B U L L Ec In

; i ` L N.A.�� . BULL EC IN

December In Two Sections 1955 Section 2

In the News

Season's Greetings From the National President 555

1957 Annual Conference to Gather in Washington, D. C. 556

Friendly Rivalries Spur Chapter Competition 558

Lybrand Awards are for N.A.C.A. Authors 563

N.A.C.A.'s International Impact 567

In the Public Eye 561

Congratulations To 565

Chapter Competition

569

Chapter Meetings

570 N.A.C.A. BULLETIN Volume XXXVII, Number 4

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BULLETIN BOARD

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THE CHRISTMAS SEASON brings to all of us a deep feeling of joy. The joy of giving, the joy of being with one's loved ones, the joy of being a little closer to our Heavenly Father. As I write this tonight, perhaps I feel a little bit lonely. I am in a small hotel room (grounded by the weather), after coming in off the snowy streets already lighted with traditional Holiday decora- tions. People are especially friendly at this time of year. The spirit of brotherhood, the warm friendly spirit which is as old as the ages, is evident on all sides. It is indeed regrettable that this spirit cannot be evidenced throughout the entire year. You must agree we would all lead better lives if it could. "On Earth, Peace, Good Will toward Men" carries a much richer promise than a seasonal catch - phrase. It carries our prayers, for a lasting peace. It carries the promise of man's brotherhood to man. Christmas is a time for thanksgiving Charles R. Israel We are thankful for our wonderful fami- lies, friends and associates and the country which makes all this possible. The traditional Christmas message from the President gives me the opportunity to wish you and yours all the fine things in life that I would wish for you if it were possible to talk to each of you personally. May the coming year bring to you all the blessings of life and to each of you a very Merry and Happy Christmas. CHARLES R. ISRAEL

DECEMBER, 1955 s s 1957 Annual Conference to Gather in Washington, D. C.

tion and informative in its reach and coverage, as well as the social events which regularly feature N.A.C.A. Annual Cost Conferences. Accompanying this account are several photographic remind- ers of scenes which make Washington at- tractive to visitors from all parts of the country. These scenes symbolize the national unity which has made possible the homogeneous industrial growth reflected in N.A.C.A.'s own part in facilitating the The nation's Capitol Building where Senate and House Chambers are, as well as the Vice Presi- operation of America's enterprise econ- dent's office. omy. HE PRESENT STORY jumps ahead of Earlier Conferences T the engrossing events of the current In the earlier years of the Association, N.A.C.A. year to announce the approval varied sites in the Northeast and Middle by the Association's Board of Directors of West were chosen for the Annual Con- plans to hold the 1957 Annual Confer- ferences. The number of chapters was ence in Washington, D. C. from June 23 to 27, 1957. This will be the first time considerably smaller and almost wholly in in a history which w i l l then number 38 these areas of the country, which rendered conferences, that N.A.C.A. has met in the nation's capital. The sessions will take place at the Shoreham and Sheraton Park Hotels among the attractions which Washington offers to all Americans drawn there by business and /or pleasure and will occur shortly after the inception of a new Presidential term has marked another step in American history. Except for novelty of site, the plans for the 1957 Conference involve no foreseen changes. It is expected to offer a tech- The White House, home of America's Presidents since John Adams who moved to It in 1800 (re- nical program timely to the year in ques- stored after war damage in 1814). 556 N.A.C.A. BULLETIN practicable an attempt at rotating con- policy is not a rigid one and allows for ferences among the principal cities rep- new conference sites when this is desir- resented so long as these offered hotel able. facilities equal to the growing demands To Chicago-June 1956 of the Conference. Besides Chicago and The 37th Annual Cost Conference, as New York, these sites included Boston, has already been announced, will conform Buffalo, Cincinnati, Cleveland, Detroit, to the pattern of recent years and will Pittsburgh, St. Louis, Springfield and take place next June 24 -27 at the Conrad Syracuse. Annual conferences were also Hilton Hotel in Chicago. As indicated in the Bulletin Board of last month's issue of the Bulletin, the columns of Sec- tion 2 in the six issues which remain before it convenes, will contain an increasing amount of detail reflecting the development of the program and informing N.A.C.A. members of arrangements. Al- though the committees to have charge of Pow

Washington's Home at Mount Vernon, Va. one

of the principal tourist Mecca's of Capital and vicinity.

held at Atlantic City, Hot Springs (Va. ) and West Baden, Indiana. Since 1941, with the exceptions of the 1943 Conference at Boston and the 1953 Conference which met at Los Angeles and was the first to travel to the far West, A view of the Lincoln Memorial which receives many visitors each year, who wish to pay homage N.A.C.A. has met in alternate years at to the Great Emancipator. New York and Chicago, which alone the preparations are still in process of have possessed the hotel facilities for a formation, they will be definitely in ac- conference the size of the N.A.C.A. an- tion by the time 1955 changes into 1956. nual meeting. This situation has changed Stories in the Bulletin will attempt to somewhat and is subject to further keep pace with developments, which will change. At all events, the 1953 con- have the objective of carrying the coming ference was — and the 1957 conference conference at Chicago to the heights of will be — assurance that the present its predecessors —and beyond. DECEMBER, 1955 557 Friendly Rivalries Spur Chapter Competition

T THE CLOSE OF November the dead. of the inter - chapter contest, as will be A line for inter - chapter competition noted by many members from their Chap- challenges and acceptances for the 1955- ter Newsletters as the year progresses, is 56 chapter year passed, with 36 such con- the opportunity and stimulus to measure tests arranged for at the date of this writ- the chapter's performance, activity by ac- ing. These contests lend an added zest tivity, with that of another chapter —as to the year -long try for competition is less possible in the Chapter Competi- points. Of course, the goal of every tion as a whole —and so to "find the hole N.A.C.A. chapter is the winning of the in the line," ..spot the potential pass re- Stevenson Trophy or, failing that, the ceiver" or "run interference" in the most Remington Rand Trophy or the highest effective manner. place banner it can achieve. This is for Two Kinds of Contest the same reason that every college foot- ball team starts out for an undefeated A list of inter - chapter contests recorded season or a professional baseball team for at National Headquarters is given below its league's pennant. The top spot is the and its detail will doubtless provoke in- top incentive. Nevertheless, a rivalry be- terest. Shown there are many "ivy tween individual teams also finds its place league" pairings of neighbor chapters be- in sport and so it does, too, in the Chap- tween which the existence of friendly but ter Competition. energetic competition would be likely to That is why it is provided in connec- grow. Typical of these contests are those tion with the Chapter Competition that which pit Bangor against Southern Maine, N.A.C.A. will recognize each chapter en- Hartford against Worcester, Baton Rouge gaging in an inter - chapter contest with against New Orleans, or Dallas against a single opponent, by a winner or runner - Fort Worth. But rivalries aren't always up award —as the case may be. The date between neighbors. The spark of contest of November 30 as the final one for en- flies farther. Hence, we have Birming- tries was set for the current year as a ham against Lancaster, Denver against practical one in the interests of an even Long Island, Long Beach against Racine - start in all instances for the paired chap- Kenosha. These seem to have the atmos- ters and a long enough contest period. phere of the Rose Bowl about them! It will be at once apparent that the 36 The majority of N.A.C.A. members contests, involving double this number will find their respective chapters and of chapters, place some two - thirds of rival chapters in the following listing: N.A.C.A. chapters in specific as well Akron —Erie as general rivalry for the duration of Albany— Bridgeport this year's competition. One service Baltimore — Brooklyn

358 N.A.C.A. BULLETIN Bangor —So. Maine Hagerstown — Harrisburg Baton Rouge —New Orleans Hampton Roads —York Birmingham —Lan caster Hartford— Worcester Boston — Detroit Houston —San Antonio Buffalo— Indianapolis Kansas City— Wichita Cedar Rapids — Knoxville Lake Superior — Muskegon Chattahoochee Val.— Jackson Long Beach — Racine - Kenosha Cincinnati — Louisville Los Angeles— Pittsburgh Cleveland —St. Louis Mass. North Shore — Merrimack Valley Columbus— Toledo Mobile —North Alabama Dallas —Fort Worth New Haven — Norwich Dayton —Twin Cities Newark — Trenton Denver —Long Island Paterson — Raritan Valley Elmira Area — Lehigh Valley Peoria — Sangamon Valley Evansville—Mid-Hudson Portland — Seattle Fort Wayne — Lansing Providence — Springfield Grand Rapids — Kalamazoo Rochester— Youngstown Greenwich - Stamford— Mohawk Valley Rockford —Tri- Cities

