Officers and Committees, Trial Board, State Boards of Accountancy, State Societies of Cpas,Minutes of Annual Meeting, 1952-53 American Institute of Accountants

University of Mississippi eGrove American Institute of Certified Public Accountants AICPA Committees (AICPA) Historical Collection

1-1-1953 Officers and committees, trial board, state boards of accountancy, state societies of CPAs,minutes of annual meeting, 1952-53 American Institute of Accountants

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Recommended Citation American Institute of Accountants, "Officers and committees, trial board, state boards of accountancy, state societies of CPAs,minutes of annual meeting, 1952-53" (1953). AICPA Committees. 175. https://egrove.olemiss.edu/aicpa_comm/175

This Book is brought to you for free and open access by the American Institute of Certified Public Accountants (AICPA) Historical Collection at eGrove. It has been accepted for inclusion in AICPA Committees by an authorized administrator of eGrove. For more information, please contact [email protected]. AMERICAN

INSTITUTE OF

ACCOUNTANTS

Officers & Committees

Trial Board

State Boards of Accountancy

State Societies of CPAs

Minutes of Annual Meeting

9 Accountants’ Liability & Liability Insurance 9 Accounting Personnel 9 Accounting Procedure 10 Admissions Contents 11 Arbitration 11 Auditing Procedure 11 Awards 12 Bankruptcy & Reorganization 13 Budget & Finance 13 By-Laws AMERICAN INSTITUTE OF ACCOUNTANTS 13 CPA Handbook 13 College & University Accounting Officers 5 13 Cooperation with Bankers 14 Cooperation with Bureau Council 5 of Economic Research 14 Coordination of Activities of

Board of Examiners 12 State & National Organizations 14 Credentials

Trial Board 30 14 Executive 15 Federal Taxation 15 Insurance Trust 30 Foreign Affairs 16 Governmental Accounting 16 History Foundation 31 16 Interstate Practice 10 Local Practitioners Benevolent Fund 31 (Advisory Committee) 16 Meetings Staff Organization 31 17 Membership 25 National Defense State Boards of Accountancy 32 26 Natural Business Year 27 Nominations Association of CPA Examiners 39 27 Professional Ethics 27 Public Relations State Societies of CPAs 40 28 Publication 28 Relations with Bar Minutes of AIA Annual Meeting 43 28 Relations with SEC 28 State Legislation 29 Technical Sessions 29 Terminology 29 Wages & Hours Members of Council OFFICERS President—J. A. Phillips . . 1809 Second National Bank Bldg., Houston 2, Texas Vice President—Thornton G. Douglas . . 530 West 6th Street, Los Angeles 14, Calif. Vice President—Samuel W. Eskew. .Kentucky Home Life Bldg., Louisville 2, Ky. Vice President—Coleburke Lyons...... 2200 Book Tower, Detroit 26, Mich. Vice President—Mark E. Richardson. .916 Investment Bldg., Washington 5, D.C. Treasurer—Harold R. Caffyn...... 43 Broad Street, New York 4, N. Y. Executive Director—John L. Carey.. . .270 Madison Avenue, New York 16, N. Y.

ELECTED MEMBERS For three years Frank L. Arnold...... 1127 Third National Bldg., Dayton 2, Ohio Maurice Austin...... 60 East 42nd Street, New York 17, N. Y. Harry P. Baumann...... 208 South LaSalle Street, Chicago 4, Ill. Curtis H. Cadenhead...... 114 Magnolia Bldg., Dallas, Texas E. Ralph Cotham...... 804 Pyramid Bldg., Little Rock, Ark. Clarence B. Cox...... 1710 Dime Bank Bldg., Detroit, Mich. Arthur B. Foye...... 67 Broad Street, New York 4, N. Y. Ira N. Frisbee...... 303 Bank of America Bldg., Beverly Hills, Calif. James E. Hammond...... 111 Sutter Street, San Francisco, Calif. George A. Hewitt...... 2101 Packard Bldg., Philadelphia 2, Pa. J. H. Imig...... 915 First National Bank Bldg., Omaha, Nebr. John J. Lang...... 509 Olive Street, St. Louis 1, Mo. Edward J. McDevitt...... 201 Devonshire Street, Boston 10, Mass. Allen M. McRae...... 1002 Montgomery Bldg., Spartanburg, S. C. Leslie Mills...... 56 Pine Street, New York 5, N. Y. Clifton H. Morris...... 1205 Fair Bldg., Fort Worth, Texas Edwin W. Norberg. . . .822 First National-Soo Line Bldg., Minneapolis 2, Minn. Maurice W. Powers...... 405 Lincoln Bank Bldg., Syracuse 2, N. Y. Allen Redeker...... 822 University Bldg., Denver, Colo. Louis L. Siegel...... 24 Commerce Street, Newark 2, N. J. J. Bryan Stephenson...... 816 First National Bank Bldg., Albuquerque, N. M. Hugh C. Tennent...... P. O. Box 3556, Honolulu, Hawaii Roscoe L. Thomas...... 205 O’Rourke Estate Bldg., Butte, Mont. Robert E. Witschey...... 311 Knight Bldg., Charleston, W. Va. For two years Harry W. Babineau...... 880 Main Street, Bridgeport 3, Conn. Horace G. Barden...... 728 Illinois Bldg., Indianapolis 4, Ind. Lloyd R. Bock...... 708 Hubbell Bldg., Des Moines 9, Iowa William J. Carter...... 800 Peachtree Bldg., Atlanta 3, Ga. 6 American Institute of Accountants

Edmund A. Clarke...... 1616 Williamson Bldg., Cleveland 14, Ohio R. Carl Counts...... P. O. Box 629, Kingsport, Tenn. Russell C. Harrington...... 1702 Industrial Trust Bldg., Providence 3, R. I. Clifford V. Heimbucher...... 220 Bush Street, San Francisco 4, Calif. Alvin R. Jennings...... 90 Broad Street, New York 4, N. Y. Donald R. Jennings...... 33 North LaSalle Street, Chicago 2, Ill. Ralph S. Johns...... 141 West Jackson Blvd., Chicago 4, Ill. Herbert L. Langrall...... 1010 American Bldg., Baltimore 2, Md. Saul Levy...... 1 Wall Street, New York 5, N. Y. Homer L. Luther...... 1446 Esperson Bldg., Houston 2, Texas John J. McIsaac...... 60 State Street, Boston 9, Mass. Robert Miller...... 1712 Heyburn Bldg., Louisville 2, Ky. Maurice E. Peloubet...... 25 Broadway, New York 4, N. Y. Sam W. Sinderson...... 475 New Brotherhood Block, Kansas City, Kansas Allen E. Strand...... 404 Southeastern Bldg., Greensboro, N. C. Marshall M. Thomas...... 744 Broad Street, Newark 2, N. J. Edward P. Tremper...... 1411 Fourth Avenue Bldg., Seattle 1, Wash. J. Robert White...... 530 West Sixth Street, Los Angeles 14, Calif. William R. Winn . . . 306 Williamsport National Bank Bldg., Williamsport 8, Pa. Fred H. Woodward...... 520 Luhrs Bldg., Phoenix, Ariz. For one year Paul J. Adam...... 21 West Tenth Street, Kansas City 6, Mo. J. D. P. Arnold...... 1015 First National Bldg., Birmingham 3, Ala. Harold J. Beairsto...... 50 East 42nd Street, New York 17, N. Y. Harold L. Child...... 609 First Security Bank Bldg., Salt Lake City, Utah M. C. Conick...... First National Bank Bldg., Pittsburgh 22, Pa. Alexander Eulenberg...... 110 South Dearborn Street, Chicago 3, Ill. Frank S. Glendening...... 1816 Lincoln-Liberty Bldg., Philadelphia 7, Pa. James C. Goldrainer...... 471 Pittock Block, Portland, Ore. Benjamin Harrow...... 19 Rector Street, New York 6, N. Y. Anson Herrick...... 465 California Street, San Francisco 4, Calif. Wallace M. Jensen...... 1380 National Bank Bldg., Detroit 26, Mich. Charles W. Jones...... 120 South LaSalle Street, Chicago 3, Ill. E. Woody Kuhlman...... 231 West Wisconsin Avenue, Milwaukee 3, Wis. Robert L. MacReynolds...... 403 West Eighth Street, Los Angeles 14, Calif. Henry S. Owens . . Room 323, 1028 Connecticut Avenue, N.W., Washington 6, D. C. John A. Peyroux, Jr...... 2215 American Bank Bldg., New Orleans, La. Abraham H. Puder...... 60 Park Place, Newark 2, N. J. John W. Queenan...... 67 Broad Street, New York 4, N. Y. Dick D. Quin...... 506 Barnett-Madden Bldg., Jackson 103, Miss. Oliver W. Seifert...... 1400 First National Bank Bldg., Cincinnati 2, Ohio Paul R. Smoak...... 505 Graham Bldg., Jacksonville 2, Fla. A. Frank Stewart...... 1102 State-Planters Bank Bldg., Richmond 10, Va. Virgil S. Tilly...... 410 National Bank of Tulsa Bldg., Tulsa 3, Okla. Frank L. Wilcox...... 815 Liberty Bldg., Waco, Texas Council 7

MEMBERS AT LARGE For three years Marquis G. Eaton...... Alamo National Bldg., San Antonio 5, Texas George E. Perrin...... 203 Southeastern Bldg., Greensboro, N. C. Paul K. Webster...... 155 Montgomery Street, San Francisco 4, Calif. For two years Roy C. Comer...... Dexter Horton Bldg., Seattle 4, Wash. J. S. Seidman...... 80 Broad Street, New York 4, N. Y. John H. Zebley, Jr...... 1622 Chestnut Street, Philadelphia 3, Pa. For one year Clinton W. Bennett...... 140 Federal Street, Boston 10, Mass. William M. Black...... 70 Pine Street, New York 5, N. Y. Maurice H. Stans...... 1 North LaSalle Street, Chicago 2, Ill.

EX OFFICIO Past Presidents of the American Institute of Accountants T. Coleman Andrews...... 915 American Bldg., Richmond 6, Va. George D. Bailey ...... 1380 National Bank Bldg., Detroit 26, Mich- Samuel J. Broad...... 70 Pine Street, New York 5, N. Y. Percival F. Brundage...... 56 Pine Street, New York 5, N. Y. Clem W. Collins...... 333 First National Bank Bldg., Denver 2, Colo. Charles B. Couchman...... 395 Riverside Drive, New York 25, N. Y. John F. Forbes...... 510 Crocker Bldg., San Francisco 4, Calif. J. William Hope...... 886 Main Street, Bridgeport 3, Conn- Norman Loyall McLaren .... 155 Montgomery Street, San Francisco 4, Calif. Robert H. Montgomery...... 90 Broad Street, New York 4, N. Y. John B. Niven...... 233 Broadway, New York 7, N. Y. George S. Olive...... 528 Chamber of Commerce Bldg., Indianapolis 4, Ind. J. Harold Stewart...... 50 State Street, Boston 9, Mass. C. Oliver Wellington...... 111 Broadway, New York 6, N. Y. Edward B. Wilcox...... 120 South LaSalle Street, Chicago 3, Ill. T. Dwight Williams...... 2220 First National Bldg., Oklahoma City 2, Okla.

Past Presidents of the American Society of Certified Public Accountants George P. Ellis...... 7 South Dearborn Street, Chicago 3, Ill. Harry M. Jay...... 1301 Columbian Mutual Tower, Memphis, Tenn. Harry E. Lunsford...... 21 West Tenth Street, Kansas City, Mo. Frank Wilbur Main...... First National Bank Bldg., Pittsburgh 22, Pa. William D. Morrison . .840 San Diego Trust & Savings Bldg., San Diego 1, Calif. Herman C. J. Peisch...... 550 Baker Building, Minneapolis, Minn. Arthur C. Upleger...... 219 North Eighth Street, Waco, Texas

Past Presidents of the American Association of Public Accountants F. W. Lafrentz...... 100 Broadway, New York 5, N. Y. Robert H. Montgomery...... 90 Broad Street, New York 4, N. Y. 8 American Institute of Accountants

Presidents of State Societies of Certified Public Accountants (at November 17, 1952)

Raymond D. Ashman...... 1356 Union Commerce Bldg., Cleveland 14, Ohio William Boynton...... 75 Federal Street, Boston 10, Mass. Robert Caldwell, Jr...... 1315 Walnut Street, Philadelphia 7, Pa. James W. Cocke...... 1004 Deposit Guaranty Bank Bldg., Jackson, Miss. Herman O. Corder...... 517 Metropolitan Bank Bldg., Washington, D. C. Gayle L. Dalferes...... 1021 Hibernia Bank Bldg., New Orleans 12, La. Walter A. Daniels...... College of Commerce & Industry, University of Wyoming, Laramie, Wyo. Jewell A. Davis...... Suite 310, Seminole Bldg., Jacksonville 2, Fla. William S. Deeming...... 208 South LaSalle Street, Room 1006, Chicago 4, Ill. Seth B. Gifford...... P. O. Box 495, Providence, R. I. Alphonse M. Hart...... Suite 1014, Commerce Court Bldg., Newark 2, N. J. William D. Hayes...... P. O. Box 864, Bangor, Maine Donald J. Henderson...... 71 West Pearl St., Nashua, N. H. Harlan H. Holben...... 904 Security Bldg., Denver, Colo. A. D. Howell...... 1701 Apco Tower, Oklahoma City, Okla. Wm. H. Hudson...... 1008 Luhrs Tower, Phoenix, Ariz. J. Wesley Huss...... 1212 Heyburn Bldg., Louisville 2, Ky. Orvel M. Johnson...... 189 Sheridan Road, North Little Rock, Ark. J. R. Jordan...... 520 Esperson Bldg., Houston 2, Texas J. T. Koelling...... 1420 Union National Bank Bldg., Wichita, Kans. Harry E. Leonard...... 43 East Main Street, Waterbury 22, Conn. Paul W. Lukens...... 2163 duPont Bldg., Wilmington, Del. Evert D. Lybbert...... 501 Phillips Petroleum Bldg., Salt Lake City, Utah David G. Malcolm...... P. O. Box 703, Henderson, Nev. Baldwin E. Martz...... 405 First Avenue Bldg., Minot, N. D. Ray G. McKennan...... 2515 Foshay Tower, Minneapolis 2, Minn. Hugh M. Mercer...... 1410 Candler Bldg., Atlanta, Ga. John G. Moody...... 203 College Street, Burlington, Vt. A. William Morris...... 1429 Old National Bank Bldg., Spokane, Wash. George W. Myers...... 1825 Lincoln Tower, Fort Wayne 2, Ind. Fred W. Nichols...... 1214-21 Brown-Marx Bldg., Birmingham, Ala. Louis I. Nussbaum...... 708 Hubbell Bldg., Des Moines, Iowa Wm. A. Olson...... 203 Idaho Bldg., Boise, Idaho Fred G. Page...... 407 American Trust Bldg., Nashville 3, Tenn. L. A. B. Parker...... 2944 Santa Cruz Drive, S. E., Albuquerque, N. M. Charles F. Pattison...... 324 East Wisconsin Avenue, Milwaukee 2, Wis. L. H. Penney...... 1668 Russ Bldg., San Francisco 4, Calif. J. Roland Peterson...... Box 391, Hamilton, Mont. S. S. Schouweiler...... Box 967, Rapid City, S. D. Willard E. Slater...... 2000 Buhl Bldg., Detroit 26, Mich. H. Talcott Stith, Jr...... P. O. Box 363, Columbia, S. C. John B. Taylor...... 1410 American Bank Bldg., Portland 5, Ore. List of Committee Members 9

