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1-1-1950 Officers and committees for the year 1949-1950 American Institute of Accountants

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FOR THE YEAR 1949-1950

AMERICAN INSTITUTE OF ACCOUNTANTS

270 MADISON AVENUE • NEW YORK 16, N. Y. CONTENTS

Page American InstituteBenevolent Fund, Inc...... 25 American Institute ofAccountants Foundation...... 24 Board of Examiners...... 9 Council...... 7 Trial Board...... 25

Committees Admissions...... 10 Executive...... 9 Advisory Committee of Federal Government Account­ Individual Practitioners . 10 ing ...... 14 Advisory Committee of Federal Taxation...... 14 Industrial Accountants . 11 Foreign Affairs...... 15 Accountants’ Liability and History...... 15 Liability Insurance . 11 Meetings...... 15 Accounting Procedure . 11 Membership...... 16 Annual Awards...... 12 Municipal Accounting ... 21 Arbitration...... 12 Natural Business Year ... 22 Auditing Procedure .... 12 Nominations...... 10 Bankruptcy and Reorganization 12 Personnel Reference ... 22 Professional Ethics . 10 Budget and Finance .... 12 Public Relations...... 22 By-Laws...... 13 Publication*...... 22 Committees...... 13 Relations with Bar .... 22 Cooperation with Bankers . 13 Relations with SEC .... 23 Cooperation with Bureau of Selection of Personnel ... 23 Economic Research 13 Social Security...... 23 Cooperatives...... 13 State Legislation...... 23 Coordination of Activities of Stock Brokerage Accounting 24 State and National Organiza­ Systems and Internal tions ...... 13 Accounting...... 24 Credentials...... 14 Technical Sessions .... 24 Education...... 14 Wages and Hours .... 24

Proceedings of the Annual Meeting ...... 26 Copyright 1950 by the American Institute of Accountants OFFICERS & COMMITTEES

This booklet contains names and ad­ dresses of officers, the membership of committees, boards, and other bodies of the American Institute of Accountants.

This list is published as of January 1,

1950, and includes the names of those persons serving during the fiscal year

1949-1950. AMERICAN INSTITUTE OF ACCOUNTANTS

MEMBERS OF COUNCIL

Officers President—J. Harold Stewart...... 50 State Street, Boston 9, Mass. Vice President—Maurice Austin...... 60 East 42nd Street, New York 17, N. Y. Vice President—George O. Carlson. . .510 South Spring Street, Los Angeles 13, Cal. Vice President—James I. Keller, Jr...... 1701 DuPont Building, Miami, Fla. Vice President—Maurice H. Stans...... 1 North LaSalle Street, Chicago 2, Ill. Treasurer—Warren W. Nissley...... 1 Cedar Street, New York 5, N. Y.

Elected Members For three years Stanley V. Davies...... 631 United States National Bank Building, Denver, Colo. Marquis G. Eaton...... Alamo National Building, San Antonio 5, Texas Arthur B. Foye...... 67 Broad Street, New York 4, N. Y. Raymond J. Hannon...... 18 First Street, Troy, N. Y. John B. Inglis...... 56 Pine Street, New York 5, N. Y. J. K. Lasser...... 1440 Broadway, New York 18, N. Y. Simon Loeb...... 501 Fifth Avenue, New York 17, N. Y. Coleburke Lyons...... 2712 Book Tower, Detroit 26, Mich. Edward J. McDevitt...... 201 Devonshire Street, Boston 10, Mass. Clifton H. Morris...... 1205 Fair Building, Fort Worth, Texas John D. Morrison...... 213 North Front Street, Marquette, Mich. Lee J. Muren...... 1018 Arcade Building, St. Louis, Mo. Edwin W. Norberg. .. .822 First National-Soo Line Building,' Minneapolis 2, Minn. Thomas J. Reedy...... 105 South LaSalle Street, Chicago 3, Ill. Paul K. Webster...... 155 Montgomery Street, San Francisco 4, Cal. Carl H. Zipf...... 2101 Packard Building Philadelphia 2, Pa. For two years Robert L. Chesnutt...... 208 South LaSalle Street, Chicago 4, Ill. Charles C. Cobun...... 315 West Ninth Street, Los Angeles 15, Cal. Roy C. Comer...... Dexter Horton Building, Seattle 4, Wash. Gregory F. Detmer...... 730 Lincoln Bank Tower, Fort Wayne, Ind. Walter G. Draewell...... 100 Bush Street, San Francisco 4, Cal. Samuel W. Eskew...... 706 Kentucky Home Life Building, Louisville 2, Ky. Russell C. Harrington...... 1702 Industrial Trust Building, Providence 3, R. I. James W. Hickey...... 750 Main Street, Hartford 3, Conn. Ralph S. Johns...... 40 Crestwood Drive, Maplewood, N. J. L. H. Keightley...... 610 Davidson Building, Sioux City 13, Iowa William F. Loflin...... 312 Columbus Bank & Trust Co. Building, Columbus, Ga. Vernon J. Moore...... 1321 Citizens Building, Cleveland 14, Ohio George E. Perrin...... 203 Southeastern Building, Greensboro, N. C. James A. Smith...... 860 Security Building, Phoenix, Ariz. Edward J. Stegman...... 1208 Mercantile Trust Building, Baltimore, Md. Garner A. Watson...... 825 Commerce Title Building, Memphis, Tenn. 7 8 American Institute of Accountants