WE REMEMBER

Clarence H. Koebbe, 54, DETROIT (1944), Arthur S. Greenamyer, 51, YOUNGSTOWN Ernst & Ernst. (1943), Mullins Mfg. Corp. Thomas Arthur Moore, 59, CHICAGO (1955), James E. McGarr, 45, ELMIRA (BOSTON Simpson Optical Mfg. Co. 1947), Sylvania Electric Products, Inc. Hermann C. Miller, 60, COLUMBUS (1927), Herbert G. Shaw, 60, GREENWICH- STAMFORD Chairman of the Department of Account- (NEW YORK 1940), U. S. Industrial Al- ing, The Ohio State University. cohol Co. Robert R. Haskell, 57, MASSACHUSETTS NORTH SHORE (BOSTON 1933), Robert Gustaf E. Johnson, 60, JAMESTOWN (1937), Haskell Company. Dahlstrom Metallic Door Co. Robert Douglass Bell, 63, MOBILE (1952), William L. Totten, 48, SYRACUSE (PHILADEL- Manager of the Insurance and Tax De- PHIA 1936), Morris Machine Works. partment, Alabama Dry Dock and Ship- building Co. M. L. Clement, 46, OCT (NASHVILLE 1941), James B. McKinney, SCRANTON (1936), International Minerals & Chemical Corp. Comerford Theatres, Inc.

DECEMBER, 1955 559 Chapter Officers and Directors Enjoy Hospitality of New Haven Railroad

T THE INVITATION Of officials Of the and Hollis Coyle, Assistant to the Comp- A New York, New Haven and Hart- troller. Mr. Coyle acted as host for the ford Railroad, the officers and directors Road. On the invitation of the Chapter, of N.A.C.A.'s New Haven Chapter held the gathering was also attended by Rawn their regular September meeting in a rail- Brinkley, National Assistant Secretary of road car made available by the road's N.A.C.A. President Patrick McGinnis. Represent- Mr. Beauton and Mr. Brinkley spoke ing the railroad on this unique occasion were Arthur H. Barr, Chapter Publicity briefly. The meeting, which was, in a Director, Assistant to the Cashier of the sense, the "get- away" meeting for action New Haven Railroad; Chapter member after summer planning, benefited from Arthur J. Beauton, Assistant Comptroller; the authentic setting in which it was held.

W earing trainman's caps, New Haven Chapter Officers and Directors meet in private car made available by the New Haven Railroad. In the front row (chairs visible) are, from left to right, Joel Lehrer, George R. Ladner and Joseph H. Riley. In middle row: W illiam R. Ford, John S. Miner, Daniel Schmitt, Jr., Robert W. Holmes, Bruno D. Jacobs, Frank J. Kelly, Jr., Arthur H. Barr, Peter M. Reding, and Hollis Coyle (Host). In the rear row: Richard G. Thorpe, Raymond W. Andrews, John E. Lloyd, Al bert Mahan, Rawn Brinkley (National Headquarters), and Arthur J. Beauton.

560 N.A.C.A. BULLETIN IN THE PUBLIC EYE

Albany's George Armstrong and Patrick A. Detroit's E, IV. Gaynor has won second place Murtagh have been appointed to make an in the annual manuscript competition audit of the Albany Federation of Churches. sponsored by the Federal Government Accountants Association. His article, Atlanta's Steve H. Bomar has been elected "Modern Sampling Technique," appeared Vice President and Treasurer of The Na- in the June 1955 issue of The Federal tional Association of Bank Auditors and Accountant. Comptrollers, for 1955 -56. . Glenn Evansville's Thomas H. Koerner recently ad- Jones was recently elected to the National dressed the Evansville chapter of the Board of Directors of the National Office American Society of Women Accountants. Managers Association. Fox River Valley's Edward L. Anderson has Baltimore's Leonard B. Rowles has been completed a three -year course and re- elected Treasurer of the Maryland Asso- ceived the Executive Award from the ciation of Certified Public Accountants. Graduate School of Credit and Financial . William R. Phelan was recently Management at Dartmouth College. selected as the "Reserve of Renown" rep- Jamestown's Richard Smith is now on the resenting the Fifth Naval District. A fea- Evening Division Staff of Jamestown ture article about Mr. Phelan appeared in Community College. the magazine of the Bureau of Supplies and Accounts, the Newsletter. The selec- Lansing's Dorr Hathaway has recently ad- tion was made on the basis of participa- dressed the Michigan Municipal Utilities tion in the Naval Reserve program, Association in Houghton, Michigan, and personal achievements in civilian, profes- the American Waterworks Association in sional, and civic activities. Flint. He spoke before the Houghton group on "Property Records and Deprecia- Binghamton's Paul Ferencik and Robert Linds- tion," and before the Flint association on ley have recently received fellowships in "Insurance for the Utilities." the Life Office Management Association. Nashville's Cal Morrow has been elected President of the Nashville Chapter of Na- Boston's Maxwell A. H. lVakely addressed the tional Machine Accountants Association. fifth annual Tulane Tax Institute, held in November in New Orleans, on the sub- New Orleans' John Favaloro has been ap- ject: "Survey of Tax Accounting Under pointed to the Louisiana State Board of the 1954 Code." Certified Public Accountants. New York's John F. Costelloe addressed Calumet's Aubrey Lovegrove, Jr. has been ap- Tulane University's fifth annual Tax In- pointed head of the professional division stitute in New Orleans on "Non- Taxable of the 1955 Gary Community Chest Cam- Benefits for Employees." . . Roger paign. Wellington spoke before the American Institute of Accountants' annual confer- Chicago's John L. Marley spoke before the ence on the subject: "Trends in Develop- Conference of the North Central Divi- ment of Electronic Accounting for Small sion of the National Machine Accountants Enterprises." . . . Leslie Mills addressed Association, in Chicago, on the topic: the AIA conference on "Defense Account- "Applying Integrated Data Processing to ing." . . . 1.S. Seidman was Chairman Production Control." . Horace G. of AIA conerence session on "Taxation." Barden was Chairman of American Insti- Saul Levy was Chairman of another tute of Accountants' recent conference AIA conference session on "Recent De- session on "Reporting Standards." velopments Affecting the CPA's Legal Responsibility," and was the recipient of Des Moines' Herbert Harris is now conduct - an AIA Award for "outstanding service ting an evening Cost Accounting course to the accounting profession" and for at Drake Community College. "contributions to civic affairs."

