, National Officers and em­ployees the opportunity to attend Mass for Aloysius C. Falussy at St. Mary's Church, which will be celebrated by Director Rev. Andrew P. Jacobs. 9. It was moved, seconded and unani­mously adopted that the Eulogy which the National President read at the Memorial Service be prepared in a special format and sent to Mrs. Falussy and same be attached to and made a part of these minutes and published in our Official, publication. 10. The Agenda is presented to the Board and same is adopted, with the proviso, that any matter properly be­longing before the meeting may be added thereto during the course of the meeting. 11. A lengthy discussion and delibera­tion ensues with reference to the Report of the National President to the Board of Directors dated September 9, 1968. The Board reviewed page by page the President’s Report discussing and de­liberating its contents. 12. It was resolved by the Board to thank the members for their fine coop­eration in mailing their premiums di­rectly to the Computer Center and re­questing the members who are not so doing, to avoid possible confusion, also send their payments directly to the Computer Center. 13. Dr. Samuel C. Gomory, Medical Director extends warm greetings at this time. He submitted his Semi-Annual Re­port of the activity of the Medical Department for the period of January 1, 1968 to June 30, 1968. It was moved and seconded the Board accept the Medical Director’s report with thanks and same be placed on file. 14. Honorary National President, John Bencze, stated he would have to depart at this time. He enjoyed listening to our deliberations and remarked what a smooth working Board we have in com­parison to previous Boards. He expressed hope that he could return and visit with us in the near future. 15. Results of several analyses of our investment portfolio was presented to the Board and the same was discussed in depth. As a. result of this discussion an Investment Program was adopted by the Board and the Investment Committee was entrusted with carrying out this program. 16. The entire Board visited with Mr. James Headley, President of Grant Building Inc., where plans for our future Home Office Building in the Grant Park Plaza complex were dis­cussed. Later Mr. John Mauro, Execu­tive Secretary of the City Planning Commission, Pittsburgh, Pa. appeared before the Board of Directors to discuss our new building program and its progress. 17. Director, Louis Vassy, extended greetings to the Board in behalf of Gáspár Papp, former member of the Auditing Committee. 18. President Charles extended warm greetings and wished the Board a most successful meeting on behalf of William Kohut, Chairman of the Auditing Com­mittee. 19. IT IS RESOLVED by the Board of Directors in regular Quarterly Meet­ing assembled in Pittsburgh, Pa., this 10th day of September, 1968, that effec­tive October 1, 1968, the non-medical life limits be as follows: Insurance Age Non-medical Limit 0-15 $10,000.00 16-35 25,000.00 36-40 10,000.00 41-45 5,000.00 46-50 3,000.00 51 and over NONE BE IT FURTHER RESOLVED that Short Form Adult Applications may be used for no more than $5,000.00 Life Insurance at insurance ages 41-45 and for no more than $3,000.00 of Life Insurance at insurance ages 46-50. 20. A. Supervisor of Agencies, Joseph

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