For one year Frederick Banks...... Broad Street Bank Building, Trenton 8, N. J. Russell S. Bogue...... 501 Morgan Street, Tampa, Fla. M. C. Conick...... First National Bank Building, Pittsburgh, Pa. Alexander Eulenberg...... 110 South Dearborn Street, Chicago 3, Ill. Roy F. Godfrey...... 1409 Philtower Building, Tulsa, Okla. E. Woody Kuhlman...... 231 West Wisconsin Avenue, Milwaukee 3, Wis. Walter M. LeClear...... 105 West Adams Street, Chicago, Ill. John C. Martin...... 33 North High Street, Columbus 15, Ohio J. Robert McCoy...... 215 West Seventh Street, Los Angeles 14, Cal. J. Cyril McGarrigle...... 1818 Packard Building, Philadelphia 2, Pa. Robert L. Miller...... 428 Chestnut Street, Lebanon, Pa. Henry S. Owens...... 1728 L Street, N.W. 1, Washington 6, D. C. R. L. Persinger...... P. O. Box 60, Covington, Va. John A. Peyroux, Jr...... 2215 American Bank Building, New Orleans, La. Raymond E. Rickbeil...... 921 First National Bank Building, Springfield, Ill. Harry C. Visse...... 1045 Pacific Building, Portland 4, Ore.

Members at Large For three years T. Coleman Andrews...... American Building, Richmond 6, Va. J. William Hope...... 886 Main Street, Bridgeport, Conn. Prior Sinclair...... 90 Broad Street, New York 4, N. Y. For two years Lincoln G. Kelly...... 608 Walker Bank Building, Salt Lake City, Utah J. A. Phillips...... 2002 Second National Bank Building, Houston 2, Texas John H. Zebley, Jr...... 1530 Chestnut Street, Philadelphia 2, Pa. For one year Parry Barnes...... 21 West Tenth Street, Kansas City 6, Mo. William M. Black...... 70 Pine Street, New York 5, N. Y. Maurice E. Peloubet...... 25 Broadway, New York 4, N. Y.

Ex Officio Past presidents of the American Institute of Accountants George D. Bailey...... 1380 National Bank Building, 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 Building, Denver 2, Colo. Charles B. Couchman...... 120 Broadway, New York 5, N. Y. John F. Forbes...... 510 Crocker Building, San Francisco 4, Cal. Frederick H. Hurdman...... 43 Broad Street, New York 4, N. Y. N. Loyall McLaren...... 444 California Street, San Francisco 4, Cal. Robert H. Montgomery...... 90 Broad Street, New York 4, N. Y. Carl H. Nau...... 1220 East 114th Street, Cleveland, Ohio John B. Niven...... 233 Broadway, New York 7, N. Y. George S. Olive...... 528 Chamber of Commerce Building, Indianapolis 4, Ind. 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 Building, Oklahoma City 2, Okla. List of Committee Members 9

Past presidents of the American Society of Certified Public Accountants George P. Ellis...... 7 South Dearborn Street, Chicago 3, Ill. James F. Hughes...... 70 Pine Street, New York 5, N. Y. 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 Building, Pittsburgh 22, Pa. William D. Morrison. .840 San Diego Trust & Savings Building, San Diego 1, Cal. Herman C. J. Peisch...... 550 Baker Building, Minneapolis, Minn. Arthur C. Upleger...... 507 Service Mutual Building, 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.

