The Irish standard., 1917-08-18
KNIGHTS Of COLUMBUS
SUPREME COUNCIL /,
IN CONVENTION ( s
The Report of National Secretary Nc
GinIey Reflects Great Progress Made
During the Past Year-Membership
Increased BY $4,000; Funds BY Over
100000.

100000.
The national convention of the
Knights of Columbus opened in Chi
cago Tuesday. A pontifcal high Mass
was celebrated in the Holy Name Ca
thedral by Rt. Rev. A. j. McGavick,
Auxiliary Bishop of Chicago, and the
sermon was preached by the Rt Rev. |
Mgr. F. G. Kelley, president of the
Church Extension Society.
Creation of war fund of $3,000,O00
for recreation centers, foreign intelli-
gence bureaus and auditoriums for the
new rational army was decided by the
Supreme Council Tuesday. The fund
will be used to provide comfort for all
soldiers regardless of creed or color, |
it was announced.
The annual report of National Sec
retary William j. mckinley reflected |
the great progress made during the
year. The report showed net in
crease during the year of councils, 20;
of insurance members, 6,646; of asso-
ciate members, 21,196; net increase of
assets, over $7O0,000.
The report follows:
During the year total collections
amounted to $2,232, ,360.9S. Adding the
balance on hand at the beginning and
from this total deducting disburse-
ments it will be noted that our present
assets, exclusive of special funds are
over seven and one-half millions, hav-
ing been increased during the year by
over seven hundred thousand dollars.
The sum of $267,SOO was saved to the
insurance members of the Order by
the dropping of the July and Decem-
ber, 1916, assessments.
During the year investments were
made by the finance committee of the
board of directors for account of the
mortuary reserve fund of 1856, ,963.31,
including $6,550.O6 accrued interest,
and at an average annual yield or re-
turn on investment of 4.15-100 per
cent; the yield on our total mortuary
reserve fund investments being over
per cent.
The Chicago and Eastern Illinois
Railroad Company, and the Boston &
Maine Railroad Company, of which
corporations we hold bonds to the
credit of mortuary reserve fund, $40,-
900 par value of the former, and $751;
900 par value of the latter, have de.
faulted on interest; the Chicago &
Eastern Illinois Railroad Company,
that due May 1, and November 1, 1915;
May 1 and November /, 1916, and May
/, 1917; the Boston & Maine, that due
on September /, and October 1, 1916,
and January 1, March 1, April and
July 1, 1917. Plans for the protection
of the security holders are under con-
sideration, and our interests will be
protected.
Death benefits paid during year
amounted to $956,066.11, the total paid
since beginning being $9,921, ,704.S7.
Insurance liabilities at the close of
the period account of all deaths of
which we had knowledge regardless
of whether claim had been filed,
amount to 33,276.16, of which there
has since been adjusted and paid
$4,000.
Our reserve liabilities on certifi-
Gates outstanding December 81, 1916,
per calculation of our consulting actu-
ary, based on the FraternalAmerican
table of mortality, with interest as
sumtion of four per cent were $5,3l4,-
O98 Our mortality experience during
the year 1916 was 81 49-100 per cent
Total insurance in force June 80, 1917,
was $13O,O99,S59.50.