Charles H. Towns...... 80 Broad Street, New York 4, N. Y. John H. L. Trautfelter...... 1113 Munsey Bldg., Baltimore 2, Md. Edwin H. Wagner, Jr...... 1218 Arcade Bldg., St. Louis 1, Mo. Benjamin A. Wilson...... Patten Bldg., Winston-Salem, N. C. John Wiseman...... 1219 Chapline Street, Wheeling, W. Va. Walter C. Witthoff...... 202 First National Bank Bldg., Freemont, Neb. H. W. Woodhouse...... 641 Wainwright Bldg., Norfolk, Va. Committees 1952-53 ACCOUNTANTS’ LIABILITY AND LIABILITY INSURANCE John W. Queenan, Chairman,...... 67 Broad Street, New York 4, N. Y. R. D. Ashman...... 1356 Union Commerce Building, Cleveland 14, Ohio Frank S. Glendening...... 1816 Lincoln-Liberty Bldg., Philadelphia 7, Pa. Norman J. Lenhart...... 90 Broad Street, New York 4, N. Y. Saul Levy...... 1 Wall Street, New York 5, N. Y. Ernest O. Lothrop...... 56 Pine Street, New York 5, N. Y. Harvard L. Mann...... 60 State Street, Boston 9, Mass. W. J. Oliphant...... 120 South LaSalle Street, Chicago 3, Ill. Francis Small...... 1500 Walnut Street, Philadelphia 2, Pa. ACCOUNTING PERSONNEL Samuel J. Broad, Chairman...... 70 Pine Street, New York 5, N. Y. Raymond G. Ankers...... 90 Broad Street, New York 4, N. Y. George D. Bailey...... 1380 National Bank Bldg., Detroit 26, Mich. Elmer G. Beamer...... 1620 Williamson Building, Cleveland 14, Ohio Thomas M. Dickerson...... 167 Public Square, Cleveland, Ohio Samuel J. Duboff...... 125 Park Avenue, New York 17, N. Y. Thomas D. Flynn...... 165 Broadway, New York 5, N. Y. Paul Grady...... 56 Pine Street, New York 5, N. Y. Charles B. Hellerson...... 43 Broad Street, New York 4, N. Y. Arnold W. Johnson. College of Bus. Adm., Syracuse University, Syracuse, N. Y. Louis M. Kessler...... 1 North LaSalle Street, Chicago 2, Ill. Mark D. Littler...... Penobscot Building, Detroit 26, Mich. Robert M. Musselman. .. P.O. Box 1211 University Station, Charlottesville, Va. Leo A. Schmidt . . School of Bus. Adm., University of Michigan, Ann Arbor, Mich. Hiram T. Scovill. . . . College of Commerce & Bus. Adm., U. of Ill., Urbana, Ill. Prior Sinclair...... 90 Broad Street, New York 4, N. Y. ACCOUNTING PROCEDURE Paul K. Knight, Chairman . . . .67 Broad Street, New York 4, N. Y. F. B. Andrews...... 1 North LaSalle Street, Chicago 2, Ill. Frank S. Calkins...... 311 Mutual Bldg., Richmond, Va. H. A. Finney...... 2440 Lakeview Avenue, Chicago 14, Ill. Roy F. Godfrey...... 1120 First National Bldg., Tulsa 3, Okla. Thomas G. Higgins...... 165 Broadway, New York 6, N. Y. 10 American Institute of Accountants

John A. Lindquist...... 1356 Union Commerce Bldg., Cleveland 14, Ohio Perry Mason . . School of Bus. Adm., University of California, Berkeley 4, Calif. Edward F. McCormack...... 43 Broad Street, New York 4, N. Y. Maurice E. Peloubet ...... 25 Broadway, New York 4, N. Y. John Peoples...... 70 Pine Street, New York 5, N. Y. John W. Queenan...... 67 Broad Street, New York 4, N. Y. Walter L. Schaffer...... 90 Broad Street, New York 4, N. Y. C. Aubrey Smith . . The University of Texas, University Station, Austin 12, Texas C. Oliver Wellington...... 111 Broadway, New York 6, N. Y. William W. Werntz...... 233 Broadway, New York 7, N. Y. Edward B. Wilcox...... 120 South LaSalle Street, Chicago 3, Ill. Raymond D. Willard...... 50 Congress Street, Boston, Mass. Robert W. Williams...... 123 South Broad Street, Philadelphia 9, Pa. Karl R. Zimmermann...... 55 Liberty Street, New York 5, N. Y.

ADMISSIONS For three years George E. Perrin...... 203 Southeastern Building, Greensboro, N. C. For two years Thornton G. Douglas ...... 530 West 6th Street, Los Angeles 14, Calif. E. Ober Pride...... 40 Central Street, Boston 9, Mass. For one year J. Arthur Marvin, Chairman ...... 100 Broadway, New York 5, N. Y. Percy M. Smith, Jr...... 512 Southern States Bldg., Richmond, Va.

ADVISORY COMMITTEE OF LOCAL PRACTITIONERS Homer L. Luther, Chairman . . 1446 Mellie Esperson Bldg., Houston 2, Texas Jesse H. Baldwin...... 44 West Gay Street, Columbus 15, Ohio Edward W. Brady...... 304 First National Bank Bldg., Grand Forks, N. D. Winston Brooke...... 802 Commercial National Bldg., Anniston, Ala. James E. Burgess...... 312 East Wisconsin Avenue, Milwaukee 2, Wisc. Orin Contryman...... P. O. Box 65, Grand Island, Nebr. S. Preston Douglas...... 206 McLean Building, Lumberton, N. C. John H. Eldridge...... 235 Montgomery Street, San Francisco 4, Calif. Dixon Fagerberg, Jr...... 225 Luhrs Building, Phoenix, Ariz. Edgar S. Gage, Jr...... 725 Brick & Tile Bldg., Mason City, Iowa Benjamin Goldenberg...... 12 South Twelfth Street, Philadelphia, Pa. Myron E. Guill...... 405 E. Greer Street, Pasadena, Calif. William D. Hayes...... P. O. Box 864, Bangor, Maine H. F. Hinderer...... 408½ South Roan Street, Johnson City, Tenn. Richard M. Hunter...... 1017 Commercial Bank Bldg., Charlotte 2, N. C. Joe L. Jackson...... Clover, S. C. Ansell G. Johnson...... 941 Stuart Building, Seattle 1, Wash. L. Ludwell Jones, Jr...... 1621 Commerce Bldg., Houston 2, Texas Ernest G. Maihack...... 744 Broad Street, Newark 2, N. J. Eli Mason...... 521 Fifth Avenue, New York 17, N. Y. Stanley A. Miller...... 33 Church Street, Willimantic, Conn. List of Committee Members 11

John G. Moody...... 203 College Street, Burlington, Vt. Robert M. Musselman. . P. O. Box 1211, University Station, Charlottesville, Va. Fred T. Neely...... 207 Bank of Commerce Bldg., Greenwood, Miss. Edwin W. Norberg. . . .822 First National Soo-Line Bldg., Minneapolis 2, Minn. Lyman W. Oehring...... 402 Second National Bank Bldg., Saginaw, Mich. O. J. Oosterhoudt...... 1009 Barnett National Bank Bldg., Jacksonville, Fla. Theodore N. Perry...... 231 S. LaSalle Street, Chicago 4, Ill. Leonard D. Riccio...... 875 Elm Street, Manchester, N. H. R. Warner Ring...... 1202 Alfred I. Du Pont Building, Miami 32, Florida C. W. Rossdutcher...... 327 Beacon Building, Wichita 2, Kans. George F. Shannon...... 288 Main Street, Worcester, Mass. W. Kenneth Simpson...... 1712 Heyburn Building, Louisville 2, Ky. W. S. Whittlesey, Jr...... 15 Lewis Street, Hartford 3, Conn.

ARBITRATION Lincoln G. Kelly, Chairman. . . .603 Walker Bank Bldg., Salt Lake City 1, Utah C. A. Blankenburg...... 410 First Natl. Bank Bldg., Houston 2, Texas Alphonse M. Hart...... 1014 Commerce Court Bldg., Newark 2, N. J. Edward S. Rittler...... 500 Audubon Building, New Orleans 16, La. Clarence L. Turner...... 1622 Chestnut Street, Philadelphia 3, Pa.

AUDITING PROCEDURE Gordon M. Hill, Chairman...... 250 Park Avenue, New York 17, N. Y. Donald J. Bevis...... 1380 National Bank Bldg., Detroit 26, Mich. J. B. Carson...... 801 William-Oliver Bldg., Atlanta 3, Ga. Stephen Chan...... 521 Fifth Avenue, New York 17, N. Y. Charles F. Coates...... 750 Main Street, Hartford 3, Conn. M. C. Gonick...... First National Bank Bldg., Pittsburgh 22, Pa. Carl M. Esenoff...... 727 First National Bldg., San Diego 1, Calif. Harry C. Grumpelt...... 165 Broadway, New York 6, N. Y. Russell C. Harrington...... 1702 Industrial Trust Bldg., Providence 3, R. I. Joel D. Harvey...... 80 Federal Street, Boston 10, Mass. Malcolm Lamont...... 70 Pine Street, New York 5, N. Y. J. Woodrow Mathews...... 1639 Gulf Bldg., Pittsburgh 19, Pa. Clifton H. Morris...... 1205 Fair Bldg., Fort Worth, Texas Benjamin Neuwirth...... 60 East 42nd Street, New York 17, N. Y. Fred G. Page...... 407 American Trust Bldg., Nashville 3, Tenn. J. Leonard Penny...... 105 West Adams Street, Chicago 3, Ill. W. D. Sprague...... 67 Broad Street, New York 4, N. Y. Ralph L. Stauffer...... 1518 Walnut Street, Philadelphia 2, Pa. A. Frank Stewart...... 1102 State Planters Bank Bldg., Richmond 10, Va. Charles H. Towns...... 80 Broad Street, New York 4, N. Y.

AWARDS Ralph B. Mayo, Chairman...... 1200 Security Bldg., Denver 2, Colo. W. A. Paton .... 812 School of Bus. Adm., Univ. of Michigan, Ann Arbor, Mich. Marshall M. Thomas...... 744 Broad Street, Newark 2, N. J. 12 American Institute of Accountants

Charles H. Towns...... 80 Broad Street, New York 4, N. Y. Edward B. Wilcox...... 120 South LaSalle Street, Chicago 3, Ill. BANKRUPTCY AND REORGANIZATION Henry E. Mendes, Chairman...... 233 Broadway, New York 7, N. Y. A. H. Puder...... 60 Park Place, Newark 2, N. J. D. P. Williams...... 1807 Boatmens Bank Bldg., St. Louis 2, Mo. BOARD OF EXAMINERS For three years Philip Bardes...... 90 Broad Street, New York 4, N. Y. James W. Hickey...... 750 Main Street, Hartford 3, Conn. Harry L. Stover...... 1012 Baltimore Avenue, Kansas City 6, Mo. For two years Herman W. Bevis, Chairman ...... 56 Pine Street, New York 5, N. Y. James E. Hammond...... 111 Sutter Street, San Francisco, Calif. Thomas W. Leland...... Box 267 Faculty Exchange, College Station, Texas For one year M. C. Conick...... First National Bank Bldg., Pittsburgh 22, Pa. Louis M. Kessler...... 1 North LaSalle Street, Chicago 2, Ill. John W. McEachren...... 1380 National Bank Bldg., Detroit 26, Mich.

ADVISORY COMMITTEE ON UNIFORM CPA EXAMINATION Martin L. Black, Jr...... Box 4765 Duke University, Durham, N. C. Ida S. Broo...... 525 Indiana Trust Bldg., Indianapolis 4, Ind. James N. Buccalo...... 33 North High Street, Columbus 15, Ohio Arthur M. Cannon...... University of Washington, Seattle 5, Wash. Almand R. Coleman...... Washington & Lee University, Lexington, Va. O. M. Cordle...... 605 Denham Building, Denver 2, Col. L. E. Fonteine...... 225 East Michigan Street, Milwaukee 2, Wis. S. Paul Garner...... Sch. of Commerce & Bus. Adm., U. of Ala., University, Ala. Richard H. Grosse...... Farmers Bank Building, Pittsburgh 22, Pa. William H. Holm...... 203 Mayer Building, Portland 5, Ore. Anthony F. Kearney...... 60 State Street, Boston 9, Mass. Lincoln G. Kelly...... 603 Walker Bank Bldg., Salt Lake City 1, Utah R. D. Koppenhaver...... Univ. of N. D., University Station, Grand Forks, N. D. William B. Kottinger, Jr...... Box 30, 29 East First Street, Reno, Nev. Victor Markwalter...... 1023 Southern Finance Corp. Bldg., Augusta, Ga. O. R. Martin...... 508 First National Bank Bldg., Lincoln 8, Nebr. Z. Turner McGuire...... Fannin State Bank Bldg., Houston 5, Texas Louis A. Miazza...... 612 Standard Life Bldg., Jackson, Miss. Herbert E. Miller...... Sch. of Bus. Adm., Univ. of Mich., Ann Arbor, Mich. Edmund L. O’Brien...... 2504 New Industrial Trust Bldg., Providence, R. I. Robert E. Opferkuch...... 818 Commercial Bldg., Shreveport, La. Henry S. Owens...... 1028 Connecticut Ave., N. W., Washington 6, D. C. Merrill C. Patten...... 7 Pendelton Street, Greenville, S. C. Erle E. Peacock...... Sch. of Bus. Adm., Univ. of N. C., Chapel Hill, N. C. Edwin L. Pearson...... 510 Essex Bldg., Minneapolis, Minn. List of Committee Members 13

Gordon J. Raab...... 211 Consolidated Royalty Bldg., Casper, Wyo. R. Warner Ring...... 1202 Alfred I. DuPont Building, Miami 32, Fla. Howard A. Schnepfe...... 10 Light Street, Baltimore 2, Md. Joseph J. Seaman...... 214 Smith Street, Perth Amboy, N. J. Roman R. Sevenich...... 2515 Foshay Tower, Minneapolis 2, Minn. Edward P. Tremper...... 1411 Fourth Avenue Bldg., Seattle 1, Wash. Daniel G. Weinstein...... 185 Church Street, New Haven 10, Conn. L. C. J. Yeager...... 820 Kentucky Home Life Bldg., Louisville 2, Ky. BUDGET AND FINANCE William M. Black, Chairman...... 70 Pine Street, New York 5, N. Y. Harold R. Caffyn...... 43 Broad Street, New York 4, N. Y. Arthur B. Foye...... 67 Broad Street, New York 4, N. Y. BY-LAWS Harold A. Mock, Chairman...... 50 State Street, Boston 9, Mass. Joseph J. Klein...... 60 East 42nd Street, New York 17, N. Y. John F. Macha...... 1905 First National Bank Bldg., Pittsburgh 22, Pa. Charles N. McClendon...... 533 Bankers Mortgage Bldg., Houston, Texas Paul K. Webster...... 155 Montgomery Street, San Francisco 4, Calif. CPA HANDBOOK Maurice H. Stans, Chairman...... 1 North LaSalle Street, Chicago 2, Ill. Stephen Chan...... 521 Fifth Avenue, New York 17, N. Y. Marquis G. Eaton...... Alamo National Bldg., San Antonio 5, Texas Arthur B. Foye...... 67 Broad Street, New York 4, N. Y. Robert E. Witschey...... 311 Knight Bldg., Charleston, W. Va. COLLEGE AND UNIVERSITY ACCOUNTING Ralph S. Johns, Chairman...... 141 West Jackson Boulevard, Chicago 4, Ill. Sterling H. Bass...... 6650 S. Cicero Ave., Chicago 38, Ill. A. R. Burton...... 216 Luhrs Building, Phoenix, Ariz. D. Lyle Dieterle...... P. O. Box 343, Bloomington, Ind. Simon Loeb...... 501 Fifth Avenue, New York 17, N. Y. Marcus Robbins...... 119 College Street, New Haven, Conn. Stanley W. White...... 80 Federal Street, Boston 10, Mass. Howard A. Withey...... 444 Madison Avenue, New York 22, N. Y. COOPERATION WITH BANKERS Alvin R. Jennings, Chairman...... 90 Broad Street, New York 4, N. Y. Paul J. Adam...... 21 West 10th Street, Kansas City 6, Mo. M. H. Barnes...... 1018 Citizens & Southern National Bank Bldg., Atlanta, Ga. R. Bauhof...... 1356 Union Commerce Building, Cleveland, Ohio William Cotton...... 402 Lincoln Bank Bldg., Louisville 2, Ky. J. Cyril McGarrigle...... 112 South 16th Street, Philadelphia 2, Pa. John B. Norberg...... 81i2 Pershing Square Building, Los Angeles 13, Calif. J. Leonard Penny...... 105 West Adams Street, Chicago 3, Ill. R. L. Persinger...... 127 Maple Avenue, Covington, Va. John C. Proctor...... 110 East 4th Street, Greenville, N. C. R. G. Rankin...... 30 Broad Street, New York 4, N. Y. James A. Runser...... 155 Montgomery Street, San Francisco 4, Calif. 14 American Institute of Accountants

COOPERATION WITH BUREAU OF ECONOMIC RESEARCH Maurice E. Peloubet, Chairman...... 25 Broadway, New York 4, N. Y. Albert E. Hunter...... 80 Federal Street, Boston 10, Mass. Edward B. Wilcox...... 120 South LaSalle Street, Chicago 3, Ill.