COMMITTEES — 1949-50

Board of Examiners For three years Alexander Eulenberg...... 110 South Dearborn Street, Chicago 3, Ill. Mark D. Littler...... 67 Wall Street, New York 5, N. Y. Cyril H. Wideman...... 1600 Toledo Trust Building, Toledo 4, Ohio For two years Herman W. Bevis...... 56 Pine Street, New York 5, N. Y. Ira N. Frisbee...... 303 Bank of America Building, Beverly Hills, Cal. John J. Lang...... 509 Olive Street, St. Louis 1, Mo. For one year Donald P. Perry, Chairman...... 80 Federal Street, Boston 10, Mass. John W. Queenan...... 67 Broad Street, New York 4, N. Y. Edward J. Stegman...... 1208 Mercantile Trust Building, Baltimore, Md.

Executive Committee J. Harold Stewart, Chairman ...... 50 State Street, Boston 9, Mass. Maurice Austin...... 60 East 42nd Street, New York 17, N. Y. George O. Carlson...... 510 South Spring Street, Los Angeles 13, Cal. James I. Keller, Jr...... 1701 DuPont Building, Miami, Fla. Maurice H. Stans...... 1 North LaSalle Street, Chicago 2, Ill. Warren W. Nissley...... 1 Cedar Street, New York 5, N. Y. T. Coleman Andrews...... American Building, Richmond 6, Va. Percival F. Brundage...... 56 Pine Street, New York 5, N. Y. William M. Black...... 70 Pine Street, New York 5, N. Y. Marquis G. Eaton...... Alamo National Building, San Antonio 5, Texas J. William Hope...... 886 Main Street, Bridgeport, Conn. George E. Perrin...... 203 Southeastern Building, Greensboro, N. C. Prior Sinclair...... 90 Broad Street, New York 4, N. Y. 10 American Institute of Accountants

Committee on Admissions For three years Edward L. Lawson...... 50 East 42nd Street, New York 17, N. Y. For two years Donald M. Russell, Chairman...... 1312 Book Building, Detroit 26, Mich. Maurice E. Peloubet...... 25 Broadway, New York 4, N. Y. For one year Clem W. Collins...... 33 First National Bank Building, Denver 2, Colo. Simon Loeb...... 501 Fifth Avenue, New York 17, N. Y.

Committee on Nominations Percival F. Brundage, Temporary Chairman... .56 Pine Street, New York 5, N. Y. Samuel W. Eskew...... 706 Kentucky Home Life Building, Louisville 2, Ky. Fred P. Carleton...... 420 Denver National Building, Denver, Colo. Donald B. Carmichael...... 471 Pittock Block, Portland, Ore. Fred G. Eichhorn...... 203 Southeastern Building, Greensboro. N. C. Oliver W. Seifert...... Carew Tower, Cincinnati 2, Ohio Norman H. S. Vincent...... 50 Congress Street, Boston 9, Mass.

Committee on Professional Ethics John H. Zebley, Jr., Chairman...... 1530 Chestnut Street, Philadelphia 2, Pa. Parry Barnes...... 21 West Tenth Street, Kansas City 6, Mo. Lincoln G. Kelly...... 608 Walker Bank Building, Salt Lake City, Utah J. Robert McCoy...... 215 West Seventh Street, Los Angeles 14, Cal. C. Oliver Wellington...... 111 Broadway, New York 6, N. Y.

Advisory Committee of Individual Practitioners Robert E. Witschey, Chairman...... 311 Knight Building, Charleston, W. Va. William M. Airman...... Maverick Building, San Antonio 5, Texas Cyril N. Angell...... 79 Milk Street, Boston, Mass. Willard S. Bowen...... 217 Valentine Building, Pocatello, Idaho Winston Brooke...... 802 Commercial National Bank Building, Anniston, Ala. George M. Connors...... 19 Willow Street, Waterbury 29, Conn. L. C. Dopge...... Montgomery Building, Spartanburg, S. C. John H. Eldridge...... Mills Tower, San Francisco, Cal. A Dixon Fagerberg, Jr...... 225 Luhrs Building, Phoenix, Ariz. Harold H. Gilbert...... 908 David Stott Building, Detroit 26, Mich. William D. Hayes...... 31 Central Street, Bangor, Maine Harry N. James...... 509 Union Trust Building, Petersburg, Va. Anthony F. Kearney...... 60 State Street, Boston, Mass. Mary Ellen Lewis...... 1110 Wilshire Boulevard, Los Angeles 14, Cal. Frank L. McGlone...... 313 Grand Opera House Building, Terre Haute, Ind. John G. Moody...... 203 College Street, Burlington, Vt. Leonard D. Riccio...... 875 Elm Street, Manchester, N. H. R. Warner Ring...... 1202 Alfred I. duPont Building, Miami 32, Fla. Joseph J. Seaman...... 214 Smith Street, Perth Amboy, N. J. List of Committee Members 11