DECEMBER, 1955 561 Northern Wisconsin's Robert Rand, who has Sangamon Valley's Robert 1. Dickey reviewed served several two -year terms, was re- the article "Frontiers of Accounting Prin- cently elected President of the Manitowoc ciples" (which originally appeared in The City Council. Illinois Certified Public Accountant) in the October Journal of Accountancy. Paterson's Charles Replinger attended a three - day meeting at Indiana University con- Seattle's M. B. Lake was elected Director of ducted by the Institution's Property Tax District Six of the National Association School, sponsored by Indiana assessors. of Bank Auditors and Comptrollers during this organization's recent conference in Philadelphia's Frank Ehmann had a letter Denver. published in a recent issue of The Con- troller on the subject "Handicaps of the Twin Cities' Robert W. Fischer addressed the Calendar." 31st annual convention of the National Association of Bank Auditors and Comp- Piedmont's Willard J. Graham spoke before trollers on the subject: "Evaluating the the American Institute of Accountants' Audit Program." . D. C. Steinhelber conference in Washington, in October, on was a speaker at the recent midwest re- "Contribution Colleges Should Make to gional conference of the Institute of In- Professional Education." ternal Auditors held at the University of Wisconsin. Providence's Lester Ageloff was the author of a review on the article "The Most Air Washington's Lindsley H. Noble and Howard Force for Your Money" in a recent issue W. Bordner participated in a panel dis- of the Journal of Accountancy. cussion at the Fifth Annual Symposium of the Federal Government Accountants Raritan Valley's William Langenberg ad- Association held in Washington on No- dressed the Industrial Management Insti- vember 15. tute, presented by the University of Illinois in cooperation with the Illinois Manu- Worcester's George Shannon addressed the facturers' Association, on October 25, on Small Business Administration's seminar the subject: "New Techniques for Meas- on retail management, in October, on uring Productivity." "Controls in Retail Merchandising." . . . William H. Perks has been named Trustee Rochester's Harold A. Ketchum has been of Controllers Institute of America's Con- elected Vice President of the Controller- trollership Foundation Inc. . . . Ray Bon - ship Foundation, research arm of the enfant is a recent graduate of the Gradu- Controllers Institute of America. ate School of Credit and Financial Man- agement, conducted by the Credit Re- Sabine's Richard Allen has been appointed to search Foundation at Stanford University the World Trade Committee of the East and Dartmouth College. Texas Chamber of Commerce. York's John H. Myers reviewed the article Salt Lake City's Gordon J. Miller reviewed, "A Costing System for a High Power Re- in a recent issue of Journal of Account- search Reactor," which originally ap- ancy, the article "Business Entries —From peared in The Canadian Chartered Ac- Common Law to the New Uniform Rules countant, in October's Journal of Ac- of Evidence." countancy.

56 2 N.A.C.A. BULLETIN Lybrand Awards are for N.A. C. A. Authors

THAT SUBJECT? Who will be the au- cation in the N.A.C.A. Bulletin. Value of thor? What chapter will he repre- a manuscript is always appraised in terms sent? When will it be submitted? All of contribution to industrial accounting these are certainly open questions with literature. In this light, it is reasonable respect to the manuscript which will win to interpret the six -year record of the Ly- the sixth Lybrand Gold Medal next June brand Awards as indicating that they are as contributing most to the literature of within the reach of all N.A.C.A. mem- industrial accounting, and equally open bers. What is this record? with respect to the second prize silver medal and the twenty -five certificates of They Write About .. . merit also to be awarded. However, sev- As to subject, the record of award - eral things are certain. The award win- winning manuscripts is, as one might ex- ners will be N.A.C.A. members —for pect, diversity within the industrial ac- eligibility is restricted to members —and counting field. To limit examples to the the manuscript in each case, will be on dozen articles which have won for their an industrial accounting topic and will author and his chapter either a gold or be received at National Headquarters silver medal, it may be commented that postmarked on or before April 20, under these show a centering about staple topics the Lybrand and Chapter Competition and a scattering of less frequently treated rules. Further, virtually all will be pub- ones, again as one might expect, for these lished in the N.A.C.A. Bulletin. The are the natural characteristics of N.A.C.A. medal awards decisions will be made in Bulletin contents, stemming from the May by a Lybrand Awards Committee quantitative aspects of what industrial ac- appointed each year for the purpose. countants would naturally write about. Of Certificates of Merit are granted on the this even dozen medal papers, two each bases of manuscript base grades for chap- have dealt with standard costs and fixed ter competition purposes. asset control and /or replacement, one It should be emphasized for the as- each with budgeting, reports to manage- sistance of any N.A.C.A. member con- ment, costs for planning purposes, admin- templating writing a manuscript that its istration of an accounting department, submission in the Chapter Competition productivity measurement, and the al- qualifies it for Lybrand Awards consid- ternative of leasing or buying manufac- eration if a duplicate copy is provided. turing equipment, and two have treated Consequently, the Lybrand Awards com- cost differentials related to the Robinson - petition is essentially one among member - Patman Act. authored manuscripts submitted for chap- This pattern of award - winning articles ter credit on the basis of value for publi- on subjects central, important, and peri-

DECEMBER, 1955 563 pheral to industrial accounting is con- pense controller, and works auditor. These firmed by a review of the entire 150 position names are clearly not to be read papers for which Certificates of Merit in a limiting way but for the degree of have been given since the awards were variety revealed. Again, a review of the instituted in 1949. full list of certificate winners, including authors of papers considered by the Author and Chapter medals committee, would add consider- As to author, it is not inappropriate ably to the range of titles within and to these pages to simply say, "He may without the employ of industrial com- be you ", for, more often than not (and panies. this phrase is not simply a rhetorical ex- As to the chapter, taking once more pression but a reflection of the record), the twelve gold and silver medal- winning the authors of the successful manuscripts manuscripts, diversity is the key note. are first -time writers. This encouraging Chapters east, west, and south, large and circumstance seems to be due, in part at small, new and old have now been rep- least, to the orderly thinking and system- resented. There have been medal -win- atic presentation of material which is a ners from Massachusetts North Shore, normal part of the industrial accountant's Baltimore, Newark, Birmingham, Lan- training and experience. caster, Columbus, Rockford, Chicago, and As to position held by the author, di- San Francisco thus carrying the list across versity is also a characteristic of award the country. This listing, together with winning papers. The record shows, for the fact that 74 chapters are now rep- the twelve manuscripts already cited, that resented by winners of Certificates of the range in position level represented by Merit, suggests that all an N.A.C.A. authors employed by industrial companies member needs to get in the running for is from executive vice president of a sub- a Lybrand Award is a look around him, stantial division of a prominent steel com- and paper and pencil. pany to the manager of costs of a surgi- As is widely - known, the Lybrand cal dressing concern and that, outside of Awards honor William M. Lybrand, sec- industry, one author was professor of ond N.A.C.A. president, whose partners business administration and another of in the firm of Lybrand, Ross Bros. & accounting at the time of writing their Montgomery established them. They serve respective papers. The positions held by their purpose when they provide the the eight other authors at the time their stimulating "plus" which inspires an papers were submitted were controller, N.A.C.A. member to enter the competi- assistant controller, (in two cases) divi- tion for them and so contribute to their sional controller (in two cases), super- underlying objective, additions to the visor of costs and budgets, divisional ex- literature of industrial accounting.