COORDINATION OF ACTIVITIES OF STATE AND NATIONAL ORGANIZATIONS George O. Carlson, Chairman. .510 South Spring Street, Los Angeles 13, Calif. Walter H. Crim...... 465 Skinner Building, Seattle 1, Wash. Ben M. Davis...... 823 Mims Building, Abilene, Texas Everett W. Delaney...... 886 Main Street, Bridgeport 3, Conn. F. G. Eichhorn...... 203 Southeastern Bldg., Greensboro, N. C. L. T. Flatley...... 609 National Bank Bldg., South Bend 11, Ind. Kermit T. Hart...... 602 First National Bank Bldg., Mobile 13, Ala. George A. Hewitt...... 2101 Packard Bldg., Philadelphia 2, Pa. William P. Hutchison. .409 United States National Bank Bldg., Portland 4, Ore. William B. Jones...... National Bank of Commerce Bldg., New Orleans, La. John C. Martin...... 33 North High Street, Columbus 15, Ohio Allen M. McRae...... 1002 Montgomery Bldg., Spartanburg, S. C. O. G. Roquemore...... 614 World Building, Tulsa 3, Okla. Roman R. Sevenich...... 2515 Foshay Tower, Minneapolis 2, Minn. John M. Stoy...... 1757 K Street, N. W., Washington 6, D. C. Carl D. Tisor...... 500 Title & Trust Bldg., Phoenix, Ariz. Victor E. Troutfetter...... 1200 Security Bldg., Denver 2, Colo. Gordon G. Volz...... 800 Gay Building, Madison, Wis. J. Robert White...... 530 West 6th Street, Los Angeles 14, Calif. Charles A. Zarini...... 531 U. S. National Bank Bldg., Denver 2, Colo.

CREDENTIALS Maurice H. Stans, Chairman...... 1 North LaSalle Street, Chicago 2, Ill. Charles W. Jones...... 120 South LaSalle Street, Chicago 3, Ill. Thomas J. Reedy...... 111 West Washington Street, Chicago 2, Ill.

EXECUTIVE COMMITTEE J. A. Phillips, Chairman.... 1809 Second National Bank Bldg., Houston 2, Tex. Thornton G. Douglas...... 530 West 6th Street, Los Angeles 14, Calif. Samuel W. Esicew...... Kentucky Home Life Bldg., Louisville 2, Ky. Coleburke Lyons...... 2200 Book Tower, Detroit 26, Mich. Mark E. Richardson...... 916 Investment Bldg., Washington 5, D. C. Harold R. Caffyn...... 43 Broad Street, New York 4, N. Y. T. Coleman Andrews...... 915 American Bldg., Richmond 6, Va. William M. Black...... 70 Pine Street, New York 5, N. Y. Roy C. Comer...... Dexter Horton Building, Seattle 4, Wash. Arthur B. Foye...... 67 Broad Street, New York 4, N. Y. J. William Hope...... 886 Main Street, Bridgeport 3, Conn. Saul Levy...... 1 Wall Street, New York 5, N. Y. Robert E. Witschey...... 311 Knight Bldg., Charleston, W. Va. List of Committee Members 15

FEDERAL TAXATION Thomas J. Green, General Chairman...... 70 Pine Street, New York 5, N. Y. Subcommittee on Current Tax Legislation Wallace M. Jensen, Chairman. . . .1380 National Bank Bldg., Detroit 26, Mich. Robert Caldwell, Jr...... 1200 Bankers Securities Bldg., Philadelphia 7, Pa. Howard F. Elin...... 1440 Broadway, New York 18, N. Y. Benjamin Harrow...... 19 Rector Street, New York 6, N. Y. Everett C. Johnson...... 120 South LaSalle Street, Chicago 3, Ill. James J. Mahon, Jr...... 2101 Packard Bldg., Philadelphia 2, Pa. Leslie Mills...... 56 Pine Street, New York 5, N. Y. B. S. Mothershead...... 113 East Harrison Street, Harlingen, Texas Hilary H. Osborn...... 407 American Trust Bldg., Nashville 3, Tenn. Charles N. Whitehead...... 155 Montgomery Street, San Francisco 4, Calif. Subcommittee on Long-Range Tax Policy J. S. Seidman, Chairman...... 80 Broad Street, New York 4, N. Y. Russell S. Bock...... 510 South Spring Street, Los Angeles 13, Calif. Walter M. Bury...... 2000 Buhl Building, Detroit 26, Mich. Hal Canary...... 1301 Columbian Mutual Tower, Memphis 3, Tenn. J. S. Cowing...... 2222 Packard Building, Philadelphia 2, Pa. J. P. Goedert...... 1 North LaSalle Street, Chicago 2, Ill. Harry J. Kuehn...... 425 Railway Exchange Bldg., Kansas City, Mo. Donald A. Miller...... 409 Kearns Bldg., Salt Lake City 1, Utah Raymond R. Morris...... 12th floor, Boyle Building, Little Rock, Ark. Bradley O. Turner...... 1712 Heyburn Building, Louisville 2, Ky. Ross T. Warner...... 1120 First National Bldg., Tulsa 3, Okla. Subcommittee on Tax Administration W. Herbert Danne, Chairman. .1000 Vermont Ave., N. W., Washington 5, D. C. Michael D. Bachrach...... 1508 Farmers Bank Bldg., Pittsburgh 22, Pa. William J. Carter...... 800 Peachtree Building, Atlanta 5, Ga. Milton C. Charles...... 15 East 26th Street, New York 10, N. Y. Walter R. Flack...... 210 Alamo Title Building, San Antonio 5, Texas W. Waller Grogan...... 417 Lincoln Bank Bldg., Louisville 2, Ky. William W. Johnston...... 293 Bridge Street, Springfield 3, Mass. Mary Lanigar...... 403 Merchants Exchange Bldg., San Francisco 4, Calif. John F. Prescott...... 235 Bryan Building, Raleigh, N. C. Troy G. Thurston...... 528 Chamber of Commerce Bldg., Indianapolis 4, Ind. T. Dwight Williams...... 2220 First National Bldg., Oklahoma City 2, Okla.

FOREIGN AFFAIRS Arthur B. Foye, Chairman . .67 Broad Street, New York 4, N. Y. T. Coleman Andrews...... 915 American Bldg., Richmond 6, Va. George Cochrane...... 67 Broad Street, New York 4, N. Y. John J. Deering...... 165 Broadway, New York 6, N. Y. J. W. F. Neill...... 56 Pine Street, New York 5, N. Y. Harold B. Simpson...... 70 Pine Street, New York 5, N. Y. 16 American Institute of Accountants

GOVERNMENTAL ACCOUNTING T. Coleman Andrews, Chairman...... 915 American Bldg., Richmond 6, Va. Osa F. Alexander .... 512 Greenville National Exchange Bank, Greenville, Texas James L. Benson...... 1827 Munsey Building, Baltimore 2, Md. C. H. Cavness...... The State Auditor, State Capitol, Austin, Texas Joseph M. Cunningham...... 111 Broadway, New York 6, N. Y. J. M. Lowery...... Auditor, County of Los Angeles, 302 Hall of Records, Los Angeles 12, Calif. William H. Sherman...... Comptroller, Town of Greenwich, Town Hall, Greenwich, Conn. Irving Tenner...... 10 North Clark Street, Chicago 2, Ill. George A. Wilson ...... 201 Devonshire Street, Boston 10, Mass.

HISTORY Norman E. Webster, Chairman...... 50 Broadway, New York 4, N. Y. L. G. Battelle...... 403 West 1st Street, Dayton 2, Ohio Carl E. Dietze...... 213 West Wisconsin Avenue, Milwaukee 3, Wis. William Dolge...... 351 California Street, San Francisco 4, Calif. William M. Franklin...... 1227 Comer Bldg., Birmingham 3, Ala. William P. Hilton...... 119 West Tazewell Street, Norfolk 10, Va. E. M. Kendrick. .1308 Citizens & Southern National Bank Bldg., Atlanta 3, Ga. Ethel S. Kingman...... 211 Congress Street, Boston 10, Mass. A. C. Littleton...... 1157 South Steele, Denver 10, Colo. Spencer H. Over...... Hospital Trust Bldg., Providence 3, R. I. Edward I. Petze...... 205 Church Street, New Haven 10, Conn. Ernest Reckitt...... 425 Greenwood Boulevard, Evanston 2, Ill. T. Edward Ross...... 2101 Packard Building, Philadelphia 2, Pa. George A. Treadwell...... 8428 Pritchard Place, New Orleans 18, La. Mervyn B. Walsh...... 120 Madison Avenue, Detroit 26, Mich.

INTERSTATE PRACTICE Andrew Stewart, Chairman...... 67 Broad Street, New York 4, N. Y. Harry P. Baumann...... 208 South LaSalle Street, Chicago 4, Ill. Lloyd R. Bock...... 708 Hubbell Bldg., Des Moines 9, Iowa Russell S. Bogue...... 501 Morgan Street, Tampa, Florida Stanley V. Davies...... United States National Bank Bldg., Denver 2, Colo. Clifford V. Heimbucher...... 220 Bush Street, San Francisco 4, Calif. George A. Hewitt...... 2101 Packard Bldg., Philadelphia 2, Pa. John C. Martin...... 33 North High Street, Columbus 15, Ohio T. S. Mauldin...... P. O. Box 93, Albany, Georgia Hatcher A. Pickens...... 1205 Fair Bldg., Fort Worth, Texas Edward S. Rittler...... 500 Audubon Building, New Orleans 16, La.

MEETINGS Donald R. Jennings, Chairman...... 33 North LaSalle Street, Chicago 2, Ill. J. Edward Burke...... 231 South LaSalle Street, Chicago 4, Ill. Henry T. Chamberlain...... 1640 West Hubbard Street, Chicago, Ill. List of Committee Members 17

Robert L. Chesnutt...... 208 South La Salle Street, Chicago 4, Ill. Richard S. Claire...... 120 South LaSalle Street, Chicago 3, Ill. William S. Deeming...... 105 West Adams Street, Chicago 3, Ill. Harry I. Grossman...... 110 South Dearborn Street, Chicago 3, Ill. Paul F. Johnson...... 231 South La Salle Street, Chicago 4, Ill. Louis M. Kessler...... 1 North LaSalle Street, Chicago 2, Ill. E. Waldo Mauritz...... First National Bank Bldg., Chicago 3, Ill. L. B. McLaughlin...... 1 North LaSalle Street, Chicago 2, Ill. Peter Mendelssohn...... 110 South Dearborn Street, Chicago 3, Ill. Robert J. Murphey...... 240 North Church Street, Decatur, Ill. Theodore N. Perry...... 231 South LaSalle Street, Chicago 4, Ill. Thomas J. Reedy...... 111 West Washington Street, Chicago 2, Ill. Walter H. Rohe...... 231 South La Salle Street, Chicago 4, Ill. Jackson W. Smart...... 208 South La Salle Street, Chicago 4, Ill. Cyril Talbot...... 105 South La Salle Street, Chicago 3, Ill.

MEMBERSHIP Policy Committee Gordon S. Battelle, Chairman...... 403 West First Street, Dayton 2, Ohio R. Carl Counts...... First National Bank Bldg., Kingsport, Tenn. Harry D. Hopson...... 1630 Bank of Commerce Bldg., Houston, Texas Edward L. Lawson...... 50 East 42nd Street, New York 17, N. Y. Coleburke Lyons...... 2200 Book Tower, Detroit 26, Mich. J. Arthur Marvin...... 100 Broadway, New York 5, N. Y. Harry W. Verhoef...... 711 Hoge Bldg., Seattle 4, Wash. Alabama Winston Brooke . .. 802 Commercial National Bank Bldg., Anniston Gilbert F. Dukes...... 311 First National Bank Bldg., Mobile Ferd C. Harwood...... Philipson Bldg., Gadsden James Regan, Jr...... 1304 Empire Bldg., Birmingham James W. Thornton ...... 411 Shepherd Bldg., Montgomery 4 Arizona Samuel Kiviat...... 140 South Central Avenue, Phoenix Lloyd O. Parker...... 412 Professional Bldg., Phoenix Oran Sarrels...... 902 Valley National Bldg., Tucson Robert M. Williams ...... Ross-Favour Bldg., Prescott Arkansas Harold Balch...... 411 Wallace Bldg., Little Rock Chester L. Greene...... First National Bank Bldg., El Dorado Paul Johnston...... 307 West Monroe, Jonesboro Glenn A. Railsback...... 408 National Bldg., Pine Bluff Edward Byron Sparks, Jr.. 604 Merchants National Bank Bldg., Fort Smith California H. V. Blackenbaker...... 530 West 6th Street, Los Angeles 14 Benton C. Coit...... 155 Montgomery Street, San Francisco 18 American Institute of Accountants

George Gibbs, Jr...... 221 Yale Avenue, Claremont John Harden, Jr...... 451 Porter Bldg., San Jose George E. Hefter...... 510 Third Street, Eureka Albert M. Hudson...... 727 First National Bldg., San Diego 1 Edmonds Knittle .... 1412 California Western States Life Bldg., Sacramento Robert M. Lawson...... 328 First Trade Bldg., Pasadena Walter R. Marshall...... 115 Linden Avenue, Long Beach 2 Jim McCown...... 254 Haberfelde Bldg., Bakersfield Francis J. McGowan...... 1222½ State Street, Santa Barbara John B. Norberg...... 812 Pershing Square Bldg., Los Angeles 13 Arnold Rue...... 919 Bank of America Bldg., Stockton Robert W. Ruggles...... 303 Bank of America Bldg., Beverly Hills John S. Stoughton...... 1837 Fulton Street, Fresno Kenneth L. Thompson...... 1100 Financial Center Bldg., Oakland 12 Colorado Paul E. Baldwin...... 702 Railway Exchange Bldg., Denver 2 Clayton A. Becker...... Thatcher Building, Pueblo John P. Proctor...... 207 Colorado Savings Bank Bldg., Colorado Springs Connecticut Joseph F. Capossela, Jr...... 945 Main Street, Bridgeport 3 Frederick F. Fischer...... 185 Church Street, New Haven 10 A. Stanley Harmon ...... 1 Atlantic Street, Stamford Edward H. Heilman, Jr...... 15 Lewis Street, Hartford Frank N. Robinson...... 66 North Main Street, South Norwalk Morris Thall...... 309 State Street, New London Delaware Benjamin Stolper...... 825 Washington Street, Wilmington

District of Columbia Clarence E. Kefauver, Jr...... 227 Shoreham Bldg., Washington Paul Matthews...... 1010 Vermont Avenue, N. W., Washington Benjamin F. Regardie...... 1625 Eye Street, N. W., Washington

Florida Robert M. Altemus...... 1620 Alfred I. DuPont Bldg., Miami 32 John E. Loucks...... 338 North Main Street, Orlando Raymond V. Patrick...... 501 Jackson Street, Tampa Robert L. Reamy. . . . 1825 Barnett National Bank Bldg., Jacksonville 2 E. Russell Sheldon. .502 First National Bank Bldg., St. Petersburg 1 Lee C. Shepherd, Jr...... 309 Citizens Bldg., West Palm Beach

Georgia Louis K. Bell...... 211 Marion Bldg., Augusta H. E. Fourcher, Jr...... 1104 Bankers Insurance Bldg., Macon Claude M. Hamrick, Jr...... 830 West Peachtree Bldg., Atlanta Charles E. Williams...... 909 Realty Bldg., Savannah James H. Willis...... 312 Columbus Bank & Trust Co. Bldg., Columbus List of Committee Members 19