George F. Shannon...... 390 Main Street, Worcester 8, Mass. Orley R. Taylor...... 1212 Pioneer Building, St. Paul, Minn. H. M. Turnburke...... Manson Arcade, Clearwater, Fla. C. Howard Walden...... 419 First National Bank Building, Helena, Mont. Thomas P. ZumBrunnen ...... P. O. Box 793, Salisbury, N. C.

Advisory Committee of Industrial Accountants Joel M. Bowlby, Chairman...... American Building, Cincinnati 1, Ohio Edwin F. Chinlund...... 151 West 34th Street, New York 1, N. Y. Edward C. Hunt...... 220 Devonshire Street, Boston 10, Mass. Arthur R. Janes...... 180 Madison Avenue, New York 16, N. Y. Thomas Benton Noble...... '...... 1400 44th Street, Birmingham 8, Ala. Richard N. Rigby...... 15 West First Street, Boston 6, Mass. Fladger F. Tannery...... 702 Humble Building, Houston 2, Texas Kenneth C. Tiffany...... Burroughs Adding Machine Co., Detroit 32, Mich. George W. Troost...... 341 Massachusetts Avenue, Detroit 31, Mich.

Committee on Accountants' Liability and Liability Insurance Norman J. Lenhart, Chairman...... 90 Broad Street, New York 4, N. Y. William M. Black...... 70 Pine Street, New York 5, N. Y. Frank S. Glendening...... 1700 Lincoln-Liberty Building, Philadelphia 7, Pa. Ralph S. Johns...... 40 Crestwood Drive, Maplewood, N. J. Saul Levy...... 1 Wall Street, New York 5, N. Y. Ernest O. Lothrop...... 56 Pine Street, New York 5, N. Y. Harold S. Treworgy...... 293 Bridge Street, Springfield 3, Mass.

Committee on Accounting Procedure Samuel J. Broad, Chairman...... 70 Pine Street, New York 5, N. Y. Frederick B. Andrews...... 1 North LaSalle Street, Chicago 2, Ill. Frank S. Calkins...... 311 Mutual Building, Richmond, Va. James L. Dohr. .. .705 Business Building, Columbia University, New York 27, N. Y. George P. Ellis...... 7 South Dearborn Street, Chicago 3, Ill. H. A. Finney...... 208 South LaSalle Street, Chicago 4, Ill. J. P. Friedman...... 233 Broadway, New York 7, N. Y. Thomas G. Higgins...... 1 Cedar Street, New York 5, N. Y. John B. Inglis...... 56 Pine Street, New York 5, N. Y. Paul K. Knight...... 67 Wall Street, New York 5, N. Y. John A. Lindquist...... 19 Rector Street, New York 6, N. Y. Edward J. McDevitt...... 201 Devonshire Street, Boston 10, Mass. Leslie Mills...... 50 Broadway, New York 4, N. Y. William A. Paton...... 106 Tappan Hall, Ann Arbor, Mich. Maurice E. Peloubet...... 25 Broadway, New York 4, N. Y. John W. Queenan...... 67 Broad Street, New York 4, N. Y. James A. Runser...... 444 California Street, San Francisco 4, Cal. Walter L. Schaffer...... 90 Broad Street, New York 4, N. Y. Virgil S. Tilly...... 410 National Bank of Tulsa Building, Tulsa 3, Okla. C. Oliver Wellington...... 111 Broadway, New York 6, N. Y. Edward B. Wilcox...... 120 South LaSalle Street, Chicago 3, Ill.

12 American Institute of Accountants

Committee on Annual Awards Ralph B. Mayo, Chairman...... 1200 Security Building, Denver 2, Colo. George D. Baxley...... 1380 National Bank Building, Detroit 26, Mich. Burnell H. DeVos...... 730 15th Street, N.W., Washington, D. C. Herbert E. Miller...... University of Michigan, Ann Arbor, Mich. Prior Sinclair...... 90 Broad Street, New York 4, N. Y.