5 6 4 N.A.C.A. BULLETIN CONGRATULATIONS TO

James Jennings, CALUMET, on his promotion moied to Comptroller and Manager of to Assistant to Work Auditor at South Accounting, respectively, of the Aircraft Works. . . . Robert Walker, who has Division of Fairchild Engine and Air- been promoted to Supervisor of Field Ac- plane Corporation. counting —Tin Mill at Inland Steel. . . Ralph Pendergast, now Controller of Adrian F. Keevers, HARTFORD, recently pro- Steel Transportation Company. moted to Secretary and Treasurer, and elected to the Board of Directors, of the Jack S. Ebright, COLUMBUS, elected President George P. Clark Company. of Agricultural Laboratories, Inc. . . . Gene Herron, upon his election to Treas- Dr. J. Marvin Sipe. HOUSTON, who has urer of the same firm. opened his own public accounting office in Houston. Rafael A. Novarrefe and Ruben D. Rivero, E. F. Hagel, INDIANAPOLIS, upon his election CUBA, who have joined the public ac- to Vice President in charge of cost and counting firm of Manrara and Perez Daple. engineering at the Inland Container Cor- poration. Hannah Thompson, who Richard Y. Greenwood, DAYTON, who i.c . is the new Chief Accountant and Office the new Comptroller of Standard Electric Products. . D. R. Matthewson, now Manager at the Skirvin Corp. . Earl M. McClure, now General Auditor at Comptroller of Delco Products. Eli Lilly & Company. . . . John Serak, Larry Mitchell, DENVER, who has been made the new Biological Cost Supervisor at a Partner in the firm of von Tobel & Pitman Moore, Zionsville Plant. Carr, C.P.A: s. . Max Galambos. made Controller of Jeppesen & Company. Alton Swanson, JAMESTOWN, who has been appointed Instructor in the Accounting . Otto Bufferly, who has been ap- Division of Jamestown Business College. pointed Manager of the new Denver office of Price Waterhouse. . . . J. W. Frank R. Warner, Jr., KALAMAZOO, recently Hailpern, who has formed a partnership appointed Treasurer of the Rocky River with William Sperling for the practice of Paper Company, Three Rivers. public accounting. Arnold Hofstad, LAKE SUPERIOR, now As- William Skillman, DETROIT, upon announce- sistant to the Vice President and General ment of formation of a partnership to be Manager of International Refineries, Inc., known as Bushatv, Skillman & Stacks. at Wrenshall. Reginald Davies, who has been elected Treasurer of the Formsprag Com- Arthur Boardman. LANCASTER, named Divi- pany. . . . John McManus, who joined sion Cost Accountant for the Insulation William C. Roney & Company as Con- Division of the Armstrong Cork Company. troller. . . . Thomas Ouellette, who has Thomas C. Atkinson, now Cost opened a public accounting office. . . . Economist in the Corporate Budgeting William Atchison, who has been ap- and Accounting Department of Armstrong pointed Product Planning Manager in the Cork Company. Special Products Division of Ford Motor Company. . . . Harold McMann, now Jerald S. Hanks, LEHIGH VALLEY, elected Office Manager of Warner Tool Company. a Director of the Quaker State Coca -Cola . Ray Barker, upon his appointment Bottling Company of Pittsburgh. to Assistant to the Treasurer of R. C. Mahon. Henry Dixon and David Cohee, LONG BEACH, who have recently become Partners in the Preston A. Britner, Jr., HAGERSTOWN, who CPA firm of iP/indes & McClaughry... . has been promoted to Assistant to the Andrew Atkinson, promoted to Treasurer General Manager of The Fairchild Engine at Kwikset Locks, Anaheim.... Edward and Airplane Corporation. . . . James DeParrie, upon joining Marotta Valve M. Archer and John H. Hammer, pro- Corp., Santa Ana, as Chief Accountant.

DECEMBER, 1 9 5 5 565 A. Theodore Mattison, Jr., LONG ISLAND, Harry E. Ryan, PITTSBURGH, made President who has been appointed Controller of Re- of the New Kensington Commercial public Aviation Corporation. School. . . . Sam J. LaRocca, appointed Controller of Jones & Brown, Inc. . . . Richard Engelhorn, Los ANGELES, upon his Jack D. Marquis, who has been ap- promotion to Manager of Accounting pointed Manager, Financial Research and Machine Sales, N.C.R. Company, Las Economics Section, of Gulf Oil Corp. Vegas. . Max Lazerus, who has become a Partner in the newly- formed firm William Bromley, RACINE- KENOSHA, upon of Irving Feiger, CPA.... Arden Harris, Ioining Quirk Manufacturing Company, now Assistant General Controller of Car- as Head of the Cost and Payroll Depart- nation Company. . Stanley Wainer, ments. upon election to Assistant Treasurer of William Langenberg, RARITAN VALLEY, who International Telemeter Corporation. . . has been named Assistant Controller Dave Allen, now Assistant and General of Johnson & Johnson. Control Manager of the Export Division of U.S. Rubber International. . John G. Randolph Garrett, RICHMOND, who has Underwood, promoted to Office Manager been made Plant Comptroller of the of the Los Angeles office of Trailmobile, Chesterfield Plant of Allied Chemical E Inc. Dye Corp. Franklin T. Pierce, MASSACHUSETTS NORTH Jarl Ederstrom, ROCKFORD, new proprietor SHORE, appointed Chief Accountant at of Ginders Hospital Supply Company, the Beverly Factory of the United Shoe Machinery Corp., Beverly, Mass. Walter J. Hawley, ST. Louts, named Con- troller of the St. Louis and Southwestern Charles C. Benedict, MILWAUKEE, named branches of the National Lead Company. Controller of the Okonite Company. Samuel Leopold, TRENTON, who has been Albert F. Orr, MOHAWK VALLEY, recently reappointed to the faculty of the School retired after 37 years with Dunlop Tire of Commerce, Accounts and Finance, of and Rubber Corporation of Utica. New York University. . . . E. Watson Palzer, Jr., upon his promotion to Plant Jahn Melanson, NEW HAMPSHIRE, who h Accounting Manager of the Trenton Plant now Controller of John A. Connare, Inc. of Congoleum- Nairn, Inc. ... William Ford, upon starting his own practice in Manchester. Chester Bogusky, TWIN CITIES, now Office Manager of the newly formed Ives- Vander Thomas J. Rowe, NEWARK, who has been Bies Inc., subsidiary of- Foremost Dairies. named Vice President of the Shippers Car Line Corp., subsidiary of ACF Indus- William Millner, WESTERN CAROLINAS, who has been promoted to Chief Accountant tries, Inc. of the Olin Indiana iY/orks and will as- Osmond Gardner, NORTH ALABAMA, ap- sume this duty in the spring upon comple- pointed Special Agent of the Prudential tion of construction of company offices. Insurance Company of America in the George Wharton, WORCESTER, appointed Huntsville area. Head of the Central Production Planning Department of Bachmann Uxbridge Wlor- William M. Gwynn, PHILADELPHIA, who has sted Corporation. joined 1 -T -E Circuit Breaker Company as Treasurer. . Richard J. Bryant and Cyrill A. Bielek, YORK, who has been ap- F. Allen Rutherford, Jr., made Partners pointed Assistant to the President of the of John Heins & Company, CPA's. . York Hoover Corporation, E. E. Reardon, elected Controller of the Continental - Diamond Fibre Division of C. W. Claypool, YOUNGSTOWN, upon his the Budd Company.... Fred Feideamp, promotion to Manager of Accounting, In- who joined the Auditing Staff at Piasecki dustrial Heating Division, Westinghouse Helicopter. Electric Corp., Meadville, Pa.

566 N.A.C.A. BULLETIN N. A. C. A.'s International Impact

N IMPORTANT ASPECT Of the tech- two island chapters, Hawaii in mid -Paci- A nology of production — America's fic chartered in 1922, and Cuba between strong point —is the technology of indus- the Caribbean and Atlantic established in trial accounting. Hence, N.A.C.A., dedi- 1943. The existence of these chapters has cated to advancement of this field, has not meant promotion of a far flung in- had international appeal from its begin- ternational organization. It may be re- ning. Since World War II there have garded as symbolic pioneering beyond the been an increasing number of concrete three -mile limit. evidences that one of the services of Further pioneering has been in the N.A.C.A. to the current -day world lies realm of influence rather than organiza- beyond continental borders. This is, per- tion. Because membership in N.A.C.A. haps, a proportionately minor service but brings an individual into closest contact not less interesting for that reason. The with its services and facilities, the wide- overseas impact of N.A.C.A. takes sev- spread membership in foreign lands is eral forms. First is the existence of two probably the greatest single evidence of chapters located at some distance in sur- its educational influence. Although out- rounding waters. Another, and more em- side of chapter territory and not readily phatic indication, is the inclusion in mem- accessible to regional or national confer- bership of individuals in 57 countries besides the United States. The interest ences, these members regularly receive the evidenced abroad in N.A.C.A. publica- N.A.C.A. Bulletin and other literature tions is still another important and grow- and frequently avail themselves of tech- ing influence. nical service through written inquiry. The Finally, there is the influx of visitors last annual report of N.A.C.A. disclosed from abroad who, on return home, carry members in 57 countries and six con- some word of N.A.C.A. and its work. A tinents. That leaves out only Antarctica. considerable number of such visits have It includes besides England and the been "team" visits from other countries Dominions (to give an incomplete list in under auspices of the Foreign Coopera- order to illustrate the comprehensive tion Administration. It is planned to re- character of the complete one), Argen- view the record of these visits in a com- tina and Brazil in South America; France, ing issue of the Bulletin. Germany, Italy and Finland in Europe; Egypt, Lebanon, Israel and Turkey in the Island Chapfers near East; and Japan, China, Indonesia, As indicated, the first influence of India and Pakistan in the Far East. It N.A.C.A. abroad was the setting up of includes many neighboring lands.

