Zajedničar = Fraternalist. [volume], June 27, 1956, Image 11

About Zajedničar = Fraternalist. [volume] (Allegheny, Pa.) 1894-current

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June 27, 1956
to
be of
2cb
E S O U I O N
To 12-1-55 A.E. 4%, 3^%, 3%
12-1-66 to date C.S.O. 2%%
To 1-1-55 A.E. 3H%. 3%
To 1-1-55 A.M. 2%%
To 1-1-55 8. I.
1-1-55 to dat« C.S.O. 2%%
6.
6.
(a)
(b)
(c)
A.E. 3%
C.S.O. 2 ft*
(b)
(c)
(d)
Total (Net)
"ZAJEDNIČAR"
Number
71,388
133
71,521
3,728
1,175
26,860
2,866
34,629
34,629
106,15K
150,509.00
150,509.00
150,509.00
(a)
(b)
(d)
(e)
10.
(b)
(c)
li.
(b)
(c)
(d)
3
Amount
$61,109,403.60
132,000.00
$61,241,403.60
$61,241,403.60
3,026,500.00
1,070,500.00
16,116,000.00
1,985,300.00
$22,198,300.00
22,198,300.00
$83,439,703.6»
$ 2,793.00
2,793.00
2,793.00
$ 1,025,844.00
r/r
JSeeerue
$19,516,475.00
398.00
$19,516,873.00
$19,516,873.00
578,454.00
40,530.00
397.604.00
6,163.00
$ 1,023,051.00
1,023,061.00
$20,539,924.00
$ 153,302.00
153,302.00
153,302.00
$20,693,226.00
V
1954 52.61%
195 3 58.13%
195 2 59.88%
195
1 54.34%
147,634.25
272,221.45
21,626.74
190,353.94
3,924.27
99,733.05
35,292.37
Total $24,142,397.60
i a i i i e s
$20, 693,226.00
806,381.00
66,093.47
112,635.89
457.76
3,572.77
1,320.13
31,780.10
138,949.69
166,524.53
fJnassigned funds:... 1,086,795.26
Tots! $24,142,397.60
1
0
I
B1
Bernice Novak, Sec'y.
Page 11
George Kelich
Djoko Pribich
And His Tamburitzans
Fred Perich, Sec'y-
A N K I E \n\n of a plan which
SUPREME BOARD MEETINGS
promises
great help to the Society
in the future.
Bro. Krasich also agreed with the motion in question,
but urged very strongly that an appeal be made through
the Zajedničar to Lodges in the United States and Canada
not to cut the salary they are paying their Secretaries once
the Home Office starts paying them the 50cents per mem
ber per year.
Voicing their agreement with bro. Krasich's appea 3 were
bros. Hinich and Verbos and all Board members agreed that
such an appeal should be made time and again.
Bro. Bella I too am for reimbursing our Lodge Sec
retaries and am not against the proposal before us. But I
do not agree with bro. Mandich on his* rosy outlook on our
financial future. You Board members have before you my
report, wherein I specifically call attention to the great
expenditures necessary to meet raises to the clerical staff,
the cost of publishing the Zajedničar, and many, many other
problems. Only the other day we learned that the cost of
newsprint will be raised soon to make the publication of
the Official Organ even more costly. I am not convinced
that we can make and outlay of between $45,000 and $48,000
in the future for Lodge Conservation and Bonus Awards
and this 50 cents per member per year and do so on the
strength of our present status. Bro. Mandich will have to
show me much more than he has to convince me that he
is right.
Bro. Mandich replied that bro. Bella was being a bit
pessimistic in his outlook on this, for the Supreme Presi
dent said that only
was transferred whereas 5% was
allowed by law, thus creating no financial problem in the
future.
The Supreme President also pointed out that for the
Croatian Fraternal Union to adopt the plan before the Board
would mean that ours would be the first Slav fraternal in
North America to so recognize our Lodge Secretaries. This
would bring the Society much prestige in the fraternal field
and make it even more powerful and greater.
Bro. Borich's motion, seconded by bro. Majetic,. was
then put to a vote. Unanimously agreed.
Next, the Board took up Junior Order Director bro.
Grasha's recommendations pertaining to Nest Managers:
1) That the present Nest Conservation and Bonus Awards
be retained and 2) that the Junior Order pay 10 cents for
Term Members and 25 cents for Permanent Certificate
Members as an extra annual award in the future. This would
mean much to the Nest Managers, surely no less than that
voted Lodge Secretaries.