Idaho John F. Hayden ...... 312 South Washington Street, Moscow Neal A. Jordan ...... 508 Carlson Bldg., Pocatello L. A. Lephart...... 204 Idaho Bldg., Boise Illinois Harry P. Baumann...... 208 South LaSalle Street, Chicago 4 J. Edward Burke...... 231 South LaSalle Street, Chicago 4 Rolland E. Craig...... 434 North Vermilion Street, Danville Frank P. Doheny...... 412 Commercial National Bank Bldg., Peoria 2 Donald L. Glass...... 109 North Poplar Street, Centralia George E. Hunt, Jr...... 118 South Walnut Street, Champaign Russell H. Morrison...... 120 South LaSalle Street, Chicago 3 Robert J. Murphey...... 240 North Church Street, Decatur Wayne E. Pollard...... 1010 Rockford Trust Bldg., Rockford Irving Richardson...... 1 North LaSalle Street, Chicago 2 C. J. Schlosser...... 115 Market Street, Alton Hiram T. Scovill. . . .217 David Kinley Hall, University of Illinois, Urbana Ralph W. Turnbull...... 416 First National Bank Bldg., Springfield Hal S. Wilson...... 105 South LaSalle Street, Chicago 3 Indiana Joseph L. Bubul...... 17 West Market Street, Indianapolis 4 William Andrew Caddick .507 Old National Bank Bldg., Evansville James A. DeWald...... 1825 Lincoln Tower, Fort Wayne 2 Herbert P. Harrington...... 114 South Franklin Street, Muncie William A. Markle...... 425 Merchants Bank Bldg., Indianapolis 4 Stanley A. Pressler...... Harry Stephens & Co., Bloomington John R. Wood, Jr...... 511 Whitcomb Keller Bldg., South Bend Iowa Waldo E. Brooks...... 315 Bank & Insurance Bldg., Dubuque George H. Hansen ...... 927 Davenport Bank Bldg., Davenport B. J. Meltzer ...... 120 Third Street, S. E., Cedar Rapids Sidney B. Smith ...... 316 Savings & Loan Bldg., Des Moines E. L. Stover...... 400 West Mullan Avenue, Waterloo Sidney L. Taylor...... 507 Benson .Bldg., Sioux City Kansas C. L. Coe...... 229 United Bldg., Salina Don F. Gresser...... 912 National Bank of Topeka Bldg., Topeka Ben F. Kubik...... 1106 Brown Bldg., Wichita 2 Aldon Louis Pierce ...... 508 Wolcott Bldg., Hutchinson Sam W. Sinderson. . . . .475 New Brotherhood Bldg., Kansas City Kentucky Espy Bailey...... First National Bank Bldg., Covington J. O. Boswell...... Holland Bldg., Owensboro Gordon Ford...... Kentucky Home Life Bldg., Louisville 2 J. C. Paris...... 208 Central Bank Bldg., Lexington 20 American Institute of Accountants

Louisiana William G. Aly .... 449 National Bank of Commerce Bldg., New Orleans 12 Lionel A. Champagne...... 305 Guaranty Income Life Bldg., Baton Rouge Robert E. Opferkuch...... 818 Commercial Bldg., Shreveport Maine Richard F. Garland...... 105 Preble Street, Portland 3 Maryland James L. Benson...... 1827 Munsey Bldg., Baltimore 2 Charles W. Hatter...... 1807 First National Bank Bldg., Baltimore 2 Joseph D. O’Connell...... 8701 Georgia Avenue, Silver Spring Massachusetts J. Henry Anderson...... 1176 Pleasant Street, Worcester Harold G. Bowen...... 416 Bay State Bldg., Lawrence James T. Cotter...... 80 Federal Street, Boston Leo J. F. Donovan...... 19 Purchase Street, Fall River John J. Harrington...... 675 Main Street, Waltham 54 John J. Hurley, Jr...... 174 Central Street, Lowell Francis Edward Moore ...... 80 Federal Street, Boston Harold A. Obrey...... 1323 Main Street, Springfield 3 Michigan Harry R. Bond...... 1407 Jackson City Bank Bldg., Jackson Robert L. Dixon, Jr...... University of Michigan, Ann Arbor John B. Engelbreit...... 1207 American National Bank Bldg., Kalamazoo Max Harris...... 1102 Olds Tower Bldg., Lansing Linn W. Hobbs...... 700 Book Bldg., Detroit 26 John D. Morrison...... 213 North Front Street, Marquette Wendell I. Nichols...... Evening News Bldg., Cadillac John J. Spinetto...... 407 Peoples National Bank Bldg., Grand Rapids 2 Donald H. Taylor...... 1406 Mott Foundation Bldg., Flint 3 Minnesota William W. Dolan, Jr...... 619 McKnight Bldg., Minneapolis Earl J. Lockhart...... 311 Sellwood Bldg., Duluth William W. Wolkoff...... 428 Minnesota Bldg., St. Paul Mississippi Jack F. Burke...... Magnolia State Bldg., Hattiesburg Clive F. Dunham...... University of Mississippi, University B. H. Hirsberg...... 405 McWilliams Bldg., Clarksdale Herbert I. Holt...... Liberty Bldg., Laurel R. H. Middleton...... P. O. Box 515, Greenwood Dick D. Quin...... P. O. Box 163, Jackson 5 J. Donovan Ready...... Citizens National Bank Bldg., Meridian Missouri Ralph W. Crouch...... 1325 Commerce Bldg., Kansas City C. S. Dobson...... 215 Joplin National Bank Bldg., Joplin Louis J. Kerber...... 320 North 4th Street, St. Louis List of Committee Members 21

Montana Maurice R. Colberg...... 302 Securities Bldg., Billings George F. DuVall...... 501 Montana Bldg., Missoula S. Clark Pyfer...... 555 Fuller Avenue, Helena J. Rodney Renman...... 705 First National Bank Bldg., Great Falls Nebraska John H. Becker...... 620 W. O. W. Bldg., Omaha 2 J. Edmunds Miller...... 1015 Trust Bldg., Lincoln 8 Nevada Nelson H. Conway...... 130 South 4th Street, Las Vegas William B. Kottinger, Jr...... Box 30, 29 East First Street, Reno New Hampshire Leonard D. Riccio...... 875 Elm Street, Manchester New Jersey Morris E. Albert ...... 415 Cooper Street, Camden Richard H. Ashton ...... 64 Hamilton Street, Paterson Morris A. Colner...... 744 Broad Street, Newark Morris H. Gard...... 118 East Front Street, Plainfield Max Gottlieb...... 663 Main Avenue, Passaic Jacob D. Linn...... 3510 Bergenline Avenue, Union City Isadore Miller...... Broad Street Bank Bldg., Trenton 8 John Miller...... 125 Broad Street, Elizabeth Arnold B. Rosenthal ...... 5 Elm Row, New Brunswick Joseph J. Seaman ...... 214 Smith Street, Perth Amboy O. Jay Silverman...... Schwehm Bldg., Atlantic City New Mexico W. E. Hammond...... 815 First National Bank Bldg., Albuquerque New York Raymond G. Ankers...... 90 Broad Street, New York 4 Morton I. Davis...... 521 Fifth Avenue, New York 17 Sidney B. Kahn...... 295 Madison Avenue, New York 17 Wm. L. Keating...... 90 Broad Street, New York 4 Arthur Korotkin...... 82 State Street, Albany 7 Martin F. Kortjohn...... 10 East 40th Street, New York 16 Philip B. Kravitz...... 99-30 64th Avenue, Forest Hills Samuel J. Lasser...... Bank of Jamestown Bldg., Jamestown Robert M. Leng...... 80 Broad Street, New York 4 Simon Loeb...... 501 Fifth Avenue, New York 17 Edgar G. Lucker...... 1013 Liberty Bank Bldg., Buffalo 2 Charles L. Marvin...... 246 State Street, Schenectady Raymond F. Murphy...... 306 University Bldg., Syracuse 2 Benjamin Neuwirth...... 60 East 42nd Street, New York 17 Henry W. Rowley...... 31 Exchange Street, Rochester Joseph Sandler...... 511 Fifth Avenue, New York 17 Harold Stanley Schlesinger . . . 133 Wayne Avenue, White Plains 22 American Institute of Accountants

Ira A. Schur...... 125 Park Avenue, New York 17 Louis Siegel...... 250 West 57th Street, New York 19 Harry E. Van Benschoten . . . . 1101, 295 Madison Avenue, New York 17 William Wallach...... 116 North Main Street, Port Chester North Carolina Albert H. Blake...... 200 Castanea Bldg., Asheville Hoyt Butler...... 601 Commercial Bldg., Gastonia Alfred W. Dodge...... 201 Fidelity Bldg., Lenoir S. Preston Douglas...... 206 McLean Bldg., Lumberton J. E. Gibson...... 1005 Reynolds Bldg., Winston-Salem Otho J. Jones, Jr...... Liberty Life Bldg., Charlotte Arthur W. Knight...... 612 Depositors National Bank Bldg., Durham Robert Lloyd...... 507 Piedmont Bldg., Greensboro Robert C. Platt, Jr...... 601 Murchison Bldg., Wilmington Sidney H. Shaw...... Planters National Bank Bldg., Rocky Mount John A. Williams, Jr...... Insurance Bldg., Raleigh North Dakota F. L. Castle...... 315 First National Bank Bldg., Grand Forks Gerald R. Conoboy...... 312 Black Bldg., Fargo Carl A. Person...... P. O. Box 565, Bismarck Ohio Edmund A. Clarke...... Williamson Bldg., Cleveland 14 Sidney J. Collins...... Mahoning Bank Bldg., Youngstown W. Lowell Doty...... 210 West Spring Street, Lima O. N. Folker...... 402 Harries Bldg., Dayton 2 Leonard L. Hopkins...... 33 North High Street, Columbus 15 Robert U. Patterson...... 1909 Ohio Bldg., Toledo Clarence G. Rausch...... 510 Metropolitan Bldg., Akron Ellsworth P. Scales, Jr...... 222 Cleveland Avenue, North Canton 2 Harry Sonkin...... 712 Traction Bldg., Cincinnati Oklahoma L. S. Baker...... 531 Commerce Exchange Bldg., Oklahoma City 2 Paul C. Campbell...... 309-310 Mining Exchange Bldg., Miami W. W. Rostet...... 410 National Bank of Tulsa Bldg., Tulsa 3 John T. Steed...... 312-313 Little Bldg., Ardmore Oregon James I. Elliott...... 218 North Liberty Street, Salem Harold Faunt...... 418 American Bank Bldg., Portland Kenneth E. Lambie .519 Walnut Street, Klamath Falls Thomas Winn...... 72 West Broadway, Eugene

Pennsylvania Rowland Carr...... 507 Dime Trust Bldg., Allentown Edwin C. Chinlund . . 1639 Gulf Bldg., Pittsburgh 19 Abram S. Kimmel. . . . Fulton Bank Bldg., Lancaster List of Committee Members 23

W. E. Koehler, Jr...... 216 Pine Street, Harrisburg Jerome A. LaManna...... 632 Washington Street—Room 200, Reading Alexander E. Loeb...... 642 Miners National Bank Bldg., Wilkes-Barre Wilbert J. Nace...... 123 East Market Street, York William H. Peterson, Jr...... 215 North Washington Avenue, Scranton 3 Charles J. Rowland...... 12 Glennland Bldg., State College J. Douglas Smiley...... 318 Marine Bank Bldg., Erie Charles F. Toewe...... 2222 Packard Bldg., Philadelphia 2 John W. Whiting, Jr...... 216 First National Bank Bldg., Williamsport

Rhode Island Carl W. Christiansen 409 Hospital Trust Bldg., Woonsocket Arthur F. Palmer. . .. . 111 Westminster Street, Providence 3

South Carolina James F. Burgess...... 222 Lawyers Bldg., Greenville Allen M. McRae ... 1002 Montgomery Bldg., Spartanburg Magnus A. Monsen...... P. O. Box 715, Charleston Joseph E. Whitmire . . .1316 Washington Street, Columbia

South Dakota Henry A. Scholten. .810 National Bank of South Dakota Bldg., Sioux Falls

Tennessee Edward N. Backus...... 408½ South Roan Street, Johnson City D. H. Hirsberg...... 410 Sudekum Bldg., Nashville 3 C. H. Lockerby...... 703 James Bldg., Chattanooga 2 Albert M. Miller...... 415 Fidelity Bankers Trust Bldg., Knoxville Clinton R. Pearson...... 881 Shrine Bldg., Memphis 1

Texas T. C. Anthony...... 529 Wichita National Bank Bldg., Wichita Falls J. C. Armstrong...... Myrick Bldg., Lubbock George D. Boone...... 920 Mercantile Securities Bldg., Dallas 1 Ben M. Davis...... 823 Mims Bldg., Abilene W. J. Hamby...... Goodhue Bldg., Beaumont William A. Harrison ...... Assistant State Auditor of Texas, Austin Herbert E. Hughes...... 515 El Paso National Bank Bldg., El Paso Worth F. Johnson...... 560 Fair Foundation Bldg., Tyler L. Ludwell Jones, Jr...... 1621 Commerce Bldg., Houston 2 Walter Z. Leatherwood ...... 706 Dan Waggoner Bldg., Fort Worth 2 John Shelby Scott...... 603 Service Mutual Bldg., Waco Henry J. Sebastian...... 1620 Alamo National Bldg., San Antonio 5 Harold B. Shile...... 817 West Sixth Street, Amarillo Otis K. Smith...... First State Bank Bldg., Mission J. Henry Wilkinson, Jr...... P. O. Box 1454, Midland Velda V. Woods...... 206 Kaffie Bldg., Corpus Christi 24 American Institute of Accountants

Utah Herbert J. Corkey...... 2761 Washington Boulevard, Ogden S. E. Newman...... 519 Continental Bank Bldg., Salt Lake City 1 Willard G. Smith ...... 309 First Security Bank Bldg., Provo Vermont Barney Z. Goldberg...... 125 Church Street, Burlington Virginia Walker E. Burnham...... 217 Lynch Bldg., Lynchburg Paul D. Cofer...... 206 Dickson Bldg., Norfolk 10 Jerry B. Cunningham ...... Dominion National Bank Bldg., Bristol C. R. Dale...... 127 Maple Avenue, Covington K. Clement Quinn ...... Shenandoah Bldg., Roanoke 11 Roger B. Sprigg...... 3108 Tenth Road, N., Arlington 1 Daniel Witt...... 915 American Bldg., Richmond 6

Washington Willis D. Brown. . . . 110 Exchange Bldg., Wenatchee Elmer H. Emery...... 501 Peyton Bldg., Spokane 1 D. W. Frame...... 223 Miller Bldg., Yakima Howard B. Hornaday . . . .800 Insurance Bldg., Seattle William W. Taylor. . . .716 Pacific Avenue, Tacoma 2 West Virginia A. L. Baumgarner...... 1214 West Virginia Bldg., Huntington Jesse L. Cramer...... Citizens National Bank Bldg., Parkersburg Norman S. Fitzhugh, Jr. 508 Kanawha Banking & Trust Bldg., Charleston 1 H. S. Hutzell...... 512 Laconia Bldg., Wheeling Louis F. Tanner...... 515 Monongahela Bldg., Morgantown Wisconsin G. A. Bark...... 740 North Plankinton Avenue, Milwaukee 3 C. A. Bertelson...... 509 South Barstow Street, Eau Claire John P. Chole...... 633 North Water Street, Milwaukee 2 E. A. Dettman...... 516 North Bateman Street, Appleton Louis A. Feurer...... 110 East Wisconsin Avenue, Milwaukee 2 Wilson A. Gibson...... 324 Exchange Bldg., LaCrosse Donald E. Gill...... 413 First National Bank Bldg., Madison 3 Harold A. Kugler...... 817 Chicago Street, Manitowoc John W. Ullrich...... First American State Bank Bldg., Wausau L. W. Van Natta...... 201 Sixth Street, Racine Gordon G. Volz...... 800 Gay Bldg., Madison Wyoming Alford W. Cooper...... Veile Bldg., Worland Clyde W. Gaymon...... 212 Hynds Bldg., Cheyenne E. Raymond Jeffryes...... 221 South Second Street, Laramie Charles L. Tangney...... 205 Con Roy Bldg., Casper Hawaii E. R. Cameron...... Suite 306, Bishop Trust Bldg., Honolulu List of Committee Members 25

NATIONAL DEFENSE J. Harold Stewart, General Chairman...... 50 State Street, Boston 9, Mass. Thomas J. Green...... 70 Pine Street, New York 5, N. Y.

Subcommittee on Cost Principles Maurice E. Peloubet, Chairman...... 25 Broadway, New York 4, N. Y. Clinton W. Bennett...... 140 Federal Street, Boston 10, Mass. H. T. McAnly...... 1356 Union Commerce Bldg., Cleveland 14, Ohio Henry W. Sweeney...... 52 Wall Street, New York 5, N. Y.

Subcommittee on Manpower Andrew Stewart, Chairman...... 67 Broad Street, New York 4, N. Y. Richard S. Claire...... 120 South LaSalle Street, Chicago 3, Ill. Thomas D. Flynn...... 165 Broadway, New York 6, N. Y. Frank S. Glendening...... Lincoln-Liberty Bldg., Philadelphia, Pa. Cyril Talbot...... 105 South LaSalle Street, Chicago 3, Ill.