DECEMBER, 1955 567 Members In Good Standing terprises exist on the other side of the Atlantic and of the Pacific, to which ap- But what of the members, themselves? plication of industrial accounting is a nat- Who, abroad, is drawn to seek the help ural process —as it is anywhere that en- N.A.C.A. can offer? It is natural that terprise economy flourishes. many such members are connected with American companies abroad. However. The Reach of N.A.C.A. this is by no means the rule and does not Publications appear to apply to the connections men- tioned below, involving distinctly native When, the other day, a business peri- names. To take a scattering of individual odical was received from Karachi, Pak members, it may be noted that, as to istan with a request for an exchange sub- Europe, a quick "look at the record" scription to the Bulletin (the only type discloses a cost analyst with a German of nonmember circulation entered into), firm in Freudenstadt, a director of an no surprise was felt. It is true, of course, Italian steel works at Genoa, and the that greatest notice is paid N.A.C.A. pub- "head of documentation service" of the lications in English- speaking countries or manufacturer of Renault autos at Billan- in countries (such as India and Japan) court in France. As to the Near East, in which political and cultural ties have a similar quick sample reveals the name sprung up. However, interest in descrip- of an auditor in Cairo, Egypt, and the tions of American industrial accounting chief accountant of a construction com- practice are not limited to these countries. pany in Israel. As to the Far East, the There are French and Japanese transla- rolls show a professor in the commercial tions of the N.A.C.A. standard cost re- department of Waseda University, Japan, search studies. Also, there is, at N.A.C.A. the chief accountant of the heavy equip- Headquarters a shelf of foreign language ment division of a company at Taiwan periodicals (including Italian, Dutch, (Nationalist China), and an accountant Spanish, and Japanese items), largely the for a firm of engineers located at Madras, result of exchange of the N.A.C.A. Bul- India. letin with the originating organizations. These affiliations are doubtless repre- Reprint requests from institutions and in- sentative, rather than typical, for there dustries abroad form another indication. are the equivalent in number of a small N.A.C.A. is an American association, chapter of members in some countries, al- working primarily in national bounds, but though only a handful (or several) in its services are as broadly applicable as other lands. Nevertheless, they carry the the bounds of industry carried out in en- weight of example that positions and enterprise form.

5 6 8 N.A.C.A. BULLETIN STEVENSON TROPHY COMPETITION Standing of Chapters -For Five Months Ending Nov. 1, 1955 PLACE CHAPTER POINTS PLACE CHAPTER POINTS I. SCRANTON 2478 63. GRAND RAPIDS 1486 2. CINCINNATI...... 2270 64. ST. LOUIS ...... 1483 3. PENINSULA SAN...... JOSE 2216 65. DENVER ...... 1478 4. MASS. NORTH SHORE ...... 2198 66. ELMIRA AREA...... 1471 5. NEW ORLEANS ...... 2132 67. BANGOR ...... 1468 6. COLUMBUS ...... 2047 68. YOUNGSTOWN...... 1467 7. NASHVIILLE ...... 2021 69. SOUTH BEND ...... 1462 8. SABINE ...... 2016 70. TRENTON ...... 1457 9. HAWAII 1980 71. COOSA VALLEY...... 1454 FALL RIVER 1449 SALT LAKE CITY 1972 72...... 10...... 1449 1962 72• NEW HAVEN ...... iII. ll- CALUMET ...... PEORIA 1 1924 74...... 75. CUBA 1442

...... •••. . ••••.... 13. AKRON ...... 1898 75, PIEDMONT. T ...... 1442 14. WICHITA...,...... 1885 77• HARRISBURG 1441 15. MID- HUDSON 1880 78. LONG ISLAND ...... 1428 16. NO. WISCONSIN...... 1849 79. CHATTANOOGA 1423 17. SAN DIEGO ...... 1832 80. NEW ARK ...... 1417 18. ATLANTA ...... 1830 81. BALTIMORE...... 1413 19. PHILADELPHIA...... 1824 82. TR1•CITIES ...... 1400 20. EVANSVILLE ...... 1813 83. SPRINGFIELD...... 1395 21. PATERSON 1811 ...... 84. ALBANY , ...... 22. LOS ANGELES 1808 85. RACINE- KENOSHA 1393 ...... 23. NORTH ALABAMA.,...... 1804 86. BRIDGEPORT 1391 ...... 24. PITTSBURGH ...... 1791 ...... 87, SAN FRANCISCO 1377 25. BROOKLYN ...... 1786 88. SYRACUSE ...... 1367 26. KALAMAZOO 1778 89. BUFFALO 1365 ...... 27. PROVIDENCE ...... 1764 ...... 90. NEW YORK 1363 28. ERIE ...... 1757 91. BOSTON ...... 1358 29. DALLAS 1753 92. FOX RIVER VALLEY 1354 ...... 30. DES MOINES...... 1744 ...... 93. MOHAWK VALLEY ...... 1353 31. MILWAUKEE ...... 1711 94. TWIN CITIES ...... 1350 32. ANN ARBOR 1708 95. COLUMBIA 1348 ...... 33. LEHIGH VALLEY...... 1698 ...... 96. MEMPHIS ...... 1340 34. EAST TENNESSEE ...... 1696 96. TULSA ...... 1340

35. KANSAS CITY ...... 1694 98. TOLEDO 1336 36. LANCASTER 1693 ...... 99. OMAHA 1333 ......

37. OAKLAND -EAST BAY 1669 100. WASHINGTON 1328 ......

37. PORTLAND ...... 1669 101. RICHMOND ...... 1326 39. FORT W AYNE 1666 ...... 102. LANSING 1325 40. SHREVEPORT 1658 103. BINGHAMTON...... 1310 41. SEATTLE ...... 1651 104. SANGAMON VALLEY...... 1308 ...... 42. GREENWICH- STAMFORD 1647 ...... 105. LONG BEACH ...... 1305 42. MUSKEGON 1647 106. CLEVELAND 1303 ...... 44• READING ...... 1642 107. SOUTHERN MAINE 1297 ...... 45. MERRIMACK VALLEY 1624 ...... 108. HAMPTON ROADS 1296 46. LAKE SUPERIOR 1616 109. KNOXVILLE ...... 1289 ......

47. WORCESTER ...... 1615 110. DETROIT ...... 1280

48. BATON ROUGE 1612 111.

...... HARTFORD ...... 1278 49. MOBILE ...... 1606 112. JACKSON ...... 1271 50. CEDAR RAPIDS ... 1599 112. ROCKFORD ...... 1271 51. NORWICH ...... 1582 ......

...... 114. CHICAGO .... 1262 52. INIJIANAPOL1S 1573 115. RARITAN VALLEY...... 1235 ......

53. BIRMINGHAM 1568 116. CHATTAHOOCHEE VALLEY 1224 ...... 54. FORT W ORTH 1562 ......

...... 117. WESTERN CAROLINAS 1205 55. LOUISVILLE 1557 IIB. WABASH VALLEY ...... 1163 56. HOUSTON ...... 1554 119. W ATERLOO ...... 1141 57. ROCHESTER 1548 ...... 120. NO. CENTRAL OHIO 1120 58. SAN ANTONIO 1530 121. WIllIAMSPORT ...... 1096 ...... 59. DAYTON 1514 122. NEW HAMPSHIRE...... 1080 ...... 60. W AIERBURY 1502 ......