Speaking favorably on the recommendations were
bros. Grasha, Mandich, Krasich and Borich. Sister Niksic,
on the other hand, felt that allowing 35 cents for a member
holding both Term and Permanent Type Insurance was too
high when compared with the 50 cents voted Lodge Sec
retaries, who have by far more responsibilities than Nest
Managers.
Bro. Krasich then moved that bro. Grasha's recom
mendations be adopted as tendered and bro. Ovcarich sec
onded same. After another short round of discussion, the
motion was put to a vote. Unanimously agreed.
The Supreme President recessed the meeting for lun
cheon at this point.
Stephen F. Brkich, Recording Sec'y.
Eighth Meeting, Thursday Afternoon, March 22, 1956
Supreme President V. I. Mandich called for order with
his greeting. Present were all supreme Officers and officials.
Brother Vukelich read the minutes of the fourth meet
ing, which were approved.
Taken up next was the question of transfer of present
"""members from the old to the new disability and surgical
plan, on which there was a discussion at the previous session.
Brother Mandich reported talking on the subject this
morning with our Medical Director, Dr. F. Arch, who ad
vised that this decision as recommended by brother Ovcarich
could be adopted with no danger whatever.
Brother Ovcarich again explained his recommendation
by which members already insured under the old disability
plan could transfer to the new plan without medical exami
nation, regardless of age, from April 1st to December 31,
1956. He said a deficit is beginning to show up in the old
disability fund by reason of the fact that members can no
longer be insured on that plan, while the surplus in the new
disability fund is steadily growing. The purpose of this re
commendation, said brother Ovcarich, is to eliminate the
old fund entirely, so that eventually we would have only
one, the new plan.
Such a recommendation was approved in 1952 and 1953,
which our former Legal Counselor, brother Balaban, sup
ported, by which we permitted old members to transfer to
the New Disability Plan without medical examination, ex
cept if the Medical Director thought an application should
be returned and a medical examination demanded.
Brother Martin Krasich pointed out that there is re
ference here only to the Disability Fund and to members
now holding such insurance, and does not give this privi
lege to members who are not at present insured on that
fund. He seconded brother Ovcarich's recommendation.
After some further discussion on the recommendation
it was adopted unanimously.
Brother Mandich reported that we inherited from the
Croatian Brotherhood a National Home in Great Falls,
Montana, including a bar and license for sale of liquor. He
stated that our Legal Counselor advised that we, as the
Croatian Fraternal Union, cannot apply for, nor possess, a
license for the sale of liquor. He then consulted with an at
torney in Great Falls, who suggested that the Home be
sold and that its value will be higher if it possesses a liquor
license. Mandich said he had talked with the officers of
our lodges in that vicinity, suggesting that they organize
a Central Committee which could take over the Home and
continue its operation. Also, it could be sold, if suitable terms
were reached. Brother Mandich suggested that this matter
be referred to the Executive Board and that it be authorized
to act as it deems best for the interests of the CFU.
Brother Mandich suggested that the Legal Counselor
prepare an appropriate resolution.
On motion by brother Vranes, seconded by brother
Mikan, the following Resolution was unanimously adopted
by the Supreme Board of Directors of the Croatian Fraternal
Union of America in meeting assembled on March 22, 1956:
WHEREAS, the Croatian Fraternal Union of Amer
ica is the owner of certain real estate situated in the
City of Great Falls, State of Montana, and
WHEREAS, the Croatian Fraternal Union of Ame
rica is desirous of disposing of the said real estate at a
price in excess of $20,000.00, and
WHEREAS, the aforesaid price is fair and reason*
able and is the highest and best price that can be ob
tained under the circumstances.
NOW THEREFORE, be it resolved that the Execu
tive Board of the CFU is authorized to complete the
sale and President and the Secretary be and they are
hereby authorized to execute any and all deeds which
may be necessary to effect the sale of this property and
to do any and all legal acts which may be required by
the State of Montana to effect a good warranty deed of
the same.
ATTEST:
Brother Vranes moved, with brother Mikan seconding
Life Insurance
Total Adult (Net)
Total Juvenile (Gross)
Total Juvenile (Net) ...
For non-deduction of deferred fractional premiums or return of pre
miums at the death of the insured (Included in reserve calcula
tion and estimated by N. Y. Method) $
Total (Gross)
Total (Net)
If the interest rate on reserve liens is less than that secured
In its valuations of the corresponding certificate liabilities,
or if not adequately secured by reserves, have the IN
STRUCTIONS for Exhibit 13, Line 5 been complied with?
Answer: None.
