ZajednicÌŒar = Fraternalist. [volume] (Allegheny, Pa.) 1894-current, 1956-06-27
Soce Supreme Board Meetings OF March, 1850 Part

SOo1O NASS~sHs9S ~ ~
beneficiaries who will receive the death benefit after the
members DEATH whereas they should pay their parents
dues themselves for they will benefit by it themselves He
of the opinion that the Society really does much for
it's old members in this respect.
Brother Mandich explained the brought out by|
brother Krasch In former years. the interest yield our
investments was 40 $50. Then operated with 40
Later the interest yield declined, and COM
increased contributions about Is per thousand dol
of life insurance Still later economic conditions be-
low &c., and again forced to increase our dues and
adopted the go rates. which again increased contributions
by approximately Is cents per thousand dollars of insr
ance That that the new, younger members paid
about 25 cents per thousand dollars of Insurance than
the older members Interest rates affect certificates for
certain interest yield not obtained for the difference
in contributions then at maturity the certificates do not
attain their sovency In that the necessary amount
be made up lien recorded against the certificate
few years ago. we were faced with the possibility
of having to place liens against all certificates OF our older
MEMBERS to make up the reserve deficit or, which would
be worse raise their dues We decided to Contn-
gency Reserve Fund of to bolster the reserves
Of all certificates the 40 and 329 basis held by our
members
In that manner we transferred this large amount to
the credit of old members; in other wordes gave
that amount out of their pockets But that not
enough Another hundred thousand dollars needed
In that predicamen and order to help our old members
reduced the dividends to all members by 3Oo and
during each of two years put in $4,000 for subsequent
balancing of the of older membership In that
manner, old members presented the sum OF
81 OOOO out of the mortuary surplus fund of the total
membership and by reduced dividends That is how this tre
mendous amount of money was given directly to our old
Members of the Supreme Board continued brother
Mandch this is proof that really help old members
much can and in all fairness should not be
expected for it cannot be given.
Brother servov said he did not know about all this
considered this wonderful facet of Union and it
his desire that everything stated by brothers Krasch
Mandich be recorded the minutes which he make
of with the Insurance Commissioners to point up the
humanitarian side of our aid to membership.
Brother Frank Braidc also spoke this real aid
and said could complain that the Society did not
take him into consideration.
In view of this discussion it unanimously decided
that the present custom regarding 5Oear pins be con-
tinued
Brother Mandch brought up subject of the National
Conference Citizenship pointing to the Importance OF
this Conference and it's significance which approved
by the u S. Congress- He continued that nasmuch as our
Union doing business in more than one-ha OF the states
of the Union it should become founding member OF this
Conference the annual fee being $780, and an additional
donation is asked.
Brothers Krasich Grasha Servov and others also spoke
on this subject and the unanimous decision to pay
total of $780, including the fee, our donation.
/ Brother Mandch said there more important
matter that of scholarships He read the Minutes of the
Convention with reference to this discussion He said this
was not mandate but was to serve as basis for discus
sion and decision by the Supreme Board this
ton He recommends that the Of $4,000 be from
the Educational Fund and deposited in Scholarship Fund
from which would be awarded to needy and de-
serving students of $100 annually which would assure
greater number of students receiving scholarship
Brother Hnich said this method would be better, and
this the way he interpreted the matter to the Convention
Committee, tnat Is, assistance given
who needy and need assistance and not to
those who able to pay for their own schooling.
Due the late hour, brother Mandch adjourned the
meeting calling the next to begin the following morning
and continue the discussion before the Board
Philip Vukelich Recording Secretary
Seventh Meeting, Thursday Morning March 22nd 1856
Supreme President bro " l. Mandch called the Sew
Meeting of the Supreme Board to order Thursday
morning, March 22nd, 1886.
Present were all Board members and other officials Of
e the Society.