Subcommittee on Price and Wage Control John H. Zebley, Jr., Chairman...... 1622 Chestnut Street, Philadelphia 3, Pa. Martin L. Black, Jr...... Box 4765, Duke University, Durham, N. C. Russell C. Harrington...... 1702 Industrial Trust Bldg., Providence 3, R. I. Louis M. Kessler...... 1 North LaSalle Street, Chicago 2, Ill. Mark C. Walker...... 80 Federal Street, Boston 10, Mass.

Subcommittee on Procurement Auditing John W. McEachren, Chairman. . . . 1380 National Bank Bldg., Detroit 26, Mich. George R. Catlett...... 120 South LaSalle Street, Chicago 3, Ill. Paul Grady...... 56 Pine Street, New York 5, N. Y. Edwin P. Noell...... 1070 Union Commerce Bldg., Cleveland 14, Ohio R. Warner Ring...... 1202 Alfred I. DuPont Bldg., Miami 32, Fla. Ralph B. Stratford...... 636 Pacific Bldg., Portland 4, Oregon Karl R. Zimmermann...... 55 Liberty Street, New York 5, N. Y.

Subcommittee on Renegotiation Leslie Mills, Chairman...... 56 Pine Street, New York 5, N. Y. Garrett T. Burns...... 67 Broad Street, New York 4, N. Y. Norman Loyall McLaren...... 155 Montgomery Street, San Francisco 4, Calif. J. S. Seidman...... 80 Broad Street, New York 4, N. Y. T. Dwight Williams...... 2220 First National Bldg., Oklahoma City 2, Okla.

Subcommittee on Termination George D. Bailey, Chairman...... 1380 National Bank Bldg., Detroit 26, Mich. John B. Inglis...... 56 Pine Street, New York 5, N. Y. C. Oliver Wellington...... 111 Broadway, New York 6. N. Y. 26 American Institute of Accountants

NATURAL BUSINESS YEAR

Robert S. Warner, Chairman . . .510 South Spring Street, Los Angeles 13, Calif Alabama—J. Dozier P. Arnold...... 1015 First National Bldg., Birmingham Arizona—Frederick H. Woodward...... 520 Luhrs Bldg., Phoenix Arkansas—R. Alfred Lile...... 627 Pyramid Bldg., Little Rock California—Charles C. Cobun...... 315 West 9th Street, Los Angeles 15 Colorado—Alexander J. Lindsay...... 904 Security Bldg., Denver 2 Connecticut—Emil J. Monde...... 205 Church Street, New Haven 10 Delaware—Bernard B. Isaacson...... 825 Washington Street, Wilmington 99 Florida—N. H. Bunting...... State Bank Bldg., Lake Wales Georgia—W. J. Nettles...... The William-Oliver Bldg., Atlanta 3 Idaho—M. T. Deaton...... 210 Central Bldg., Pocatello Illinois—Russell V. Puzey...... 39th Floor, Board of Trade Bldg., Chicago 4 Indiana—Joseph E. Hamaker...... 130 East Washington St., Indianapolis 4 Iowa—Donald E. Schmidt . . 1015 Merchants National Bank Bldg., Cedar Rapids Kansas—H. Calvert Krueger...... 327 Beacon Bldg., Wichita Kentucky—L. C. J. Yeager...... 820 Kentucky Home Life Bldg., Louisville 2 Louisiana—Harry G. Frazer...... 708 Ouachita Bank Bldg., Monroe Maine—Lincoln L. Adam...... 465 Congress Street, Portland 3 Maryland—William B. Tittsworth...... 500 Equitable Bldg., Baltimore 2 Massachusetts—Richard S. Chamberlain...... 75 Federal Street, Boston 10 Michigan—Wayne B. Wagar...... 402 Second National Bank Bldg., Saginaw Minnesota—Fred C. Wight...... E-706 First National Bank Bldg., St. Paul 1 Mississippi—J. Donovan Ready...... Citizens National Bank Bldg., Meridian Missouri—Carl K. Fireside...... 705 Olive Street, St. Louis Montana—Thomas C. Ferris...... 419 Strain Bldg., Great Falls Nebraska—J. H. Imig...... 915 First National Bank Bldg., Omaha 2 Nevada—William B. Kottinger, Jr...... Box 30, 29 East First St., Reno New Hampshire—Nathaniel F. Bigelow, Jr...... 116 Lowell Street, Manchester New Jersey—Theodore Krohn...... 9 Clinton Street, Newark 2 New Mexico—J. B. Stephenson .... 816 First National Bank Bldg., Albuquerque New York—Thomas F. Conroy...... 67 Wall Street, New York 5 North Carolina—Elton B. Taylor...... P. O. Box 453, Charlotte North Dakota—Edward W. Brady. .304 First National Bank Bldg., Grand Forks Ohio—A. J. Hyde...... 1550 Hanna Bldg., Cleveland 15 Oklahoma—E. C. Leonard, Jr...... 410 National Bank of Tulsa Bldg., Tulsa 3 Oregon—John F. Lee...... 404 Selling Bldg., Portland 5 Pennsylvania—Lawrence P. Quill . . . 1508 Farmers Bank Bldg., Pittsburgh 22 Rhode Island—John H. Hanover...... 533 Industrial Trust Bldg., Providence 3 South Carolina—I. T. Welling, Jr...... 7 Pendleton Street, Greenville South Dakota—Henry A. Scholten. .810 Natl. Bk. of S. D. Bldg., Sioux Falls Tennessee—James W. Allen...... 1018 Third National Bank Bldg., Nashville Texas—Walter E. Vater...... 2121 Commerce Bldg., Houston Utah—Lawrence S. Pinnock...... 502 Newhouse Bldg., Salt Lake City 1 Vermont—Edgar C. Salvesen...... 2 Country Hill, Brattleboro List of Committee Members 27

Virginia—H. W. Woodhouse...... 641 Wainwright Bldg., Norfolk Washington—Eric H. Wiles...... 510 Skinner Bldg., Seattle 1 West Virginia—H. S. Hutzell...... 512 Laconia Bldg., Wheeling Wisconsin—Robert Richardson...... 110 East Wisconsin Ave., Milwaukee 2 Wyoming—Elmer M. Likes...... 210 North Side State Bldg., Rock Springs NOMINATIONS J. William Hope, Temporary Chairman. . . .886 Main Street, Bridgeport 3, Conn. Virgil S. Tilly...... 410 National Bank of Tulsa Bldg., Tulsa 3, Okla. J. O. Dickinson...... 123 South Broad Street, Philadelphia 9, Pa. C. C. Gabrielson...... 812 Pershing Square Bldg., Los Angeles 13, Calif. John C. Martin...... 33 North High Street, Columbus 15, Ohio W. Kenneth Simpson...... 1712 Heyburn Bldg., Louisville 2, Ky. Prior Sinclair...... 90 Broad Street, New York 4, N. Y. PROFESSIONAL ETHICS Edward J. McDevitt, Chairman...... 201 Devonshire Street, Boston 10, Mass. Alvin R. Jennings...... 90 Broad Street, New York 4, N. Y. Edwin W. Norberg...... 822 First National Soo-Line Bldg., Minneapolis 2, Minn. Paul K. Webster...... 155 Montgomery Street, San Francisco 4, Calif. T. Dwight Williams...... 2220 First National Bldg., Oklahoma City 2, Okla. PUBLIC RELATIONS A. Stanley Harmon, Chairman...... 1 Atlantic Street, Stamford 5, Conn. Frank L. Arnold...... 1127 Third National Bldg., Dayton 2, Ohio T. N. Grice...... 302 Security Bank Bldg., Raleigh, N. C. Paul W. Lukens...... 2163 DuPont Building, Wilmington, Del. Robert L. MacReynolds...... 403 West Eighth Street, Los Angeles 14, Calif. Harold A. Mock...... 50 State Street, Boston 9, Mass. Clifton H. Morris...... 1205 Fair Building, Fort Worth, Texas John J. Pateros...... First National Bank Bldg., Pittsburgh 22, Pa. Gerald C. Schroeder...... 1106 Penobscot Bldg., Detroit 26, Mich. Harold W. Scott...... 1601 National Bank Bldg., Detroit 26, Mich. Advisors Samuel J. Broad (Chairman, committee on accounting personnel), 70 Pine Street, New York 5, N. Y. Paul K. Knight (Chairman, committee on accounting procedure), 67 Broad Street, New York 4, N. Y. Gordon M. Hill (Chairman, committee on auditing procedure), 250 Park Avenue, New York 17, N. Y. Alvin R. Jennings (Chairman, committee on cooperation with bankers), 90 Broad Street, New York 4, N. Y. Thomas J. Green (General Chairman, committee on federal taxation), 70 Pine Street, New York 5, N.Y. Percival F. Brundage (Chairman, committee on relations with bar), 56 Pine Street, New York 5, N. Y. Clifford V. Heimbucher (Chairman, committee on state legislation), 220 Bush Street, San Francisco 4, Calif. 28 American Institute of Accountants

PUBLICATION J. A. Phillips, Chairman. . . . 1809 Second National Bank Bldg., Houston 2, Texas Samuel W. Eskew...... Kentucky Home Life Bldg., Louisville 2, Ky. J. William Hope...... 886 Main Street, Bridgeport 3, Conn. EDITORIAL ADVISORY BOARD Philip Bardes...... 90 Broad Street, New York 4, N. Y. George O. Carlson...... 510 South Spring Street, Los Angeles 13, Calif. Marquis G. Eaton...... Alamo National Bldg., San Antonio 5, Texas James B. Fenner...... P. O. Box 931, Toledo 1, Ohio J. P. Friedman...... 233 Broadway, New York 7, N. Y. Ira N. Frisbee...... 303 Bank of America Bldg., Beverly Hills, Calif. Paul J. Graber...... College of Bus. Adm., Univ. of Tulsa, Tulsa 4, Okla. Charles A. Hoyler...... 43 Broad Street, New York 4, N. Y. M. A. Kenyon . . . Colgate-Palmolive-Peet Co., 105 Hudson St., Jersey City 2, N. J. I. H. Krekstein...... 1528 Walnut Street, Philadelphia 2, Pa. J. K. Lasser...... 1440 Broadway, New York 18, N. Y. Eleanor McCormick...... 33 West 42nd Street, New York 36, N. Y. Stewart Y. McMullen...... Northwestern Univ., Evanston, Ill. T. B. Noble...... Stockham Valves and Fittings, Box 2592, Birmingham 2, Ala. Glenn O. Petty...... 2101 Packard Bldg., Philadelphia 2, Pa. Weldon Powell...... 67 Broad Street, New York, N. Y. Weston Rankin...... 56 Pine Street, New York 5, N. Y. John F. Y. Stambaugh...... 1515 Hunt Bldg., Tulsa 3, Okla. Thomas R. Ward...... P. O. Box 546, 307 Rosenbaum Bldg., Meridian, Miss. Kurt A. Welgehausen...... 2121 Commerce Bldg., Houston 2, Texas J. Robert White...... 530 West Sixth Street, Los Angeles 14, Calif. I. D. Wood...... 203 Mayer Bldg., Portland 5, Oregon RELATIONS WITH BAR Percival F. Brundage, Chairman...... 56 Pine Street, New York 5, N. Y. Maurice Austin...... 60 East 42nd Street, New York 17, N. Y. Marquis G. Eaton...... Alamo National Bldg., San Antonio 5, Texas Mark E. Richardson...... 916 Investment Building, Washington 5, D. C. Maurice H. Stans...... 1 North LaSalle Street, Chicago 2, Ill.

RELATIONS WITH SEC John B. Inglis, Chairman...... 56 Pine Street, New York 5, N. Y. Paul K. Knight...... 67 Broad Street, New York 4, N. Y. Glen E. Martin...... 105 South LaSalle Street, Chicago 3, Ill. Edward J. McDevitt...... 201 Devonshire Street, Boston 10, Mass. Weldon Powell...... 67 Broad Street, New York 4, N. Y.

STATE LEGISLATION Clifford V. Heimbucher, Chairman. . . 220 Bush Street, San Francisco 4, Calif. Palmer C. Bakken...... 1 Third Street, Bismarck, N. D. Lloyd R. Bock...... 708 Hubbell Bldg., Des Moines, Iowa Henry G. Burke...... 1016 Munsey Bldg., Baltimore 2, Md. List of Committee Members 29

Roy C. Comer...... Dexter Horton Bldg., Seattle 4, Wash. L. C. Dodge...... Montgomery Bldg., Spartanburg, S. C. Austin H. Gresham...... 706 Kentucky Home Life Bldg., Louisville, Ky. Charles M. Griffin...... 527 Wasatch Oil Bldg., Salt Lake City, Utah Leonard L. Hopkins...... 33 North High Street, Columbus 15, Ohio O. N. Hutchinson...... 501 Johnston Bldg., Charlotte, N. C. E. Woody Kuhlman...... 231 West Wisconsin Avenue, Milwaukee 3, Wis. E. C. Leonard, Jr...... 410 National Bank of Tulsa Bldg., Tulsa 3, Okla. Coleburke Lyons...... 2200 Book Tower, Detroit 26, Mich. Robert L. Miller...... 428 Chestnut Street, Lebanon, Pa. J. Sydnor Mitchell...... 512 Southern States Bldg., Richmond, Va. Lee J. Muren...... 1018 Arcade Bldg., St. Louis 1, Mo. Edwin L. Pearson...... 510 Essex Bldg., Minneapolis, Minn. Waymon G. Peavy...... 900 Mercantile Securities Bldg., Dallas 1, Texas John A. Peyroux, Jr...... 1812 American Bank Bldg., New Orleans 12, La. R. G. Rankin...... 30 Broad Street, New York 4, N. Y. Raymond E. Rickbeil...... 921 First National Bank Bldg., Springfield, Ill. J. J. Scarborough...... 501 Jackson Bldg., Birmingham 3, Ala. Norman H. S. Vincent...... 50 Congress Street, Boston 9, Mass. R. Lowell Watkins...... 917 Ninth Avenue, Helena, Mont. Ralph J. Whitinger...... 114 South Franklin Street, Muncie, Ind. Wallace W. Willard...... 15 Lewis Street, Hartford 3, Conn. Frederick H. Woodward...... 520 Luhrs Bldg., Phoenix, Ariz.

TECHNICAL SESSIONS Ralph S. Johns, Chairman...... 141 West Jackson Blvd., Chicago 4, Ill. Richard S. Claire...... 120 South LaSalle Street, Chicago 3, Ill. James L. Cockburn, Jr...... 351 California Street, San Francisco 4, Calif. A. Henry Cuneo...... 700 National Fidelity Life Bldg., Kansas City 6, Mo. G. M. Hatfield...... 219 Highland Park, Greenwood, S. C. Irving Richardson...... 1 North LaSalle Street, Chicago 2, Ill. Robert H. Taylor...... 2209 Second Natl. Bank Bldg., Houston 2, Tex. Robert I. Williams...... 50 Broadway, New York 4, N. Y. TERMINOLOGY F. B. Andrews, Chairman...... 1 North LaSalle Street, Chicago 2, Ill. John W. Queenan...... 67 Broad Street, New York 4, N. Y. C. Aubrey Smith...... 109 Waggoner Hall, University of Texas, Austin 12, Tex. WAGES AND HOURS Frank J. Donohue, Chairman...... 67 Broad Street, New York 4, N. Y. Benjamin Goldenberg...... 12 South 12th Street, Philadelphia, Pa. Raymond J. Hannon...... 18 First Street, Troy, New York Leonard B. Johnson...... 157 Church Street, New Haven, Conn. Ernest O. Lothrop...... 56 Pine Street, New York 5, N. Y. Harold I. Schlenker...... 90 Broad Street, New York 4, N. Y. Marshall M. Thomas...... 744 Broad Street, Newark 2, N. J. 30 American Institute of Accountants

TRIAL BOARD AMERICAN INSTITUTE OF ACCOUNTANTS For three years

William J. Carter...... 800 Peachtree Bldg., Atlanta 3, Ga. Roy C. Comer...... Dexter Horton Bldg., Seattle 4, Wash. John J. McIsaac...... 60 State Street, Boston 9, Mass. Maurice E. Peloubet...... 25 Broadway, New York 4, N. Y. Prior Sinclair...... 90 Broad Street, New York 4, N. Y. William R. Winn . . 306 Williamsport National Bank Bldg., Williamsport 8, Pa. John H. Zebley, Jr...... 1622 Chestnut Street, Philadelphia 3, Pa.