Were the full reserve liens and Interest thereon deducted
In all Instances during the current year in the payment of
claims or other benefits? Answer: Yes.
Was the amount or basis of reserve liens or rate of lri-
the motion, that the question of the Home be referred to
the Executive Board. Adopted unanimously.
Brother Mandich reported that a committee was or
ganized in New York last year for The American Museum
of Immigration, for the erection of a museum at the base
of the Statue of Liberty in New York, covering some 50
thousand square feet of space. The Museum would be
administered by the National Park Service. Alongside the
main hall there will be rooms for different nationality exhi
bits. This project would be on a grand scale and would show
the culture and traditions of Americans of all nationality
backgrounds, who are now an integral part of America
and who helped build America to its present greatness.
This Museum would be erected with funds contributed
by the people. For this purpose a Committee was organized,
and brother Mandich reported that he is a member of the
committee, as Supreme President of the Croatian Fraternal
Union. The Croatian people are also represented by our
great sculptor, Ivan Mestrovic. The various organizations
are being solicited for contributions, and such a request was
directed to our own Society. I wish to., present this matter
to you, so that a joint decision may be reached. We should
contribute at least $5,000 to this fund.
Sister Niksic asked if the money would be donated in
the name of the CFU. Yes, said brother Mandich, this would
put the Union on record as a founding member.
Brother Skrtich commented that $5,000-00 is a lot of
money.
Brothers Grasha, Martin Krasich and others also spoke
on the subject. The idea was brought up that an endeavor
be made to obtain the funds through contributions from our
lodges, nests and membership. Brothers Borich, Krasich,
Vranes, Hinich and others joined in the discussion.
After a thorough discussion, it was unanimously de
cided that the Union become a member and that a campaign
be conducted for contributions for the erection of this
Museum.
Mandich said it would be necessary to amend or revise
certain sections of the by-laws, and that the Supreme Sec
retary, brothe Joseph Bella, together with the Legal Coun
selor. would prepare everything necessary for the Supreme
Board for discussion and decision.
There was a discussion on these matters, after which
brother Mandich closed the meeting, calling the next for
the next morning.
Philip Vukelich, Recording Secretary
ANNUAL STATEMENT FOR THE YEAR 1955
Of The Croatian Fraternal Union Of America
Total Adult (Gross) 71,521
A.E. 3%
AM. 2%%
8. I. 3%
C.S.O. 2
VALUATION REPORT
AGGREGATE RESERVE FOR LIFE CERTIFICATES AND CONTRACTS
(1) ADULT
In Calculation In Valuation of
of Rates Certificate*
Grand Total (Net) $19,667,382.00
Do the laws of the society provide for the segregation and
trusteeing of the reserves or funds of any classes of certificates
excepting juvenile certificates? Answer: No. It bo, specify the
applicable provisions of such laws.
Has the society during the past five years on any class of cer
tificates changed its valuation bases or formulae or the number
of contributions collected during the year? Answer: Yes If so,
explain fully. Extra reserves for loss of premiums and interest
in year of death established on all business except A.E. 4%
Ordinary Life.
(a) The negative reserves on individual certificates must be
eliminated from the Valuation Report. Has this require
ment been complied with? Answer: Yes. The term, "Neg
ative Reserve", refers to the excess of the present value
of the future net contributions over the present value of
the promised benefits.
Does the society charge redundant net rates of contribution,
1. e., net rates in excess of the tabular net rates (on the
basis of the mortality table and interest assumptions used
in the valuation)? Answer: No.
If so, state the amount of the present value of such excess
contributions, and also state the intended purpose thereof.
Answer $—o—
If a society, which uses tabular values in making its valu
ation, charges net rates of contribution lower than the
tabular net rates (on the basis of the mortality table and
interest assumptions used in the valuation), it must set up
an additional reserve to cover the deficiency in such rates
calculated on a basis not less than one providing for the
accumulation as a pure endowment under a level net an
nual rate of contribution of a sum at the end of not more
than 20 years from the issue of each certificate equal to
the present value at that time of the difference between
the net rate charged under each certificate and the tabular
net rate of contribution used in the valuation of the same
certificate.
•.
Has the requirement of Item 3 (d) been complied with£
Answer: Yee, Prospective Method used. If so, on what
basts was the deficiency reserve calculated? Answer: FUB
deficiency, by prospective method.
Did the society exclude from the valuation required in Exhibit 8
any suspended certificate where the member under the by-law«
was eligible for reinstatement without evidence of isurability?
Answer: No.