Committee on Arbitration Gordon S. Battelle, Chairman...... 403 West First Street, Dayton 2, Ohio Lynn E. Baxter...... 407 Kearns Building, Salt Lake City, Utah Chester W. DeMond...... 56 Pine Street, New York 5, N. Y. N. E. Derrick...... 1226 Sumter Street, Columbia, S.C. James D. Glunts...... 31 Milk Street, Boston 9, Mass.

Committee on Auditing Procedure Alvin R. Jennings, Chairman...... 90 Broad Street, New York 4, N. Y. Donald J. Bevis...... 1380 National Bank Building, Detroit 26, Mich. Garrett T. Burns...... 67 Wall Street, New York 5, N. Y. Charles F. Coates...... 750 Main Street, Hartford 3, Conn. M. C. Conick...... First National Bank Building, Pittsburgh 22, Pa. William D. Cranstoun...... 43 Broad Street, New York 4, N. Y. Walter R. Flack...... 1114 Alamo National Building, San Antonio 5, Texas Howard L. Guyett...... 25 Broadway, New York 4, N. Y. Henry I. Hamm...... 125 Park Avenue, New York 17, N. Y. Russell C. Harrington...... 1702 Industrial Trust Building, Providence 3, R. I. Gordon M. Hill...... 1 East 44th Street, New York 17, N. Y. Malcolm Lamont...... 1500 Walnut Street, Philadelphia 2, Pa. J. Woodrow Mathews...... 1639 Gulf Building, Pittsburgh 19, Pa. Ira B. McGladrey...... 826 Merchants Bank Building, Cedar Rapids, Iowa Harry M. Prevo...... 2472 National Bank Building, Detroit 26, Mich. Oliver W. Seifert...... Carew Tower, Cincinnati 2, Ohio Ralph L. Stauffer...... 1818 Packard Building, Philadelphia 2, Pa. A. Frank Stewart...... 1105 State-Planters Bank Building, Richmond, Va. Cyril Talbot...... 1 North LaSalle Street, Chicago 2, Ill.

Committee on Bankruptcy and Reorganization Lewis J. Laventhol, Chairman...... 1528 Walnut Street, Philadelphia 2, Pa. J. Kenneth Hoffman...... 70 Pine Street, New York 5, N. Y. Maurice I. Sohn...... 295 Madison Avenue, New York 17, N. Y. Edward J. Taylor...... 90 Broad Street, New York 4, N. Y.

Committee on Budget and Finance J. William Hope, Chairman...... 886 Main Street, Bridgeport, Conn. William M. Black...... 70 Pine Street, New York 5, N. Y. Warren W. Nissley...... 1 Cedar Street, New York 5, N. Y. List of Committee Members 13

Committee on By-Laws Earl A. Waldo, Chairman. .1023 Northwestern Bank Building, Minneapolis 2, Minn. Harold J. Beairsto...... 50 East 42nd Street, New York 17, N. Y. Clem W. Collins...... 333 First National Bank Building, Denver 2, Colo. Alfred N. Hilton...... 119 W. Tazewell Street, Norfolk 10, Va. Kenneth B. White...... 704 Great National Life Building, Dallas 1, Texas

Committee on Committees Charles H. Towns, Chairman...... 80 Broad Street, New York, N. Y. N. Loyall McLaren...... 444 California Street, San Francisco, Cal. J. A. Phillips...... 2002 Second National Bank Building, Houston 2, Texas Edward B. Wilcox...... 120 South LaSalle Street, Chicago, Ill. T. Dwight Williams...... 2220 First National Building, Oklahoma City, Okla.

Committee on Cooperation with Bankers Paul Grady, Chairman...... 56 Pine Street, New York 5, N. Y. Marion E. Barnett...... 916 Commercial Building, Shreveport, La. Edward L. Benton...... 110 E. Wisconsin Avenue, Milwaukee 2, Wis. Thomas H. Carroll...... 1500 Walnut Street, Philadelphia, Pa. Henry E. Mendes...... 233 Broadway, New York 7, N. Y. Donald M. Russell...... 1312 Book Building, Detroit 26, Mich. Andrew Stewart...... 67 Broad Street, New York 4, N. Y. A. Frank Stewart...... 1105 State Planters Bank Building, Richmond 10, Va.

Committee on 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. Ludwig B. Prosnitz...... 295 Madison Avenue, New York 17, N. Y.