For two years

J. William Hope, Chairman...... 886 Main Street, Bridgeport 3, Conn. George D. Bailey...... 1380 National Bank Bldg., Detroit 26, Mich. Clifford V. Heimbucher...... 220 Bush Street, San Francisco 4, Calif. George S. Olive...... 528 Chamber of Commerce Bldg., Indianapolis 4, Ind. J. Harold Stewart...... 50 State Street, Boston 9, Mass. Virgil S. Tilly...... 410 National Bank of Tulsa Bldg., Tulsa 3, Okla. C. Oliver Wellington...... 111 Broadway, New York 6, N. Y.

For one year

William M. Black...... 70 Pine Street, New York 5, N. Y. Percival F. Brundage...... 56 Pine Street, New York 5, N. Y. Clem W. Collins...... 333 First National Bank Bldg., Denver 2, Colo. Arthur B. Foye...... 67Broad Street, New York 4, N. Y. James W. Hickey...... 750 Main Street, Hartford 3, Conn. J. A. Phillips...... 1809 Second National Bank Bldg., Houston 2, Texas Edward B. Wilcox...... 120 South LaSalle Street, Chicago 3, Ill.

AMERICAN INSTITUTE OF ACCOUNTANTS INSURANCE TRUST Insurance Committee

Prior Sinclair, Chairman...... 90 Broad Street, New York 4, N. Y. Simon Loeb...... 501 Fifth Avenue, New York 17, N. Y. Maurice E. Peloubet...... 25 Broadway, New York 4, N. Y.

Trustee

The Hanover Bank...... 70 Broadway, New York 15, N. Y. American Institute of Accountants Foundation 31

AMERICAN INSTITUTE OF ACCOUNTANTS FOUNDATION

Officers and Board of Trustees

J. A. Phillips, President.... 1809 Second National Bank Bldg., Houston 2, Tex. Samuel W. Eskew, Vice President Kentucky Home Life Bldg., Louisville 2, Ky. Harold R. Caffyn, Treasurer...... 43 Broad Street, New York 4, N. Y. John L. Carey, Secretary...... 270 Madison Avenue, New York 16, N. Y. T. Coleman Andrews...... 915 American Bldg., Richmond 6, Va. William M. Black...... 70 Pine Street, New York 5, N. Y. Roy C. Comer...... Dexter Horton Bldg., Seattle 4, Wash. J. William Hope...... 886 Main Street, Bridgeport 3, Conn.

AMERICAN INSTITUTE BENEVOLENT FUND, INC.

Officers and Board of Trustees

C. Oliver Wellington, President...... 111 Broadway, New York 6, N. Y. Harold R. Caffyn, Treasurer...... 43 Broad Street, New York 4, N. Y. John L. Carey, Secretary...... 270 Madison Avenue, New York 16, N. Y. Samuel J. Broad...... 70 Pine Street, New York 5, N. Y. Percival F. Brundage...... 56 Pine Street, New York 5, N. Y. Norman Loyall McLaren...... 155 Montgomery Street, San Francisco 4, Calif. George S. Olive...... 528 Chamber of Commerce Bldg., Indianapolis 4, Ind.

AMERICAN INSTITUTE OF ACCOUNTANTS STAFF ORGANIZATION

John L. Carey...... Executive Director Elizabeth Arliss...... Assistant to Executive Director Carman G. Blough...... Director of Research Richard C. Lytle ...... Assistant to the Director Charles E. Sigety...... Assistant to Tax Committee William H. Hird...... Controller James D. Bennett...... Purchasing Agent Robert L. Kane, Jr...... Educational Director Miriam W. Donnelly ...... Librarian Charles E. Noyes...... Director of Public Relations John L. Lawler...... Director of State Society and Membership Services William S. Papworth...... Director of Publications H. T. Winton...... Administrative Secretary

THE JOURNAL OF ACCOUNTANCY

John L. Carey...... Editor William S. Papworth...... Managing Editor Will Long...... Assistant Editor S. L. Mason...... Advertising Manager Mitchell Gresser...... Circulation Manager State Boards of Accountancy (At November 19, 1952)

ALABAMA STATE BOARD OF PUBLIC ACCOUNTANCY Francis B. Latady, CPA, Chairman . .935-938 Brown-Marx Bldg., Birmingham 3 H. C. Crane, CPA, Member...... 411 Shepherd Bldg., Montgomery 4 George D. King, CPA, Member...... 1050 Forrest Avenue, Gadsden *W. Paul Thomas, CPA, Secretary-Treasurer...... P. O. Box 1627, University *Not a member of the Alabama State Board. ALASKA TERRITORIAL BOARD OF PUBLIC ACCOUNTANCY Marshall Crutcher, CPA, President...... P. O. Box A-8, Kodiak Elmer G. Johnson, CPA, Secretary...... P. O. Box 1969, Ketchikan Charles M. Marler, Treasurer...... P. O. Box 1532, Ketchikan Joseph A. Boulet...... P. O. Box 607, Fairbanks Clayton Esslinger...... P. O. Box 215, Palmer

ARIZONA STATE BOARD OF ACCOUNTANCY Oliver C. Stallings, CPA, President...... 304 Arizona Title Bldg., Phoenix Max A. Millet, CPA, Secretary...... 709 Security Bldg., Phoenix Carl D. Tisor, CPA, Treasurer...... 500 Title & Trust Bldg., Phoenix Francis L. Decker, CPA, Member...... P. O. Box 28, Flagstaff E. G. Rawlins, CPA, Member...... P. O. Box 472, Ajo

ARKANSAS STATE BOARD OF ACCOUNTANCY Cal P. Hollis, CPA, President...... 203 Simmons National Bldg., Pine Bluff L. R. Moffett, CPA, Secretary...... 503 Rectory Bldg., Little Rock Peter E. Stanley, CPA, Treasurer...... Pyramid Bldg., Little Rock

CALIFORNIA STATE BOARD OF ACCOUNTANCY Ira N. Frisbee, CPA, President. . .9470 Santa Monica Boulevard, Beverly Hills Carl M. Esenoff, CPA, Vice President...... 1007 Fifth Street, San Diego 1 Glen H. Whalen, CPA, Secretary...... 25 Taylor Street, San Francisco 2 George O. Carlson, CPA...... 510 South Spring Street, Los Angeles 13 Charles C. Cobun, CPA...... 315 West 9th Street, Los Angeles 15 Walter G. Draewell, CPA...... 100 Bush Street, San Francisco 4 Francis P. Farquhar, CPA...... 220 Bush Street, San Francisco 4 Paul K. Webster, CPA...... Alexander Bldg., San Francisco 4

COLORADO STATE BOARD OF ACCOUNTANCY F. Tillman Brownne, CPA, President C. Boyd Neville, CPA, Secretary Paul L. Schmitz, CPA, Treasurer Note: All correspondence should be addressed to the Secretary at: 901 Majestic Bldg., Denver,

32 State Boards of Accountancy 33

CONNECTICUT STATE BOARD OF ACCOUNTANCY J. C. McNab, CPA, President Daniel G. Weinstein, CPA, Secretary Richard J. Barry, CPA, Treasurer Note: All correspondence should be addressed to the Secretary at: 185 Church Street, New Haven 10. DELAWARE STATE BOARD OF ACCOUNTANCY T. Crawley Davis, CPA, President...... Room 9022, DuPont Bldg., Wilmington Charles I. Belfint, CPA, Secretary. . . .400 North American Bldg., Wilmington Harry E. Deppert, CPA...... 12th & Tatnall Streets, Wilmington Joseph I. Haggerty, CPA...... 1011 Washington Street, Wilmington Harold Leshem, Attorney-at-Law...... 509 North American Bldg., Wilmington DISTRICT OF COLUMBIA BOARD OF ACCOUNTANCY Simon W. Levitan, CPA, President...... 610 Bond Bldg. Henry S. Owens, CPA, Secretary...... 1028 Connecticut Avenue, N. W. Henry A. O’Neill, CPA, Treasurer...... 517 Metropolitan Bank Bldg. FLORIDA STATE BOARD OF ACCOUNTANCY Harry Blumin, CPA, Chairman...... 420 Lincoln Road, Miami Beach George W. Dandelake, CPA, Secretary...... 921 S. Waterman Road, Jacksonville Miss Elizabeth Shields, Executive Secretary, . . . .831 duPont Bldg., Miami Charles C. Colley, Jr., CPA, Member. . .14 East Washington Street, Orlando Prim W. Fisher, CPA, Member...... 10th Floor, Schultz Bldg., Jacksonville Joseph A. Sweeny, CPA, Member...... Route 1, Box 295, Lutz GEORGIA STATE BOARD OF ACCOUNTANCY Victor Markwalter, CPA, Chairman...... Southern Finance Bldg., Augusta M. H. Barnes, CPA, Vice Chairman. 1018 Citizens & Southern Bank Bldg., Atlanta C. R. Bush, CPA, Member...... P. O. Box 428, Macon W. W. Stribling, CPA ...... William Oliver Bldg., Atlanta C. V. Stanton, Attorney Member...... Waycross R. C. Coleman, Joint Secy. . State Examining Boards, 111 State Capitol, Atlanta HAWAII TERRITORIAL BOARD OF ACCOUNTANCY Harry A. Hanson, CPA, President. P. O. Box 380, Dillingham Bldg., Honolulu, 9 Ernest R. Cameron, CPA, Secretary. . . Suite 306, Bishop Trust Bldg., P. O. Box 3556, Honolulu 11 Theodore Con Hin Char, CPA, Treasurer. Suite 2-B, James Campbell Bldg., Honolulu Hideo Kajikawa, CPA...... 657 Kapiolani Boulevard, Honolulu Hugh C. Tennent, CPA...... P.O. Box 3556, Bishop Trust Bldg., Honolulu 11 IDAHO Department of Law Enforcement Wayne Summers, Commissioner...... State House, Boise Britt Nedry, Director...... Occupational License Bureau, State House, Boise State Examining Board for Certified Public Accountants Willard J. Wilde, CPA...... c/o University of Idaho, Moscow Max W. Humpherys, CPA...... 219 Earl Bldg., Idaho Falls James F. Butler, CPA...... Continental Bank Bldg., Boise 34 American Institute of Accountants

ILLINOIS University Committee on Accountancy William Everett Britton, A.M., J.D., Chairman...... Urbana George Philip Tuttle, B.S., Secretary...... Urbana Horace M. Gray, Ph.D...... Urbana Donald A. Grossman, LLB, Clerk...... Urbana

Board of Examiners in Accountancy Charles R. Miller, CPA, Chairman...... 1 North LaSalle Street, Chicago Louis Kessler, CPA, Secretary...... 1 North LaSalle Street, Chicago James A. Velde, A.B., LLB...... First National Bank Bldg., Chicago

INDIANA STATE BOARD OF CERTIFIED ACCOUNTANTS D. Lyle Dieterle, CPA, President...... Indiana University, Bloomington Ida S. Broo, CPA...... Indiana Trust Bldg., Indianapolis John D. Harrington, CPA. . .528 Chamber of Commerce Bldg., Indianapolis 4 Thomas M. Hindman, Deputy State Examiner, Secretary...... 304 State House, Indianapolis Edward A. Cooper, Deputy State. Examiner, Treasurer...... 304 State House, Indianapolis IOWA BOARD OF ACCOUNTANCY A. A. Augustine, CPA, Chairman...... 524 Securities Bldg., Des Moines G. B. Knobbe, CPA,Secretary-Treasurer . .1010 Savings & Loan Bldg., Des Moines E. S. Gage, Jr., CPA, Member...... 725 Brick & Tile Bldg., Mason City

KANSAS STATE BOARD OF ACCOUNTANCY John P. Boni camp, CPA, Chairman. . . .1420 Union National Bank Bldg., Wichita George W. Sinderson, CPA, Vice-Chairman...... 475 New Brotherhood Bldg., Kansas City Howard F. Stettler, CPA, Secretary...... 2 Strong Hall, University of Kansas, Lawrence Ross D. Hogue, CPA, Member...... First National Bank Bldg., Dodge City C. L. Paxson, CPA, Member...... 506 Columbian Bldg., Topeka Ivan M. West, CPA, Member...... 918 Central Bldg., Wichita

KENTUCKY STATE BOARD OF ACCOUNTANCY Albert Christen, CPA, President...... Kentucky Home Life Bldg., Louisville 2 L. C. J. Yeager, CPA, Secretary...... Kentucky Home Life Bldg., Louisville 2 J. O. Boswell, CPA, Treasurer...... Holland Bldg., Owensboro *Stollings De Journett, Exec. Secy. . . .Kentucky Home Life Bldg., Louisville 2 *Not a member of the board, but the retained Executive Secretary. LOUISIANA STATE BOARD OF CERTIFIED PUBLIC ACCOUNTANTS Edward J. DeVerges, CPA, President...... 720 Whitney Bldg., New Orleans 12 William G. Aly, CPA, Secretary...... 1130-A Whitney Bldg., New Orleans 12 George S. Rapier, CPA, Treasurer. .1127 Hibernia Bank Bldg., New Orleans 12 Lionel A. Champagne, CPA, Member...... 305 Guaranty Income Life Bldg. Baton Rouge Dwight E. Saur, CPA, Member...... P. O. Box 1192, Shreveport State Boards of Accountancy 35

MAINE BOARD OF ACCOUNTANCY William D. Hayes, CPA, Chairman...... Box 864, Bangor Richard M. Millet, CPA, Secretary...... 465 Congress Street, Portland 3 Harvard W. Blaisdell ...... Ellsworth

MARYLAND BOARD OF EXAMINERS OF PUBLIC ACCOUNTANTS Edward J. Stegman, CPA, Chairman. .1208 Mercantile Trust Bldg., Baltimore 2 J. Wallace Bryan, CPA, Ph.D., Secretary-Treasurer. . . .1101 Mercantile Trust Bldg., Baltimore 2 George H. Bald, CPA...... Mathieson Bldg., Baltimore 2 W. Frank Every, LL.B...... 1134 Mathieson Bldg., Baltimore 2 William O. Weyforth, Ph.D...... 104 Thicket Road, Baltimore 12

MASSACHUSETTS BOARD OF REGISTRATION OF CPAs Francis P. Kirk, CPA, Chairman...... 111 Devonshire Street, Boston Laurence P. Harrington, CPA, Secretary...... 27 State Street, Boston Max Freedman, CPA...... 159 Devonshire Street, Boston William E. Hayes, CPA...... 199 Washington Street, Boston Anthony F. Kearney, CPA,...... 60 State Street, Boston

MICHIGAN STATE BOARD OF ACCOUNTANCY Morris M. Berman, CPA, Chairman David P. Zack, CPA, Vice-Chairman James C. Finney, CPA, Secretary Edgar W. Pugh, Counsel G. Mennen Williams, Governor Note: AH correspondence should be addressed to: 411 Boulevard Bldg., 7310 Woodward Avenue, Detroit 2, Michigan.

