William Penn, 1957 (40. évfolyam, 1-12. szám)
1957-10-02 / 10. szám
PAGE 2 October 16, 1957 William Penn William Penn Fraternal Association Certificate of Audit The books and accounts of the William Penn Fraternal Association were audited and examined for the six months beginning January 1, 1957 and ending on June 30. 1957 and certification is hereby made as to the correctness of the financial schedules and exhibits for the above-mentioned period as stated in the published reports of the William Penn Fraternal Association. All of the income accounts were examined. All interests received were traced to bank deposit slips, and the same procedure was followed as regards rentals from Home Office Buildings, and also for the interests received from the various mortgage loans found on our books. Branch treasury slips showing total branch remittances' were checked against those amounts officially tabulated in the dues ledgers; profit on sold and called bonds were also verified, and each deposit checked against the bank statement as issued by the Mellon National Bank and Trust Company. We definitely verified the deposition of all income items. As of June 30, 1957, our Bond Portfolio showed a value of S21,624,056.96. Our Assets and their distribution as of June 30th 1957 were • as follows: Bonds $21,624.056.96 Stocks 287,873.34 Mortgage Loans and Real Estate 2,175,963.43 Real Estate, Home Office Buildings 701.873.38 Investment, Real Estate, Branches 35,886.94 Certificate Loans and Liens 736.506.89 Cash in Society’s Office 1,000.00 Cash in Banks and Tr. Companies 93,606.41 Airlines Account 425 00 Stock Account — Magyal’ Home 12.450.00 Total Assets $20,689,642.35 The accuracy of the items listed above was checked firsthand bv -the Auditing Committee members. All extensions and computations were found correct. Also, those papers and books dealing with many of the items above-listed were obtained and complete verification was found. Much time was devoted to the examination of the disbursements made by our Association in the various departments and under headings such as sick benefit, commissions and salaries, dividends, loans and trust fund, death benefit claims, investment expenses, official publication, advertising, and organizational expenses. During the examination of these items, each individual check disbursed was accounted for; furthermore, all necessary supporting papers and vouchers were most carefully scrutinized for each and very item. The Auditing Committee members evaluated the recently purchased neighboring office building, the 8 Story St. Nicholas Building, located on the important downtown Pittsburgh corner of Fourth Avenue and Grant Street, and consider the purchase an excellent one not only from a monetary stand, but also from an investment and organzational position for the immediate future. Our examination was commenced on September 2nd, 1957 and concluded on September 14th, 1957. AUDITING COMMITTEE Gáspár PAPP, Chairman William C. KOHUT, Secretary Andrew BANDY, Member Frank FÖLDI, Member Albert B. MARK, Member Brief Resume of Board of Directors Meeting (Continued from page 1) promote the progress of the Association and to strengthen its fraternal and community activities. The following were awarded Illustrious Citation awards; John Hegedűs, Br. 48- V, New' York, Alex Debreczeni, Sr., Alex Haydu, Sr. and John Poliak, Sr., Br. 85- V, Daisytown, Penna., John Molnár, Sr., Br. 115-R, Seanor, Penna., Ignatius Harsanyi, Br. 177-V, Wyano, Penna. These awards will be presented at an, appropriate time, when the Branch will hold a special celebration for the occasion. The Board was pleased to hear the report on the success of the 1957 National Bowling Tournament and Fellowship Days held in Day tori', Ohio. Indications are that these Fellowship Days and Tournaments are becoming more and more popular therefore it was resolved by the Board that the 1958 Tournament and Fellowship Days be held in the city of Philadelphia, Penn sylvania May 31, and June 1, 1958, details of the forthcoming tournament will be available to the membership through the pages of this Journal. The elected Tournament Admin istrator was Mr. Elmer Charles, Field Manager and , the Bowling Tournament Committee will be as follows: Albert Ibos, Mike Korosy and John P. Balia, Directors. The Board unanimously resolved that the Association should utilize the property on the corner of Grant Street and Fourth Ave., next to the present Home Office site for the purpose of erecting thereon a multi-storied office building. A Building Committee consisting of Vice Presidents Julius Macker and Louis Varga and Aloysius C. Falussy was elected. Since the Association has opened a West Coast District Office in Los Angeles, California, Director Alexander Gyulay was designated to be the Manager of the District Office. The Board made an important step forward in authorizing that only those Doctors be permitted to examine applicants for membership who have been placed on the approval list by the Home Office. Details of this decision will be outlned to all full and part time Branch Managers. The Board again spent considerable time in planning for the future growth of the Association. The Board agreed that in many localities it is of vital necessity that Branches be merged so that the members receive better and prompt service. For this reason certain Branch Managers must be relieved of their present duties, however the Board wishes to make it clear that solely because a Branch Manager has been relieved does not mean that such a member did not perform his duties to the best of his ability, it merely means that progress requires that younger and more experienced men be appointed to these positions to give the members better service. For details, please consult next months issue of the Journal. It is most interesting to note that several months before the beginning of our Examination, the State of Pennsylvania Insurance Examiners spent six to seven weeks examining our Association, and we were privileged to study and appraise their report. This examination was the first since the merger of the two fraternal societies, Verhovay and Rákóczi, approximately two years ago. And we are most happy to report to our members that they found everything in order, and gave our Association a favorable nod. We also examined the income and expenditures connected with the Bowling Tournament held in that friendly city of Dayton, Ohio, and found that the tournament was highly successful, especially so from an organizational point of view. The million in May contest was more or less tied in with our Tournament and Fellowship Days, and actually produced approximately one and cne-half millions in new business written. While we note the expenses connected with such a tournament we, nonetheless, feel that such a tournament creates tremendous goodwill and enthusiasm and must necessarily be a most helpful asset. Monies so expended especially wherein the youth of our Association partakes and wherein the future of our Association becomes more secure, is a desirable expenditure. NOTICE * TO THE KIND ATTENTION OF THE MEMBERS OF THE 34 (V.) and 74 (R.) BRANCHES IN PITTSBURGH, PA. We call the attention of the members of both branches to a joint meeting of the officers concerning the merger of the two branches held on September 18, 1957. We ask the members of both Branches to attend THE JOINT MEETING to be held on December 15, 1957, in the Hazelwood Hungarian Home where the officers of the merged branch »411 be elected from among the members of the two branches. •• This very important meeting will take place Sunday at 2:30 P. M. We hope and are certain that our members will comply with our request. GEORGE MÉSZÁROS STEPHEN ZOMOK President of Branch 34-V President of Branch 74-R JOHN FULOP ANDREW PARANAY Manager of Branch 34-V Manager of Branch 74-R IT’S TIME TO ROLL UP YOUR SLEEVE... CALL YOUR RED CROSS TODAY!