...... 123. SAGINAW VALLEY ...... 60. YORK 1502 124. CHARLOTTE 937 62. JAMESTOW...... N 1489 125. DELAWARE ...... 348 ...... s(,y DECEMBER, 1955 CHAPTER MEETINGS

AKRON, Ohio December 21 BRIDGEPORT, Conn. December 13 Woman's City Club Barnum Hotel Electronics —RALPH H. EIDEM, Dir. of The Seven Pillars of Management Ex- Electronic Research, Mgmt. Serv. Div., cellence— JACKSON MARTINDELL, Pres., Ernst & Ernst, Akron, Ohio. American Institute of Management, New York, N. Y. ALBANY, N. Y. December 13 Shaker Ridge Country Club Latham, N. Y. BROOKLYN, N. Y. December 14 Planned Control of Paperwork Cost — Clements Club MORTON M. RAYMOND, Mgr., Systems Control of Fixed Assets and Deprecia- Dept., Diebold, Inc., New York, N. Y. tion — CLARENCE CROCHERON, Vice ANN ARBOR, Mich December 15 Pres., American Appraisal Co., New York, N. Y. Elks Club The Problem of Burden Distribution - BUFFALO, N. Y. December 15 Panel Discussion. Buffalo Trap & Field Club 1956 — GEORGE ATLANTA, Ga. December 13 Economic Outlook for Dinkier Plaza Hotel A. NEWBERRY, Pres., Manufacturers and Traders Trust Co., Buffalo, N. Y. Business Outlook and Its Effect on Cost —LLOYD B. R m s TY, Vice Pres., Federal CALUMET December 13 Reserve Bank, Atlanta, Ga. Gar y Country Club Gar y, Ind. BALTIMORE, Md. December 21 Some Figures for Our Future—WILLIAM Park Plaza Hotel H. LOWE, Treas., Inland Steel Co., Chi- Accelerated Depreciation and Cost cago, Ill. Analysis —SIDNEY DAVIDSON, Assoc. CEDAR RAPIDS, Iowa December 13 Prof. of Acctg., Johns Hopkins Univ., Hotel Montrose Baltimore, Md. The Accountant's Part on the Manage- BANGOR, Me. December 19 ment Team— DONALD J. GUTH, Asst. Torratlne Club Treas., Solar Aircraft Co., Des Moines, The Accountant's Place in Labor —DON- Iowa. ALD H. MILLETT, Treas., Eastern Corp., CHARLOTTE, N. C. December 9 Bangor, Maine. Hotel Mecklenburg BATON ROUGE, La. December 13 Job Order Costs —GIP I. KIMBALL, JR., Bob 3 Jake's Steak House Office Mgr., Terrell Machine Co., Char- Provisions of the Internal Revenue Code lotte, N. C. — Income Tax Panel. CHATTANOOGA, Tenn. December 15 BINGHAMTON. N. Y. December 15 Hotel Patten Hotel Arlington Personal Household Finance and Bud- The Industrial Accountant Looks io ge ting —J . HOMER HARDY, C.P.A., 1956— CLINTON W. BENNETT, Partner, Chattanooga, Tenn. Cooley & Marvin, Boston, Mass. BIRMINGHAM, Ala. December 13 CHICAGO, 111. December 1 Furniture Club of America Tutwiler Hotel Are Your Assets Profiablel —D. PHIt.- Getting the More From Your Budget — LIP BEAUDRY, JR., Prof. of Business WALTER R. BUNGE, Mgmt. Consultant, Admin., Birmingham Southern Southern Milwaukee, Wis. College, Birmingham, Ala. CINCINNATI, Ohio December 15 BOSTON, Mass. December 14 Sherafon- Gibson Hotel Hotel Bradford A Review of Current Development in New England Business— LAURENCE F. Office Electronics —RALPH H. EIDEM, WHITTEMORE, Chairman of the Board, Dir. Electronics Research, Ernst & Ernst, The Brown Co., Berlin, N. H. Akron, Ohio.

5 7 0 N.A.C.A. BULLETIN CLEVELAND, Ohio December 15 ELMIRA AREA December 13 Car ter Hotel Mark Twain Hotel Elmira, N. Y. Business O u t l o o k f o r 1956 — RUSSELL Profit Planning and The Controller — H. METZNER, Vice Pres., Central Na- P. H. ELICKER, Assoc., McKinsey & tional Bank, Cleveland, Ohio. Co., New York, N. Y.

COLUMBIA, S. C. December 15 ERIE, Pa. December 12 Jefferson Hotel Moose Club Self Improvement —J. C. KINARD, Vice The Relationship Between Cott Account- Pres. & Sec'y., New South Life Insur- ing and Directed Energy —JEROME BAR - ance Co., Newberry, S. C. NUM, Jerome Barnum Assoc., Harrison, COLUMBUS, Ohio December 12 N. Y. Fort Hayes Hotel EVANSVILLE, Ind. December 15 Executive Development— RALPH C. Smitty's Steak 6 Sea Food House DAVIS, Prof. of Business Organization, Comptroller in a Divisional Organiza- Ohio State Univ., Columbus, Ohio. tion—ARTHUR HUDSON, Asst. Comp- COOSA VALLEY December 15 troller, Chrysler Div., Chrysler Motor Jefferson Davis Hotel Anniston, Ala. Car Co., Detroit, Mich. Reports to Management — RAYMOND J. FALL RIVER, Mass. December 1 LANDERS, Asst. Sec'y., Classe Ribbon Stone Bridge Inn Tiverton, R. I. Works, Anniston, Ala. Stretching the Taxpayer's Dollar —NoR- CUBA December 14 MAN MACDONALD, Exec. Dir., Mass. Hotel Comodoro Federation of Taxpayers Assn., Boston, A nd l i s i s Econ6mico de las Decisiones Mass. del Empresario — RUFo L6PE7 FRTs- FORT WAYNE, Ind. December 13 QUET, Economista, Habana, Cuba. Chamber of Commerce DALLAS, Texas December 16 Building the Individual f o r Executive Melrose Hotel Responsibility —E. F. GORDON, Dir., Taxation of Income: Background and E. F. Gordon & Assoc., Chicago, III. Current Comments—HATCHF11 A. P i c K - ENS, Partner, McCammon, Morris, Pick- FORT WORTH, Texas December 15 ens & Mayhew, Fort Worth, Texas. Wor th Hotel Real Estate Costs: A Cost Accounting DAYTON, Ohio December 20 Fa ct o r —H. H. MORSE, Realtor— Valua- Engineers Club tion Consultant, Fort Worth, Texas. Cost Reduction Through Budgets —J. BROOKS HECKERT, Prof. of Acctg., FOX RIVER VALLEY December 7 Ohio State Univ., Columbus, Ohio. Tally-Ho Restaurant St. Charles, Ill. of DENVER, Colo. December 20 Techniques Cost Reduction —WAR- Farmers Union Building REN G. BAILEY, Partner, A. T. Kearney & Co., Chicago, Ill. Points of Difference Between State and Federal Income Tax Regulations —H. R. GRAND RAPIDS, Mich. December 20 DRAKE, Asst. Dir. of Revenue for Tax- Panflind Hotel ation, State of Colorado. SBA: W h a t It Is— W h a t It Does—FRED DES MOINES, Iowa December 14 W. PRITCHARD, Mgr., Detroit Office, Standard Club Small Business Administration, Detroit, Pattern of American Business —W, H. Mich. BRENTON, Pres., National Bank of Des GREENWICH•STAMFORD December 13 Moines, Des Moines, Iowa. Ho W W a y House Darien, Conn.

DETROIT, Mich. December 15 The New Y o r k Stock Exchange and Burroughs Corp. Principles of Sound Investing —JOHN Preparing f o r Electronic Data Processing F. SULLIVAN, Gen'l. Partner, Merrill —Panel Discussion. Lynch, Pierce, Fenner & Beane, New York, N. Y. EAST TENNESSEE December 13 Ridgefields Country Club Kingsport, Tenn. HAGERSTOWN, Md. December 15 A Department Store's Merchandise Con- Washington Hotel Chombersbarg, Pa. dition Report —H. H. HARVEY, Group A u t o m a t i o n i n the Office— W. R. Controller, Sears, Roebuck & Co., Knox- GRAVES, I. B. M. Corp., New York, ville, Tenn. N. Y.