MINNESOTA STATE BOARD OF ACCOUNTANCY Lawrence R. Graving, CPA, Chairman...... 604 Lonsdale Bldg., Duluth Roman R. Sevenich, CPA, Vice-Chairman...... Foshay Tower, Minneapolis Edwin L. Pearson, CPA, Secretary-Treasurer. .2515 Foshay Tower, Minneapolis

MISSISSIPPI STATE BOARD OF PUBLIC ACCOUNTANCY Fred T. Neely, CPA, Chairman...... P. O. Box 894, Greenwood W. B. Roberts, CPA, Vice-Chairman...... 310 Bank of Gulfport Bldg., Gulfport Louis A. Miazza, CPA, Secretary...... P. O. Box 65, Jackson 5

MISSOURI STATE BOARD OF ACCOUNTANCY Thomas J. Cusack, CPA, President...... 207 W. Fourth Street, Joplin Thomas M. Keyes, CPA, Vice-President...... 900 Walnut Street, Kansas City 6 Walter E. Braeckel, CPA, Treasurer. . 320 North Fourth Street, St. Louis 2 Paul A. Williams, CPA, Secretary...... 14A North Ninth Street, Columbia Harry L. Stover, CPA, Member ...... 1012 Baltimore Avenue, Kansas City 5 Ruth Calhoun, Executive Assistant...... 209 Monroe Street, Jefferson City 36 American Institute of Accountants

MONTANA STATE BOARD OF EXAMINERS IN ACCOUNTANCY Alfred J. Rowland, CPA, Chairman...... Masonic Temple, Miles City Conrad T. Bjornlie, LL.B., CPA, Secretary...... 506 Strain Bldg., Great Falls William B. Finlay, Jr., CPA...... First National Bank Bldg., Great Falls

NEBRASKA STATE BOARD OF EXAMINERS Oscar R. Martin, CPA, Chairman...... 508 First National Bank Bldg., Lincoln John P. Begley, CPA, Secretary-Treasurer. . . Creighton University, Omaha 2 Ray C. Johnson, Auditor of Public Accounts ...... State Capitol, Lincoln

NEVADA STATE BOARD OF ACCOUNTANCY L. J. Semenza, CPA, President...... Box 30, Reno A. W. Blackman, CPA, Vice-President...... P. O. Box 151, Las Vegas W. B. Kottinger, CPA, Secretary...... Box 30, Reno

NEW HAMPSHIRE BOARD OF ACCOUNTANCY James F. Dwyer, CPA, Chairman. . . Int. Rev. Service, Federal Bldg., Manchester Donald J. Henderson, CPA, Secretary-Treasurer. . .71 West Pearl Street, Nashua Louis Spector, CPA...... 875 Elm Street, Manchester

NEW JERSEY STATE BOARD OF PUBLIC ACCOUNTANTS Abraham H. Puder, CPA, President...... 60 Park Place, Newark Joseph Thieberg, CPA, Vice-President...... 64 Hamilton Street, Paterson Joseph J. Seaman, CPA, Secretary...... 214 Smith Street, Perth Amboy

NEW MEXICO STATE BOARD OF PUBLIC ACCOUNTANCY Stephen J. Gasparich, CPA, Chairman...... P. O. Box 187, Raton E. Frank Adams, RPA, Vice-Chairman...... P. O. Box 831, Las Cruces John K. Reindorp, CPA, Secretary-Treasurer. .601 Sunshine Bldg., Albuquerque Darwin Sprouls, CPA ...... P. O. Box 502, Clovis H. Albert Ward, RPA...... P. O. Box 1617, Santa Fe

NEW YORK BOARD OF CERTIFIED PUBLIC ACCOUNTANT EXAMINERS Joseph I. Lubin, CPA, Chairman Eisner & Lubin, 521 Fifth Avenue, New York 17 Alden C. Smith, CPA, Vice-Chairman...... 56 Pine Street, New York 5 Ira A. Schur, CPA, Secretary...... 125 Park Avenue, New York 17 Winfield McKeon, CPA...... 12 East 41st Street, New York 17 Everett J. Penny, CPA,...... 31 Mamaroneck Avenue, White Plains Howard Schwartz, CPA,...... University Bldg., Syracuse Carl D. Thomy, CPA...... 1416 Temple Bldg., Rochester 4 John R. Wilkinson, CPA, Executive Secretary. .23 South Pearl Street, Albany 2

N. C. STATE BOARD OF CERTIFIED PUBLIC ACCOUNTANT EXAMINERS Gustaf C. Lundin, CPA, President...... State Bank Bldg., Laurinburg A. T. Allen, CPA, Vice-President...... P. O. Box 1266, Raleigh Frank P. Buck, CPA, Secretary-Treasurer...... Drawer 1327, Salisbury Allen E. Strang, CPA, Member...... Southeastern Bldg., Greensboro R. R. Rains, Administrative Assistant...... Box 1247, Chapel Hill State Boards of Accountancy 37

NORTH DAKOTA STATE BOARD OF ACCOUNTANCY O. A. Eide, CPA, President...... Box 773, Fargo R. D. Koppenhaver, CPA, Secretary-Treasurer...... U. of N. D., Grand Forks Carl Person, CPA...... Missouri Valley Motor Bldg., Bismarck ACCOUNTANCY BOARD OF OHIO Charles E. Uebel, CPA, President...... 1530 B. F. Keith Bldg., Cleveland 15 James N. Buccalo, CPA, Secretary-Treasurer. .33 North High Street, Columbus 15 Robert L. Bender, CPA, Member...... 1356 Union Commerce Bldg., Cleveland 14 Berl G. Graham, CPA, Member. . 807 Federal Reserve Bank Bldg., Cincinnati 2 Robert J. Kirk, CPA, Member...... 1600 Toledo Trust Bldg., Toledo 4 OKLAHOMA STATE BOARD OF ACCOUNTANCY Ross T. Warner, CPA, Chairman...... 1120 First National Bldg., Tulsa B. F. Harrison, CPA, Secretary...... Oklahoma A. & M. College, Stillwater Ford L. Billups, CPA...... 1349 First National Bldg., Oklahoma City Lawrence D. Hinman, CPA...... Box 106, Enid Kenneth Hurst, CPA...... 2220 First National Bldg., Oklahoma City OREGON STATE BOARD OF ACCOUNTANCY Charles E. Rawlinson, CPA, Chairman. 1410 American Bank Bldg., Portland 5 Floyd K. Bowers, CPA, Vice-Chairman...... 315 Pioneer Trust Bldg., Salem William H. Holm, CPA, Secretary-Treasurer...... 414 Book Bldg., Portland Percy W. Brown, CPA, Member .... 257 Eugene Medical Center Bldg., Eugene Ralph B. Stratford, CPA, Member ...... 636 Pacific Bldg., Portland 4 PENNSYLVANIA STATE BOARD OF EXAMINERS OF PUBLIC ACCOUNTANTS George R. Drabenstadt, CPA, Chairman. . . .2101 Packard Bldg., Philadelphia 2 Wilhelm E. Shissler, Esq., Secretary...... Bergner Bldg., Harrisburg M. C. Conick, CPA...... First National Bank Bldg., Pittsburgh 22 Dr. Francis B. Haas, Superintendent of Public Instruction, ex-officio. Harrisburg PUERTO RICO BOARD OF EXAMINERS IN ACCOUNTANCY Pedro R. Ramirez, CPA, President...... P. O. Box 4936, San Juan Luis Cueto Coll, Administrative Secretary...... P. O. Box 9156, Santurce Pedro E. Purcell, CPA...... P. 0. Box 1263, San Juan Sr. Luis Haim Alfau, CPA...... P. 0. Box 886, Ponce Sr. Alejandro Vazquez, CPA...... P. O. Box 1388, San Juan Sr. Jaime A. Montoya, CPA...... P. O. Box 8213, Santurce RHODE ISLAND BOARD OF ACCOUNTANCY Seth B. Gifford, CPA, Chairman...... 911 Hospital Trust Bldg., Providence George T. Helm, CPA, Secretary...... 1210 Union Trust Bldg., Providence Edward Blackman, CPA, Treasurer. . . .1209 Industrial Trust Bldg., Providence SOUTH CAROLINA BOARD OF EXAMINERS OF PUBLIC ACCOUNTANTS M. C. Patten, CPA, President...... 7 Pendleton Street, Greenville C. C. McGregor, CPA, Vice-President. .1316 Washington Street, P. O. Box 135, Columbia W. J. Stubbs, Jr., CPA, Secretary-Treasurer ...... 1226 Sumter Street, Columbia 38 American Institute of Accountants

SOUTH DAKOTA STATE BOARD OF CCOUNTANCYA Harry E. Olson, CPA, President...... Vermillion John Penne, Vice-President...... Comptroller, State of South Dakota, Pierre John W. Sorensen, CPA, Secretary...... 107 East 11th Street, Sioux Falls

TENNESSEE STATE BOARD OF ACCOUNTANCY Glenn R. Kleinau, CPA, President...... 2006 McCallie Avenue, Chattanooga P. K. Seidman, CPA, Vice-President...... Farnsworth Bldg., Memphis D. H. Hirsberg, CPA, Secretary...... 410 Sudekum Bldg., Nashville W. Ben Davis, CPA, Member...... 412 Empire Bldg., Knoxville J. George Griesbeck, CPA, Member..607 Union Planters Natl. Bk. Bldg., Memphis Thomas M. McIntyre, CPA...... Third National Bank Bldg., Nashville Fred S. Powell, Attorney Member...... Nashville Trust Bldg., Nashville

TEXAS STATE BOARD OF PUBLIC ACCOUNTANCY J. A. Phillips, CPA, Chairman.. . . 1809 Second National Bank Bldg., Houston 2 O. H. Maschek, CPA, Secretary-Treasurer...... 920 Goodhue Bldg., Beaumont Miss Pauline Thomas, Assistant to the Secretary. . The Perry-Brooks Bldg., Austin C. A. Freeze, CPA, Member...... Central National Bank Bldg., San Angelo B. S. Mothershead, CPA, Member...... 113 East Harrison Street, Harlingen Hatcher A. Pickens, CPA, Member...... Fair Bldg., Fort Worth Charles B. Hagans, PA, Member...... Muckleroy Bldg., Nacogdoches Blake Lancaster, PA, Member...... 410 Houston Bldg., San Antonio L. E. Tennison, PA, Member...... 211 West 5th Street, Clifton Milton E. West, PA, Member...... P. O. Drawer 717, Lubbock

UTAH Department of Business Regulation Lynn E. Baxter, CPA...... 408 Kearns Bldg., Salt Lake City 1 J. Percy Goddard, CPA...... 527 Phillips Petroleum Bldg., Salt Lake City 1 Lincoln G. Kelly, CPA...... 608 Walker Bank Bldg., Salt Lake City 1

Registration Division Frank A. Yeamans, Secretary...... 314 State Capitol, Salt Lake City 1 Frank E. Lees, Director...... 324 State Capitol, Salt Lake City 1

VERMONT STATE BOARD OF ACCOUNTANCY Archibald M. Peisch, CPA, Chairman...... Norwich Seth A. Densmore, CPA, Secretary...... 118A College Street, Burlington Ralph C. Kendrick, CPA...... 150 Cherry Street, Burlington

VIRGIN ISLAND BOARD OF EXAMINERS OF ACCOUNTANTS Hein Christensen, Chairman...... Charlotte Amalie, St. Thomas E. A. Gomez, Secretary...... Charlotte Amalie, St. Thomas D. Victor Bornn...... Charlotte Amalie, St. Thomas State Boards of Accountancy 39

VIRGINIA STATE BOARD OF ACCOUNTANCY A. Frank Stewart, CPA, Chairman...... State Planters Bank Bldg., Richmond Samuel H. Baker, Jr., CPA...... Travelers Bldg., Richmond Turner N. Burton, Director...... Dept. of Prof. & Occupational Registration, Finance Bldg., Richmond William S. Gay, CPA...... P. O. Box 36, Blacksburg R. L. Persinger, CPA...... Rooklin Bldg., Covington Donald T. Stant...... Reynolds Arcade Bldg., Bristol

WASHINGTON STATE BOARD OF ACCOUNTANCY Roy C. Comer, CPA, Chairman...... 1112 Smith Tower, Seattle J. R. Randall, CPA, Vice-Chairman...... 501 Peyton Bldg., Spokane Thomas R. Toole, LPA, Secretary...... 604 Empire State Bldg., Spokane Bert W. Lockhart, CPA, Member...... 1610 Textile Tower, Seattle Stuart Bryan, LPA, Member...... 39½ Broadway, Tacoma

WEST VIRGINIA BOARD OF CERTIFIED PUBLIC ACCOUNTANTS R. E. Witschey, CPA, President...... P. O. Box 129, Charleston 21 Okey K. Hayslip, CPA, Secretary...... P. O. Box 1642, Huntington 19 M. F. Kirsch, CPA...... Dalmar Bldg., Morgantown

WISCONSIN STATE BOARD OF ACCOUNTANCY Lamont E. Fonteine, CPA, President. . . .225 East Michigan Street, Milwaukee 2 John H. Evans, CPA, Vice-President...... Northern Bldg., Green Bay John L. Sonderegger, CPA, Secretary...... 1000 State Office Bldg., Madison

WYOMING STATE BOARD OF ACCOUNTANCY A. H. MacDougald, CPA, President...... Rawlins C. B. Coolidge, CPA, Vice-President...... 1902 Thomes, Cheyenne Gordon J. Raab, CPA, Secretary...... 211 Con Roy Bldg., Casper

ASSOCIATION OF CERTIFIED PUBLIC ACCOUNTANT EXAMINERS* Officers

President. A. Frank Stewart, 1102 State-Planters Bank Bldg., Richmond 10, Va. First vice president. . . .Lincoln G. Kelly, 603 Walker Bank Bldg., Salt Lake City 1, Utah Second vice president...... Everett J. Penny, 31 Mamaroneck Avenue, White Plains, N. Y. Sec’y-treas...... Daniel P. Williams, 1807 Boatmens Bank Bldg., St. Louis 2, Mo. * Membership includes all present and past members of state boards of accountancy and Institute board of examiners. State Societies of CPAs

Alabama Society of CPAs * Georgia Society of CPAs Chris H. King, Secretary Lyle E. Campbell, Secretary 1304 Empire Bldg. P. O. Box 397 Birmingham 3, Ala. Emory University, Ga.

*Arizona Society of CPAs Idaho Society of CPAs Benard R. McMorris, Exec. Dir. John M. Dahl, Secretary 642 Security Bldg. 3426 Meadow Drive Phoenix, Ariz. Boise, Idaho

*Arkansas Society of CPAs Julian B. Priddy, Secretary *Illinois Society of CPAs Wallace Bldg. Miss Jeannette M. Cochrane, Executive Little Rock, Ark. Secretary Room 1006, 208 South LaSalle Street Chicago 4, Ill. * California Society of CPAs Arthur M. Sargent, Exec. Dir. Room 249, 681 Market Street *Indiana Association of CPAs San Francisco 5, Calif. Roy W. Steele, Executive Secretary 1602 Merchants Bank Bldg. Indianapolis 4, Ind. Colorado Society of CPAs Robert A. Knecht, Secretary 910 U. S. National Bank Bldg. Iowa Society of CPAs Denver 2, Colo. George A. Stephenson, Secretary Fidelity Savings Bank Bldg. Ottumwa, Iowa *Connecticut Society of CPAs Frederick F. Fischer, Secretary Room 807-808, 185 Church Street *Kansas Society of CPAs New Haven 10, Conn. Keith Weltmer, Executive Secretary School of Business University of Kansas Delaware Society of CPAs Lawrence, Kans. Mrs. Alice H. Haggerty, Secretary 1011 Washington Street Wilmington, Del. *Kentucky Society of CPAs Stollings Dejournett, Executive Secretary Room 910-911, Kentucky Home Life Bldg. District of Columbia Institute of CPAs Louisville 2, Ky. F. Merrill Salter, Secretary 408 Wyatt Bldg. Washington, D. C. Society of Louisiana CPAs Dwight M. Brown, Secretary 427 Ricou-Brewster Bldg. *Florida Institute of CPAs Shreveport, La. Clifford C. Beasley, Managing Dir. Box 2433, University Station Gainesville, Fla. Maine Society of Public Accountants Harry W. Lally, Secretary 114 Maine Street * Permanent Address. Brunswick, Maine

40 State Societies of Certified Public Accountants 41

*Maryland Association of CPAs New Hampshire Society of CPAs George S. Robertson, Adm. Secretary Raymond L. Houde, Secretary 1508 Fidelity Bldg. 215A Main Street Baltimore 1, Md. Nashua, N. H.

*Massachusetts Society of CPAs *New Jersey Society of CPAs Mrs. Ruth M. Welton, Asst. Secretary Miss Emilia Zirkelback, Adm. Assistant Room 1204, 80 Federal Street Boston 10, Mass. Room 1204, 744 Broad Street Newark 2, N. J.

*Michigan Association of CPAs Hiram P. Todd, Jr., Executive Secretary New Mexico Society of CPAs 2124 Dime Bldg. S. J. Arnold, Secretary Detroit 26, Mich. El Morro Bldg. Gallup, N. M. *Minnesota Society of CPAs Miss Lillian K. Polzin, Adm. Secretary *New York State Society of CPAs 1750 Hennepin Ave. at Groveland Terrace Wentworth F. Gantt, Executive Secretary Minneapolis 3, Minn. 677 Fifth Avenue New York 22, N. Y. Mississippi Society of CPAs Charles W. Caldwell, Secretary P. O. Box 241 *North Carolina Association of CPAs Natchez, Miss. Raymond R. Rains, Executive Secretary P. O. Box 1193 Chapel Hill, N. C. *Missouri Society of CPAs Mrs. Mary Mueller, Adm. Secretary 125 East High Street North Dakota Society of CPAs Jefferson City, Mo. R. D. Koppenhaver, Secretary 504 Hamline Montana Society of CPAs Grand Forks, N. D. Donald J. Emblen, Secretary 504 Blaine Street Missoula, Mont. *Ohio Society of CPAs Robert R. Bangham, Executive Secretary Huntington Bank Bldg. Nebraska Society of CPAs Columbus 15, Ohio Robert F. Henderson, Secretary Lincoln School of Commerce 209 North 14th Street Lincoln, Nebr. Oklahoma Society of CPAs Miss Corinne Childs, Secretary 432 Kennedy Bldg. Nevada Society of CPAs Tulsa 3, Okla. Murland E. Newbold, Secretary 10 West 2nd Street Reno, Nevada Oregon Society of CPAs Norman E. Swanson, Secretary 471 Pittock Block * Permanent Address. Portland 5, Ore. 42 American Institute of Accountants

*Pennsylvania Institute of CPAs *Virginia Society of Public Accountants F. Willard Heintzelman, Adm. Director F. Byers Miller, Executive Secretary 619 Land Title Bldg. University of Richmond Philadelphia 10, Pa. Richmond, Va.