Is any surrender value promised in excess of the reserve u
legally computed? Answer: No. If so, the amount of such excess
must be included in Item G3 above. Has this been done?
Answer: None.
State face amount and rate of interest charged on each class
of reserve liens, certificate loans or preminum loans. 4% Pre
mium Loan $795,196.36 Cash Loan $244,001.98
The following categories relate solely to reserve liens:
(S) JUVENILE
terest changed in any way during the year? Answer: No.
The following form of explanation for publication of the results
of the valuation should be followed:
"The society's valuation indicates that on a basis of the Ame
rican Experience, Standard Indust. American Men and Comm.
1941 Standard Ordinary Table or Tables of Mortality with in
terest at 3 -2l
net rates now being collccttd, together with the now invested
assets, of the All Funds, are sufficient to meet all certificates
as they mature by their terms with a margin of safety of
$2,121,456.26 (or 9.637r) over the above statutory standards."
(a) "Ratio of assets and liabilities (including reserves on all
statutory obligations): 1955 109.63%, 1954 111.06%, 1953 110.55%,
1952 108.5%, 1951 108.0%."
Expected and Actual Mortality on Net Amount at Risk.
(Note—Societies which do not complete page 7 should report
under this item.)
(c) Ratio per cent of actual (Item (b) above) to expected
mortality (Item (a) above) on net amounts at risk during
1955, 1954, 1953 See Gross Basis.
Expected and Actual Mortality on Gross Amounts at Risk.
(Note—Societies which complete Page 7 should report under
this item.)
Expected mortality on gross amounts at risk
(See Instructions) $1,447,777.00
Net Death Losses Incurred (Page 5, Line 8,
Columns (2) and (3) 797,750.31
Total Death Losses Incurred 797,750.31
Ratio per cent of actual (Item (d) above)
to Expected Mortality (Item (a) above) on
gross amounts at risk during 1955 55.10%
Interest Income from Investments
(a) Net Investment Income (Exhibit 2, Line 7) ....$ 694,868.74
Tabular Interest (See Instructions) 619,926.57
Ratio of net invested income to mean assets
(See Instructions) 1955 3.00%
195
4 2.96%
195 3 2.96%
195 2 3.01%
1951 3.00%
Requirements for filing the Supplement to Valuation Report
(a) State total amount of reserve as of December 31, 1955 on
certificates where the interest assumption was higher than
3% as reported in Exhibit 8 (A).
Loans on Certificates of Members 1,039,198.34
Cash
Premiums collected by lodges not yet remitted
Interest due and accrued
Trust Fund for Taxes
Trust Fund for Minor Beneficiaries
Employee's Pension Trust Fund
the future assessments of the Society, at the
State ratio of actual to expected mortality during 1955
55.10%.
State corresponding ratio on the basis of the Commissioners
1941 Standard Ordinary Mortality Table.
(This item is optional)
Has th4 Society filed the Supplement to the Valuation Re
port? Answer: No, not required.
ANNUAL STATEMENT
OF THE CROATIAN FRATERNAL UNION OF AMERICA
December 31, 1955
A s s e s
Bonds
$22,332,413.19
Real Estate (Depreciated Value)
.............t...............
Aggregate Reserve for Life Certificate
Aggregate Reserve for Accident and Health
Unpaid claims Life Certificate j.
Unpaid claims Accident and Health
Refunds Due and Unpaid
Premiums Received in Advance
Surrender Values on Cancelled Certificates ..
General Expense Unpaid
Amounts withheld as Trustees
Mandatory Security Valuation Reserve
Total Liabilities $22,020,941.34
Special Reserve
Contingency Reserve Adult $983,369.00
Contingency Reserve Juvenile 51,292.00
Total Contingency Reserve 1,034,661.00
How would you like to earn three dif
ferent ink toll point pens in a handy
carrying case? Well, you can. Simply
sign up either a new adult or juvenile
member on any amount of permanent
type insurance, Junior Educational Endowment at Age 18
Twenty Year Endowment, Junior or Senior Twenty Pay
Endowment at Age 85, Junior or Senior Endowment Age
65, Senior or Endowment Age 85, Senior. Put your
name on the application blank as the Proposer and the
three pens are yours. Sorry, Junior Term Insurance busi
ness will not get you the three pens. You must write per
manent type business. Finally, yon can win these three
pens only once, the first time your name appears on an
application as either Adult or Junior Proposer!
Zumbsraks To Sponsor Fourth Of July Outing
Cleveland, Ohio Now
that Spring has been enjoyed
as well as possible, "Zumber
aks" CFU Lodge 859 has set
its sights for an active sum
mer.