Committee on Cooperatives Walter L. Bradley, Chairman...... ^7 W. Huron Street, Buffalo 2, N. Y. Vernon B. Burgett...... 1325 Commerce Building, Kansas City 6, Mo. Thomas J. Cogan...... 90 Broad Street, New York 4, N. Y. John J. Harrington...... 657 Main Street, Waltham 54, Mass. Lewis Lilly...... 444 California Street, San Francisco 4, Cal. A. William Morris...... 1429 Old National Bank Building, Spokane 8, Wash. Bouldin S. Mothershead...... 201 Grande Building, Harlingen, Texas James F. Pitt...... 1010 Foshay Tower, Minneapolis 2, Minn. I. D. Wood...... 203 Mayer Building, Portland 5, Ore.

Committee on Coordination of Activities of State and National Organizations Clinton W. Bennett, Chairman...... 140 Federal Street, Boston 10, Mass. J. L. Bennett...... 1507 Puget Sound Bank Building, Tacoma 2, Wash. Theodore S. Mauldin...... Eatman Building, Albany, Ga. 14 American Institute of Accountants

John F. Prescott...... 913 Raleigh Building, Raleigh, N. C. John M. Stoy...... 1757 K Street, N. W., Washington 6, D. C. Cyril Talbot...... 1 North LaSalle Street, Chicago 2, Ill. William H. Walker...... 524 Merchants Bank Building, Indianapolis 4, Ind. Paul K. Webster...... 155 Montgomery Street, San Francisco 4, Cal. Wallace W. Willard...... 15 Lewis Street, Hartford 3, Conn.

Committee on Credentials John J. McIsaac, Chairman...... 60 State Street, Boston 9, Mass. James H. Richardson...... 75 Federal Street, Boston 10, Mass. James B. Willing...... 201 Devonshire Street, Boston 10, Mass.

Committee on Education For three years William Boynton...... 75 Federal Street, Boston 10, Mass. James E. Hammond...... 111 Sutter Street, San Francisco, Cal. Robert T. Knight...... 1206 Washington Building, Tacoma 2, Wash. For two years Richard E. Claire...... 2200, 120 South LaSalle Street, Chicago 3, Ill. Louis M. Kessler...... 1 North LaSalle Street, Chicago 2, Ill. For one year John W. McEachren, Chairman... .1380 National Bank Building, Detroit 26, Mich. Herman W. Bevis...... 56 Pine Street, New York 5, N. Y.

Committee on Federal Government Accounting T. Coleman Andrews, Chairman ...... American Building, Richmond 6, Va. Harry E. Howell...... 120 Broadway, Rm. 2820, New York 5, N. Y. Edward A. Kracke...... 67 Broad Street, New York 4, N. Y. Maurice E. Peloubet...... 25 Broadway, New York 4, N. Y. Weston Rankin...... ,...... 56 Pine Street, New York 5, N. Y. Donald F. Stewart...... 218 East Bay Street, Savannah, Ga. Joseph M. Sullivan...... 80 Broad Street, New York 4, N. Y.

Committee on Federal Taxation Mark E. Richardson, Chairman...... 916 Continental Building, Washington, D. C. Leland G. Sutherland, Vice Chairman...... 56 Pine Street, New York 5, N. Y. Michael D. Bachrach...... 1508 Farmers Bank Building, Pittsburgh 22, Pa. Robert Caldwell, Jr...... 1200 Bankers Securities Building, Philadelphia 7, Pa. Hal Canary...... 1301 Columbian Mutual Tower, Memphis, Tenn. William J. Carter...... 800 Peachtree Building, Atlanta 5, Ga. John S. Cowing...... 2222 Packard Building, Philadelphia 2, Pa. Thomas J. Green...... 120 Broadway, New York 5, N. Y. Austin H. Gresham...... 706 Kentucky Home Life Building, Louisville 2, Ky. Ernest H. Griswold...... 50 Congress Street, Boston 9, Mass. Benjamin Harrow...... 19 Rector Street, New York 6, N. Y. Charles L. Holmes...... 75 Federal Street, Boston 10, Mass. List of Committee Members 15