DECEMBER, 1955 5 ' 1 HAMPTON ROADS December 15 KNOXVILLE, Tenn. December 13 Suburban Country Club Portsmouth, Va. Regas Restaurant Wh y Don't We Budget Our Business Cott Standards and Cost Controls as —A. C. BARTLE•TT, Vice Pres., Bank of Applied by Ford —W. A. BEERS, Asst. Virginia, Portsmouth, Va. Controller, Ford Motor Co., Detroit, Mich, HARRISBURG, Pa. December 12 Penn Harris Hotel LAKE SUPERIOR December 15 Duluth Athletic Club Duluth, Minn. Personal Income Taxes —LEE E. BOYER, Lee E. Boyer Co., Harrisburg, Pa. Budgeting —JOHN L. MARLEY, Princi- pal, John L. Marley Co., Chicago, I11. HARTFORD, Conn. December 13 LANCASTER, Pa. December 16 Indiana Hill Country Club Newington, Conn. Hotel Brunswick Clerical Work Measurement and Wage Incentives —DAVID KINGHORN, JR., Rath Profile of an Accountant— WILLIS W. & Strong, Inc., Boston, Mass. SHENK, Sec'y. & Controller, Lancaster Newspapers, Inc., Lancaster, Pa. HAWAII December 9 LANSING, Mich. December 15 Tourist Boom in the Pacific— STEWAR'r Falcon Hall Jackson, Mich. FERN, Pres. & Mgr., Stewart Fern Or- Measurement of Management — JACKSON ganization, Honolulu, T. H. MARTINDELL, Pres., American Institute of Management, New York, N. Y. HOUSTON, Texas December 12 Weldon's Cafeteria LEHIGH VALLEY December 9 Inheritance and Wills —C. D. SIMMONS, Hotel Easton Easton, Pa. Vice Pres. & Sr. Trust Officer, First Cost Reduction Through Budgetary National Bank, Houston, Texas. Control —FRANK Z. OLES, Asst. Con- troller, Davison Chemical Co., Balti- INDIANAPOLIS, Ind. December 14 more, Md. Severin Hotel What 1 Expect From My Accounting LONG ISLAND December 13 Department —Panel of Company Presi- Garden City Hotel Garden City, N. Y. dents of Indianapolis Industries. Cost Reduction Through Budgetary Con- trol—STANLEY Z. BRONNER, Asst. Vice JACKSON, Miss. December 15 Pres., Bridgeport Brass Co., Bridgeport, Walthall Hotel Conn. b r o w Personnel Policy and Practice Af- fect Operating Covs —C. B. RUTLEDGE, LOS ANGELES, Calif. December 13 Mississippi Products, Inc., Jackson, Elks Club Miss. The Equity Capital Story —RICHARD M. LINK, Vice Pres., Blyth & Co., Los An- JAMESTOWN, N. Y. December 13 geles, Calif. Hotel Jamestown LOUISVILLE, Ky. December 20 Educational D011ars— CARLYLE C. RrNG, Kentucky Hotel Superintendent of Schools, Jamestown, N. Y. Controlling Your Unemployment Com- pensation COSIS—JOE RAINS, Attorney, KALAMAZOO, Mich. December 13 Louisville, Ky. Columbia Hotel MASSACHUSETTS NORTH SHORE December 20 Controllership in a Decentralized Com- Hotel Hawthorne Salem, Mass. pany — KENNETH M. HUDDLESON, Recent Tax Developments— HERMAN Comptroller, Plymouth Div., Chrysler STUETZER, JR., Tax Mgr., Lybrand, Ross Corp., Detroit, Mich. Bros. & Montgomery, Boston, Mass.

KANSAS CITY, Mo. December 19 MEMPHIS, Tenn. December 21 Hotel President Gayoso Hotel Expense Control Through Internal Audit- Changes Made in the Tax Law by the ing—JOHN B. BACHOFER, Exec, Vice 1934 Code Which Affect the Individual Pres. & Treas., Donnelly Garment Co., Taxpayer —W. B. HERBERT, Tax Con- Kansas City, Mo. sultant, Memphis, Tenn.

572 N.A.C.A. BULLETIN MERRIMACK VALLEY December 8 NEW YORK, N. Y. December 12 Andover Country Club Andover, Mass. Delmonico Hotel Modern Methods of Data Processing- - Product Costs for Year End Inventories HOWARD H. AIKEN, Dir., Computation — STERLING K. ATKINSON, Treas. & Lab., Harvard Univ., Boston, Mass. Vice Provost, Temple Univ., Philadel- phia, Pa. MID-HUDSON December 12 Anchor Inn Arlington, N. Y . NEWARK, N. J. December 8 Basic Requirements in an Effective Cost Robert Treat Hotel System—JOHN J. BLACK, Controller, Business Outlook for 1956— THOMAS Plant # 2 , I.B.M. Corp., Poughkeepsie, O. WAAGE, Mgr., Public Information N. Y. Dept., Federal Reserve Bank of New York, New York, N. Y. MILWAUKEE, Wis. December 13 Elks Club NORTH ALABAMA December 12 Let's Have The Story, Quick— HOWARD Huntsville Country Club Huntsville, Ala. C. GREER, Treas., Chemstrand Corp., The Controller's Job in the Marshall Decatur, Ala. Plant —E. A. SUNSTROM, J. C. Bradford MOBILE, Ala. December 21 & Co., Knoxville, Tenn. Admiral Semmes Hotel NORTH CENTRAL OHIO December 15 Fixed Asset Accounting —JOHN Hos- Mansfield Leland Hotel Mansfield, Ohio SACK, Asst. Vice Pres., American Ap- Insurance Accounting —J. J. BUTLER, praisal Co., Chicago, Ill. Comptroller, Lumbermen's Mutual In- MOHAWK VALLEY December 19 surance Co., Mansfield, Ohio Club Monarch Yorkville, N. Y. NORTHERN WISCONSIN December 13 The Cost Accountant's Role in Labor - American Legion Club Oshkosh, Wis. Management Relations —ANTHONY L. The Industrial Engineer and The Cost GIGLIO, Bus. Mgr., International Assn. Arcountant —HARRY CLAYTON, Exec. of Machinists, A. F. of L., Utica, N. Y. Vice Pres., John A. Patton management MUSKEGON, Mich. December 12 Engineers, Inc., Chicago, III. Shurfine Room NORWICH, Conn. December 15 The St. Lawrence Seaway and Power Crocker House Hotel New London, Conn. Project C. BUIKEMA, Member, —JOHN Cost Culling Controls Through Rec- President's Advisory Bd., St. Lawrence ords Management— ROBERT A. SNIFF, Seaway Development Corp. Pres., National Records Management NASHVILLE, Tenn. December 13 Council, New York, N. Y. Andrew Jackson Hotel OAKLAND -EAST BAY December 15 Electronic Accounting — ARTHUR B. Spenger's Fish Grotto Berkeley, Calif. TORN, JR., Partner, Price Waterhouse & Co., New York, N . Y. Methods of Taking and Controlling In- ventory —Panel Discussion. NEW HAMPSHIRE December 13 Calumet Club Manchester, N. H. OMAHA, Neb. December 13 How Much Inventory and At What Fontenelle Hotel Value — MERWIN P. CASS, Partner, Influence of the Federal Reserve System Charles F. Rittenhouse & Co., New on Economic Conditions —D. R. CAW - York, N . Y. THORNE, Federal Reserve Bank, Kansas City, Mo. NEW HAVEN, Conn. December 27 Seven Gables Towne House PATERSON. N. J. December 14 Human Relations in Business and Their The Tree Restaurant Effect on COSts— WILLIAM W. HARVEY, A Management Evaluation of Modern Partner, Wyland, Harvey & Co., Inc., Accounting Methods —I. WAYNE KEL- New York, New York. LER, Controller, Armstrong Cork Co.. Lancaster, Pa. NEW ORLEANS, La. December 8 Lenfant's Boulevard Room PENINSULA -SAN JOSE December 13 A General Review of Recent Income Tax Management of Small Business —GER- Developments —NORMAN A. KERTH, HARD FISHER, Pres., Fisher Research Haskins & Sells, New Orleans, La. Laboratories, Inc., Palo Alto, Calif.