Thomas Latkovic, our so
cial chairman, has picked the
Fourth of July for a fire
cracking picnic at Janacek's
Farm, located on Southern
Road, which is south of Rt.
303 and west of. Rt. 21. The
general vicinity is West Rich
field.
The usual round of refresh
ments will be on tap along
with games for children and
adults. Prizes will be award
ed to all winners in all con
tests. What's more, there will
be dancing to the Zumberak
juke-box.
The crowning event will be
a baseball game to recall
memories of past athletic
achievements. The starting
time is left up to the mem­
Youngstown Choir Set
For Shady Run Outing
Youngstown, Ohio Ev
eryone is cordially invited to
attend "Strossmayer's gala
Annual Picnic to be held Sun
day, July 1, at Shady Run
Picnic Grove, Shady Run Rd.
and E. Midlothian, Youngs
town.
There will be an abundant
supply of barbecued lamb a
vailable from noon on, also
hot dogs, usual refreshments
and goodies for the kiddies.
The musical portion of the
program will be provided by
Anthony Markulin and his
Balkan Serenaders.
Around 7 PM, a special
treat is in store for all at
tending. The children's kolo
group will entertain with sev
eral kolos. Don't fail to see
this wonderful group o
youngsters.
During the months of June,
July, and August the "Stross
mayer" Kolo Groups will have
rehearsals only once a month,
on the last Thursday of the
month. We will resume the
regular weekly rehearsals in
September.
Stella Toplek, Rec.
Youngstown Auxiliary
In Bon Voyage Funfest
Youngstown, Ohio The
Croatian Ladies' Auxiliary
will hold a Farewell Party at
e o o i n o n y
meeting on June 27 at the
Croatian Home, West Federal
Street.
The ladies will be wishing
"Bon Voyage" to Mrs. Sinko
vich, Mrs. Schragel and Mrs.
Ashberger, who will be leav
ing for Europe for a vacation.
This will be our last meet
ing until September, so please
come to wish all an enjoyable
summer.
It's your Croatian Fra
ternal Union. Build, boost it
wherever you go.
bers. If anyone so desires,
breakfast time will be none
too early.
To toast the bowling suc
cesses of our teams and bowl
ers, the tentative date for a
victory supper is set for Sat
urday, July 7th.
Soon each member will be
getting through the mails a
booklet of tickets for the
Fraternal Day of 1956, spon
sored by the United C. F. U.
Lodges of Cleveland. This
day is dedicated to raising
funds for picnic grounds that
can be used by any lodge for
its own purposes as well as
by the joint committee of all
the lodges.
So let's make this small
contribution to this worth
while project and at the same
time stand a chance of win
ning a 1956 Buick or a $100
Savings Bond.
Harborites To Stage
Old Fashioned Fiesta
East Chicago, Ind. With
the middle of summer upon
us, the news of a lodge spon
soring a picnic sounds great.1
Your thoughts turn to
plates of hot barbecued lamb,
loads of onions and bread, re
freshing drinks and the de
lightful strains of tamburit
za music in the air. Are we
making you wish there were
going to be a picnic soon?
That's just what we want to
do because the "Harborites"
E.S.L. 856 will sponsor an
outing on Sunday, July 8, at
the Black Oak Grove.
Get a group together and
come out to the picnic for a
grand old time. Remember
those picnics when we were
youngsters? The old folks
would gather and sing all the
Croatian songs they could
think of. Why not try to
make this picnic the same?
We're always saying re
member this or remember
that but when you stop to
think, we could bring joy in
to our lives by doing the
things we love to do. We
should attend these picnics
instead of remembering the
ones of years gone by.
Harborites members, here's
your chance to see the old
gang again. Pack up your
things and we will see you all
at Black Oak Grove on July 8.
Committee
Ambritfge Lodge, Nest
In Joint Fete July 22
Ambridge, Pa. C. F. U.
Lodge 304 and Nest 36 will
co-sponsor a Picnic Sunday,
July 22, 1956, at the Fire
men's Park, Fair Oaks, Pa.
There will be plenty of bar
becued lamb and refresh
ments and music will be fur
nished by the Yorgovan Tam
buritza Orchestra of Am
bridge. Everyone is cordially
invited to attend.
Featuring
EVERY SATURDAY NITE STARTING JUNE 16th
10:30 P.M. TILL 3:00 A.M.
Spacious Dance Floor Good Eats Drinks
Manager Andy Yatsko Owner
EXCHANGE STREET
(Heart of Massillon, Ohio)