Harry D. Hopson...... 801 Union National Bank Building, Houston 2, Texas Wallace M. Jensen...... 1380 National Bank Building, Detroit 26, Mich. Wayne Kendrick...... 20 Rust Building, Washington, D. C. J. K. Lasser...... 1440 Broadway, New York 18, N. Y. Charles S. Lowrimore...... 510 Murchison Building, Wilmington, N. C. Charles Melvoin...... 110 South Dearborn Street, Chicago 3, Ill. H. A. Mihills...... 917 Munsey Building, Washington, D. C. Leslie Mills...... 50 Broadway, New York 4, N. Y. J. S. Seidman...... 80 Broad Street, New York 4, N. Y. Edward Simone...... 70 Pine Street, New York 5, N. Y. Troy G. Thurston...... 528 Chamber of Commerce Building, Indianapolis 4, Ind. William H. Westphal ...... P. O. Box 59, Greensboro, N. C. Charles N. Whitehead ...... 444 California Street, San Francisco 4, Cal. John Wiseman...... 405 Laconia Building, Wheeling, W. Va.

Committee on Foreign Affairs Maurice E. Peloubet, Chairman . ... .25 Broadway, New York 4, N. Y. T. Coleman Andrews...... American Building, Richmond 6, Va. George Cochrane...... ,. .111 Broadway, New York 6, N. Y. Arthur B. Foye...... 67 Broad Street, New York 4, N. Y. J. W. F. Neill...... 56 Pine Street, New York 5, N. Y.

Committee on History Norman E. Webster, Chairman...... 50 Broadway, New York 4, N. Y. William P. Hilton...... 119 W. Tazewell Street, Norfolk 10, Va. Ethel S. Kingman...... 211 Congress Street, Boston 10, Mass. A. C. Littleton...... University of Illinois, 321 David Kinley Hall, Urbana, Ill. Ernest Reckitt...... 425 Greenwood Boulevard, Evanston, Ill. T. Edward Ross...... 2101 Packard Building, Philadelphia 2, Pa.

Committee on Meetings Richard S. Chamberlain, Chairman ...... 75 Federal Street, Boston 10, Mass. Harold A. Mock, Vice Chairman ...... 50 State Street, Boston 9, Mass. Thomas V. Barb...... 80 Federal Street, Boston 10, Mass. Clinton W. Bennett...... 140 Federal Street, Boston, Mass. David B. Galloway...... 79 Milk Street, Boston 9, Mass. James D. Glunts...... 31 Milk Street, Boston 9, Mass. Harvard L. Mann...... 60 State Street, Boston 9, Mass. Edward J. McDevitt...... 201 Devonshire Street, Boston 10, Mass. Donald P. Perry...... 80 Federal Street, Boston 10, Mass. E. Ober Pride...... 40 Central Street; Boston 9, Mass. Charles F. Rittenhouse...... 75 Federal Street, Boston 10, Mass. Richard D. Seamans...... 84 State Street, Boston, Mass. Harold S. Treworgy...... 293 Bridge Street, Springfield, Mass. Norman H. S. Vincent...... 50 Congress Street, Boston 9, Mass. Harold Wald...... 45 Milk Street, Boston, Mass. Alvin T. Wilkinson...... 50 Congress Street, Boston 9, Mass. 16 American Institute of Accountants

Committee on Membership Coleburke Lyons, Chairman...... 2712 Book Tower, Detroit 26, Mich.

Alabama J. Dozier P. Arnold...... 1015 First National Bank Building, Birmingham 3 Gilbert F. Dukes...... 311 First National Bank Building, Mobile James Winfrey Wilson...... 333 First National Bank Building, Montgomery 4

Arizona , Alex W. Crane...... 321 Heard Building, Phoenix Wilfrid L. Gray...... Ross Favour Building, Prescott P. J. Walsh...... 703 Valley National Building, Tucson

Arkansas Asa Standley Fox ...... 608 Pyramid Building, Little Rock Truman Newton...... 212 National Building, Pine Bluff James D. Walker, Jr;...... Merchants National Bank Building, Fort Smith

California John H. Eldridge...... Mills Tower, San Francisco Hilliard R. Giffen...... 801 Bank of America Building, Fresno Albert M. Hudson...... 727 National Building, San Diego Gerald M. Johnson...... 1020 Forum Building, Sacramento Michael E. Levy...... 1230 Pacific Mutual Building, Los Angeles Douglas A. Sargent...... 1212 Broadway, Oakland Frank C. Scott...... P. O. Box 1904, Stockton 100 Leo B. Welch...... 416 Bank of America Building, Visalia