DECEMBER, 1955 57 3 PEORIA, 111. December 21 ROCKFORD. III. December 13 Hotel Pere Mar quetfe Hotel LaFoyette Budgets and Budgeting— GOODWIN DE Business Prospects for 1956—DWIGHT RAISMES, Industrial Engineer, Cleve- MICHENER, Economist, Chase National land, Ohio. Bank, New York, N. Y.

PHILADELPHIA, Pa. December 15 SABINE December 12 Kugler's Chestnut St. Restaurant Little Mexico Restaurant Orange, Texas Federal Tax Planning —J. S. SEIDMAN, Modern Accounting Methods for Gov- Partner, Seidman & Seidman, New York, ernmental Units —LEo HEILBERT, Asst. N. Y. State Auditor, State of Louisiana, Baton Rouge, La. PIEDMONT December 16 Greensboro SAGINAW VALLEY December 21 Taxes Other Than Income — Panel Dis- Zehnder's Hotel Frankenmuth, Mich. cussion. Future Business Conditions — WILLIAM H. DOERFNER, Gen'l Mgr., Saginaw PITTSBURGH, Pa. December 7 Steering Gear Div., General Motors Hotel William Penn Corp., Saginaw, Mich. Human Relations in Industry —OTIS C. ST. LOUIS, Mo. December 6 MCCREERY, Dir. of Personnel Relations, Sheraton Hotel Aluminum Co. of America, Pittsburgh, Pa. Tax Planning Consideration —J. P. GOE- DERT, Partner, Alexander Grant & Co., PORTLAND, Or e. December 20 Chicago, Ill. Heathman Hotel SALT -LAKE CITY, Utah December 19 Are Accountants Promoting Themselves? Andy's — RICHARD C. SCHMALLE, Superv. df Office Methods, Consolidated Freight - The Role of the Accountant ie the ways, Inc., Portland, Ore. F. B. I.— ARTHUR CORNELIUS, Special Agent Bureau of Investigation, Salt Lake RACINE•KENOSHA December 12 City, Utah. Elks Club Kenosha, Wis. SAN ANTONIO, Texas December 20 Year -End Tax Planning —Panel Discus- Gunter Hotel sion. Accounting and Record Keeping for So- cial Security —JOHN D. PALMER, Dis- RARITAN VALLEY December 7 trict Mgr., Social Security Admin., San Roger Smith Hotel Antonio, Texas. Product Costs for Pricing and Profit Planning —ROGER WELLINGTON, SCo- SAN DIEGO, Calif. December 14 vell, Wellington & Co., New York, Town & Country Club N. Y. The Impact of Mechanized Accounting on the Industrial Accountant —LEWIs J. READING, Pa. December 16 HASTINGS, Asst. Cont., Consolidated Abraham Lincoln Hotel Western Steel Div., U. S. Steel Corp., Some Recent Accomplishments in the Los Angeles, Calif. Use of Electronic Data Processing Ma- chines—LOUIS ROBINSON, Dir., Applied SAN FRANCISCO, Calif. December 2 b 3 Science, I. B. M. Corp., Philadelphia, Pa. Fairmont Hotel Mark Hopkins Hotel Western Regional Cost Conference. RICHMOND, Va. December 15 SANGAMON VALLEY December 13 Hotel John Marshall Elks Club Springfield, III. The Economic Record for 1955 — THOMAS I. STORRS, Asst. Vice Pres.. Organization for Effective Cost Control Federal Reserve Bank, Richmond, Va. — JOSEPH B. LANTERMAN, Vice Pres., American Steel Foundries, Chicago, Ill. ROCHESTER, N. Y. December 21 SCRANTON, Pa. December 19 Seneca Hotel Scranton Club Paper Tape Automation — CHARLES E. Controlling Maintenance COS ; —STE- LovE, Exec. Vice Pres., Commercial PHEN C. HAMLIN, Mgmt. Services Div., Controls Corp., Rochester, N. Y. Ernst & Ernst, New York, N. Y.

5 7,4 N.A.C.A. BULLETIN SEATTLE, Wash. December 7 WABASH VALLEY December 20 Sorrento Hotel Deming Hotel Terre Haute. Ind, Systematizing Your Accounting —Panel Examination and Protest Procedures of Discussion the Internal Revenue Service`JESS W. BOWERS, SHREVEPORT. La. December 1S David Bartram & Co., Terre Caddo Hotel Haute, Ind. Joint Efforts of Engineering and Ac- WASHINGTON, D. C. December 21 counting in Industry —Panel Discussion The Occidental Human Relations an Economic Religion SOUTH BEND, Ind. December 13 Vice Knights of Columbus Hall — WILLARD E. BROWN, Asst. The Guaranteed Annual Wage in Labor Pres., Judd & Detweiier, Inc., Washing:, Negotiations —M. E. MURRAY, Seyfarth, ton, D. C. Shaw & Fairweather, Chicago, Ill. WATERBURY, Conn. December 13 Elton Hotel SOUTHERN MAINE December 15 Prospects for Atomic Energy in New Elm Hotel Auburn, Maine England —SHERMAN P. KNAPP, Pres., The Relationship Between the Industrial Accountant and the C.P.A. —ALBERT W. Connecticut Light & Power Co., Berlin, TOLMAN, JR., Partner, Peat, Marwick, Conn. Mitchell & Co., Boston, Mass. WATERLOO, Iowa December 14 The Convair Room SPRINGFIELD, Mass. December 21 Air Transportation and l a t e r l o o - - Hotel Shelton GARDNER, Accounting and Inventory Control for G. M. Public Relations, Braniff Airways, Waterloo, Iowa. the Small Business Ma n — THoMAs L. MORRISON, Vice Pres., Bentley School WESTERN CAROLINAS December 16 of Accounting & Finance, Boston, Mass. Elks Club Greenville, S. C. Treads —AVERY FONDA, SYRACUSE, N. Y. December 16 Market Vice Citizens Club Pres., First National Bank, Asheville, A Company Approach to Decentralized N. C. Accounting— MELVIN C. HOLM, Vice WICHITA, Kan. December 13 Pres. & Comptroller, Carrier Corp., Broadview Hotel Syracuse, N. Y. Income Tax Panel Discussion. TOLEDO, Ohio December 13 WILLIAMSPORT. Pa. December 12 Commodore Perry Hotel Republican Club Year End Tax Adjustment - J, HENRY Streamlining Accounting Procedures for LANDMAN, Prof, of Tax Law, Graduate Automation— HERMAN C. HEISER, Ly- Div., New York Law School, New brand, Ross Bros. & Montgomery, Phila- York, N. Y. delphia, Pa. TRENTON, N. J. December 13 WORCESTER, Mass. December 14 Hotel Sfacy -Trent Putnam 3 Thurston's Empire Room Pattern for SuccetJ —JAMES Q. DU 33 Years of Industrial Accounting —J. PONT, E. I. Du Pont de Nemours Co., BROOKS HECKERT, Prof., Ohio State Wilmington, Del. Univ., Columbus, Ohio. TRI- CITIES December 20 YORK, Pa. December 14 Blockhawk Hotel Davenport, Iowa Hotel Yorktowne Cost Reduction in Form Control — Concurrent Group Discussions: CLAYTON B. PETERSON, Account Exec., Problems in Manufacturing Burden Wagner's Printers, Davenport, Iowa. Applications. TULSA, Okla. December 13 Paper Wo rk Simplification for a Hotel Tulsa Small Business. Tax Highlights of 1955— DONALD P. "Below the Line" Cost Reduction. MOYERS, Martin, Logan, Finney & Moy- YOUNGSTOWN, Ohio December 14 ers, Tulsa, Okla. Tippecanoe Country Club TWIN CITIES December 13 An Outline of Insurance for Account - Radisson Hotel Minneapolis, Minn. ants — Small Scale Budgeting for Large Scale WARREN S. McKAY, United Engi- Results —A Case Study —JoHN L. MAR - neering & Foundry Co., Pittsburgh, LEY, John L. Marley & Co., Chicago, Ill. Pa.

DECEMBER, 1 9 5 5 5 7 5 You Can Keep Your Bulletins As You Would Like To .. .

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