Rhode Island Society of CPAs *Washington Society of CPAs Richard W. A. Taylor, Secretary Miss Nellie J. Marks, Asst. Secretary 146 Westminster Street 1618 Northern Life Tower Providence 3, R. I. Seattle 1, Wash.

*South Carolina Association of CPAs Joseph E. Whitmire, Executive Secretary West Virginia Society of CPAs P. O. Box 671 Mendel Schwartz, Secretary Columbia, S. C. North Bldg. 1029 Virginia Street, East Charleston, W. Va. South Dakota Society of CPAs Harry E. Olson, Secretary University of South Carolina. . *Wisconsin Society of CPAs Vermillion, S. D. Miss Camilla L. Ebert, Adm. Assistant Room 401, 152 West Wisconsin Avenue Milwaukee 3, Wis. Tennessee Society of CPAs Herman D. Bradley, Secretary 1018 Third National Bank Bldg. Nashville, Tenn. Wyoming Society of CPAs W. A. Cole, Secretary Box 244 Laramie, Wyo. *Texas Society of CPAs Thomas W. Leland, Secretary F. E. Box 267 College Station, Texas Hawaii Society of CPAs Frank H. Leman, Secretary P. O. Box 3853 Utah Association of CPAs Honolulu, Hawaii S. E. Newman, Secretary 519 Continental Bank Bldg. Salt Lake City, Utah *Puerto Rico Institute of Accountants Jose A. Velez Oliveras, Exec. Secretary P. O. Box 2165 Vermont Society of CPAs San Juan 10, P. R. Barney Z. Goldberg, Secretary 125 Church Street Burlington, Vt. Virgin Islands Society of CPAs Ezra Gomez, Secretary Charlotte Amalie *Permanent Address. St. Thomas, V. I. AMERICAN INSTITUTE OF ACCOUNTANTS Minutes of the Annual Meeting Houston, Texas October 7, 1952

he sixty-fifth annual meeting of B. F. Barnett, president of the Robert the American Institute of Accountants Morris Associates Tconvened at 9:50 A.M., October 7, 1952,Alan S. MacIver, secretary of The Insti at The Shamrock, Houston, Texas. J. tute of Chartered Accountants in Eng William Hope, president of the Institute, land and Wales presided. Edwin E. Leffler, representing the Office J. R. Jordan, president of the Texas of Price Stabilization Society of Certified Public Accountants, The chairman read a cablegram of gave an address of welcome which was greetings and good wishes from the acknowledged by the chairman. Council of The Society of Incorporated Accountants and Auditors which had The chairman introduced The Honora been unable to send one of its officers ble Oscar F. Holcombe, Mayor of Hous to attend the meeting. ton, who extended greetings to those A letter of greetings was read from present on behalf of the citizens of the F-M. Richard, president of the Paris- city of Houston. Chapter, Compagnie Nationale des Ex M. Jack Ferrell, vice president of The perts Comptables. Shamrock, was introduced by the chair The chairman introduced Roberto man. Mr. Ferrell welcomed those in at Casas Alatriste, past president of the tendance at the meeting and presented Instituto de Contadores Publicos Titulados a key to The Shamrock to Mr. Hope. de Mexico, who extended thanks on be Minutes of the annual meeting of Oc half of the Mexican Institute, to the tober 9, 1951, were approved as printed American Institute of Accountants for its and circulated to the membership. wholehearted support of the Second In The president read his report. ter-American Conference on Accounting, The chairman welcomed the following held in Mexico last year. Mr. Alatriste guests: also expressed thanks to members of the Lorn McLean, president of The Canadian profession from Canada who contributed Institute of Chartered Accountants. to the success of the Conference. Luis G. Pastor, president of the Instituto Ralph B. Mayo presented the report of de Contadores Publicos Titulados de council. Upon motion duly seconded, the Mexico report of council and all acts of council Earle C. King, Chief Accountant, Secur during the year were approved. ities and Exchange Commission Raymond J. Hannon summarized the Andrew Barr, Assistant Chief Accountant, report of the *auditors. On motion duly Securities and Exchange Commission seconded, the report was received. George R. Husband, president of the George O. Carlson, chairman of the American Accounting Association committee on awards, presented the fol Helen F. McGillicuddy, president of the lowing certificates of awards to two mem American Woman’s Society of Certified bers of the Institute in recognition for Public Accountants outstanding service to the accounting T. Jack Gary, Jr., president of the Fed profession: eral Government Accountants Associa *Published in “Annual Report of the American tion Institute of Accountants 1951-1952.” 44 American Institute of Accountants

Percival F. Brundage—For outstanding Phillips was declared duly elected. Mr. achievement in the service of the account Phillips was escorted to the platform and ing profession at great personal sacrifice expressed his thanks for the honor con of time and effort over a term of years; ferred upon him. for wise counsel and consistent action The following names offered by the contributing to the wider recognition of nominating committee for vice presidents the profession, and particularly for the were presented: qualities of leadership and diplomacy exercised in the promotion of good rela Thornton G. Douglas, California tions between the profession and other S. W. Eskew, Kentucky segments of the national economy. The Coleburke Lyons, Michigan accounting profession has greatly bene Mark E. Richardson, D. of C. fited from these services which richly merit this expression of appreciation and A motion was made and seconded that gratitude by the American Institute of the nominations be closed and that the Accountants. secretary cast one ballot for the candi Samuel J. Broad—For outstanding dates named. The motion carried, the achievement in the service of the account ballot was cast, and the members named ing profession over a long term of years, were declared elected. involving great sacrifice of time and Mr. Andrews announced that the com effort. Commencing in 1934 with service mittee on nominations proposed Harold on the committee on development of R. Caffyn, of New York, for treasurer. A accounting principles, Mr. Broad has led motion was made and seconded that the or participated continuously in the or nominations be closed and that the secre ganized development of the profession. tary cast one ballot for the election of By service of six years on the committee Mr. Caffyn as treasurer. The motion car on auditing procedure, five years on the ried, the ballot was cast, and Mr. Caffyn committee on accounting procedure, six was declared elected. years on relations with the Securities and The chairman of the nominating com Exchange Commission, by service on mittee presented the names of the follow numerous other committees, as president ing members proposed for members of of the Institute, as a member of council council: over the years, by his writing and public speaking on accounting subjects, Mr. Broad has exercised an influence on For council members at large accounting thought and on the advance (Three-year term) ment of the profession which merits this Marquis G. Eaton, Texas expression of high appreciation and grati George E. Perrin, North Carolina tude on behalf of the American Institute Paul K. Webster, California of Accountants. (Two-year term to fill a vacancy) The recipients acknowledged the pres J. S. Seidman, New York entations with deep appreciation. The chairman announced that the next order of business was election of officers For members of council and members of council for the ensuing (Three-year term) year. Upon request of the chairman, T. E. Ralph Cotham, Arkansas Coleman Andrews presented the report Ira N. Frisbee, California of the committee on nominations, propos James E. Hammond, California ing J. A. Phillips, of Texas, for president. Allen Redeker, Colorado It was moved that the nominations be Hugh C. Tennent, Hawaii closed and the secretary cast one ballot Harry P. Baumann, Illinois for the election of Mr. Phillips as pres Edward J. McDevitt, Massachusetts ident. The motion was seconded and Clarence B. Cox, Michigan carried, the ballot was cast, and Mr. Edwin W. Norberg, Minnesota Report of 1952 Annual Meeting 45

John J. Lang, Missouri The following were nominated: Roscoe L. Thomas, Montana J. H. Imig, Nebraska J. O. Dickinson, Pennsylvania Louis L. Siegel, New Jersey C. C. Gabrielson, California J. Bryan Stephenson, New Mexico John C. Martin, Ohio Maurice Austin, New York W. Kenneth Simpson, Kentucky Arthur B. Foye, New York Prior Sinclair, New York Leslie Mills, New York Maurice W. Powers, New York It was moved and seconded that the Frank L. Arnold, Ohio nominations be closed and that the secre George A. Hewitt, Pennsylvania tary cast one ballot for the election of Allen M. McRae, South Carolina those named. The motion carried, the Curtis H. Cadenhead, Texas ballot was cast, and the members named Clifton H. Morris, Texas were declared elected. Robert E. Witschey, West Virginia The chairman introduced T. B. Robson, president of The Institute of Chartered (Two-year term to fill vacancies) Accountants in England and Wales, who gave an address entitled “Some Present Ralph S. Johns, Illinois Day Aspects of Public Accountancy in Homer L. Luther, Texas the United Kingdom.”* The chairman thanked Mr. Robson for Mr. Andrews announced for the infor his highly informative paper. mation of those present that Allen M. Paul K. Webster moved adoption of McRae had been nominated by the com the following resolution, which upon mittee in place of J. W. Hunt, of South motion duly seconded was approved: Carolina, whose name was proposed in the report of the committee on nomina tions sent to the membership with the call Whereas , the members of the American to the annual meeting, since Mr. Hunt Institute of Accountants assembled in the had since indicated that he would be 65th annual meeting at Houston, Texas, have been received most cordially and graciously unable to serve. The chairman of the by the members of the Texas Society of nominating committee also announced Certified Public Accountants; and that the nominations proposed for vacan Whereas, the arrangements for professional cies on the council were made by the advancement, good fellowship and entertain committee as the result of the election ment have all been found to be particularly of the president and a vice president, excellent; and and the resignation of a member of Whereas, it has been amply demonstrated council who had moved to another state. that all of the Texas superlatives are fully It was moved and seconded that the justified; and nominations be closed and that the secre Whereas, even the climate has been found tary cast one ballot for the election of to be variable in order to suit all tastes; now, the council members named. The motion therefore be it was carried, the ballot was cast, and the Resolved, That the members of the Amer members named were declared elected. ican Institute of Accountants express their The chairman announced that the next deep appreciation to the members of the Texas Society of Certified Public Accountants order of business was election of five for their fine hospitality and for their untir members of the committee on nomina ing efforts in making this a meeting which tions for the current year, stating that will be pleasantly remembered by all of us. in accordance with the provisions of the by-laws, the council had elected J. Wil liam Hope, of Connecticut, and Virgil S. On motion duly seconded, the meeting Tilly, of Oklahoma, to serve on the adjourned sine die at 12:30 P.M. nominating committee, the first named to act as temporary chairman until the *Published in Better Accounting Through Pro committee elected a permanent chairman. fessional Development, pp. 11-26. 46 American Institute of Accountants

TECHNICAL SESSIONS November, 1951 First prize (gold medal) (tie)—Robert The committee on technical sessions, Ray Hudson, Jr., Silver Spring, under the chairmanship of Lincoln G. Maryland, and William Paul Rosen Kelly, arranged the following technical thal, Park Forest, Illinois sessions, the papers from which are pub May, 1952 lished in a separate pamphlet entitled First prize (gold medal)—Bruce K. Better Accounting Through Professional Nichols, Chicago, Illinois Development: Second prize (silver medal)—Clifford Ernest Graese, Minneapolis, Minne Monday, October 6th sota 10:30 A.M.—Technical Session Professional Accounting Training Honorable Mention Louis M. Kessler, Chairman 1. How Much Cultural Training Is November, 1951 Desirable?—Raymond E. Glos Eugene Theodore Schuler, Chicago, 2. How Much and What Type of Illinois; Victor Leo Viskas, Chicago, Technical Training Is Desirable?— Illinois; Donald Mayer Hochman, Samuel J. Duboff Los Angeles, California; Frank Fritz 3. Value of Internship Programs in Weinberg, Oakland, California Preparing Accountants for a Pro May, 1952 fessional Career—John C. Martin Mary Frances Hunter, Toledo, Ohio; 4. Training Juniors—Ira N. Frisbee Richard S. Antes, Chicago, Illinois; 12:30 P.M.—Luncheon for Members, John O. Blackburn, Miami, Florida; Ladies and Guests Jack W. Bullock, Chicago, Illinois; J. William Hope, Chairman David H. Kendall, San Francisco, Speaker: Honorable Allan Shivers (not California published) Reserve Board Policy Viewed in the 2:30 P.M.—Technical Session Light of Present Problems— Marriner S. Eccles Supervision of Audit Engagements 2:30 P.M.—Technical Session James I. Keller, Jr., Chairman 1. Planning of the Work and the Case Approach to Inventory Problems Supervisor’s Place in It—Weldon Gordon M. Hill, Chairman Powell 1. Testing Quantities and Values of 2. What the Supervisor Actually Does Work in Process—William D. as the Engagement Progresses—T. Sprague Dwight Williams 2. Tying in the Observation of Inven 3. The Procedure Followed by the tory Count with the Final Inventory Supervisor in Reviewing the Work Representations—Paul J. Adam ing Papers and the Report—A. 3. Can the Auditor Detect Misrepre Frank Stewart sentation of Quality?—John J. Mc Isaac Tuesday, October 7th 4. How Does a One-Office Firm Deal 9:30 A.M.—General Session with the Problem of Serving a Client Some Present Day Aspects of Public with Inventories in Distant Loca Accountancy in the United Kingdom tions?—Hatcher A. Pickens —T. B. Robson 5. What Auditing Can Be Done on 12:30 P.M.—Luncheon for members and Inventories Prior to the Year-End guests Closing or Subsequent Thereto?— Lincoln G. Kelly, Chairman Erwin Heinen Presentation of Elijah Watt Sells 6. Inventory Observation Problems Pe scholarship prizes by Herman W. culiar to Certain Industries: Bevis, chairman of board of exam a. Oil Industry—A. G. Schlossstein, iners Jr. Report of 1952 Annual Meeting 47

b. Lumber Mill—James G. Gold 2. Standardization of Municipal Ac rainer counting and Auditing—Joseph M. c. Meat Packing Plant—Oliver W. Lowery Seifert 3. Modern Trends in Municipal Ac 7. Relation of Cost Records and In counting—Osa F. Alexander ventory Prices in the Case of 4. A Federal Single Appropriations Manufactured Articles—Ralph L. Bill—J. Heywood Bell, Jr. Stauffer 8. Auditor’s Responsibility for Inven Thursday, October 9th tory in Public Warehouse—J. F. 9:30 A.M.—Tax Session Stuart Arthur Thomas J. Green, Chairman 1. Tax Administration as It Looks to Wednesday, October 8th the Taxpayer—Mr. Green 9:30 A.M.—Simultaneous Technical Ses sions 2. Reorganization of the Bureau of Internal Revenue—T. C. Atkeson Professional Conduct 3. Economic Aspects of Taxation— Edward J. McDevitt, Chairman Price Daniel 1. Professional Ethics and the Public 4. Separation of the Bureau of Internal Interest—Mr. McDevitt Revenue from the Treasury Depart 2. Professional Ethics as Viewed by ment—William A. Sutherland the Securities and Exchange Com mission—Earle C. King 3. Practice of Two Professions—Per ENTERTAINMENT cival F. Brundage An elaborate entertainment program 4. Advertising and Solicitation—Sam with a Texan flavor featured the follow uel W. Eskew ing: General reception and cocktail party 5. Independence—John H. Zebley, Jr. on Sunday; reception and Shamburger 6. Adherence to Accepted Accounting Party on Monday; golf tournament and Principles and Auditing Procedures buffet luncheon on Tuesday; trip to San —Donald M. Russell Jacinto Battleground, San Jacinto Mu Governmental Accounting seum and Battleship Texas, and Chuck and Auditing Wagon Feast on Wednesday; and recep Frank L. Wilcox and T. Coleman tion and dinner dance on Thursday. The Andrews, Co-chairmen ladies enjoyed a luncheon and style show, 1. Progress in Municipal Accounting and shopping tour on Tuesday; and a bus and Auditing—E. Lynn Crossley tour of Houston on Thursday.