Colorado Paul E. Baldwin...... 702 Railway Exchange Building, Denver

Connecticut Newton B. Carey...... 15 Lewis Street, Hartford 3 G. M. Connors...... 19 Willow Street, Waterbury 29 Everett W. Delaney...... 886 Main Street, Bridgeport 3 Kenneth W. Hadley...... 205 Church Street, New Haven 10 Morris Thall...... 309 State Street, New London

Delaware Paul W. Lukens...... 3007 DuPont Building, Wilmington

District of Columbia B. F. Regardie...... 1406 G Street, N. W., Washington 5

Florida

Russell S. Bogue...... 501 Morgan Street, Tampa 1 C. K. Milligan...... Barnett National Bank Building, Jasksonville Robert M. Morgan...... 1620 DuPont Building, Miami List of Committee Members 17

Georgia Walter G. Askew, Jr...... 15 Drayton Street, Savannah Brooks Geohegan...... 1013 Bankers Insurance Building, Macon Theodore S. Mauldin...... Eatman Building, Albany Henry W. Neill...... 801 Southern Finance Building, Augusta Thomas M. Weber...... 608 Grand Theatre Building, Atlanta 3 S. M. Wellborn, Jr...... 308 Columbus Bank & Trust Company Building, Columbus

Idaho N. A. Jordan...... 508 Carlson Building, Pocatello L. A. Lephart...... 204 Idaho Building, Boise

Illinois William A. Fuller...... 1010 Rockford Trust Building, Rockford Robert J. Murphey...... 240 North Church Street, Decatur Hale L. Newcomer...... University of Illinois, Urbana Irving Richardson...... 1 North LaSalle Street, Chicago 2 E. H. Schwagmeyer...... Caterpillar Tractor Company, Peoria 8 Ralph W. Turnbull...... 416 First National Bank Building, Springfield

Indiana W. T. Boden...... 709 Citizens Bank Building, Evansville 17 Donald H. Borger...... Lincoln Bank Tower, Fort Wayne A. J. Jerman...... 327 Lemcke Building, Indianapolis 4 Karl G. King, Jr...... 420 J.M.S. Building, South Bend 5 Stanley Pressler...... School of Business, Indiana University, Bloomington

Iowa Andrew J. Kisting...... 1360 Alta Vista Street, Dubuque Harold G. Petershagen 324 Savings & Loan Building, Iowa City Fred J. Peterson...... 1036 Des Moines Building, Des Moines 9 Ray A. Scott...... 226 Guaranty Building, Cedar Rapids Sidney L. Taylor...... 507 Warnock Building, Sioux City

Kansas John P. Bonicamp...... 719 Union National Bank Building, Wichita 2 W. F. Hardesty...... 601 New England Building, Topeka Sam W. Sinderson...... 234 Brotherhood Block, Kansas City

Kentucky Edward T. Alexander ...... P. O. Box 513, Owensboro Gordon Ford...... Kentucky Home Life Building, Louisville Harrar W. Taylor ...... 721 Citizens Bank Building, Paducah

Louisiana William G. Aly...... 449 Canal Building, New Orleans 12 Harry G. Frazer...... 708 Ouachita Bank Building, Monroe Robert B. Hawthorn.. ... 1038 Main Street, Baton Rouge R. E. Opferkuch...... P. O. Box 639, Sheveport 18 American Institute of Accountants

Maine Chester M. Foss 1204 Chapman Building, Portland

Maryland James L. Benson...... 1827 Munsey Building, Baltimore 2

Massachusetts J. Henry Anderson___ ...... 340 Main Street, Worcester John P. Darmody..... 82 Devonshire Street, Boston 9 Francis Edward Moore ...... 80 Federal Street, Boston 10 Harold A. Obrey...... 95 State Street, Springfield 3

Michigan John G. Cotton...... Peoples National Bank Building, Grand Rapids William B. Isenberg...... 3400 Barium Tower, Detroit 26 C. Claire Moore...... 309 Hackley Union Bank Building, Muskegan Duncan Rice...... 1207 American National Bank Building, Kalamazoo 4 E. Todd Stringer...... 1708 Olds Tower Building, Lansing 8 Herbert F. Taggart...... University of Michigan, Ann Arbor Wayne B. Wagar...... 102 Second National Bank Building, Saginaw

Minnesota Harold James Matteson...... 902 Fidelity Building, Duluth Edwin W. Norberg...... 822 First National-Soo Line Building, Minneapolis 2 Hartwell Wilkerson...... E-706 First National Bank Building, St. Paul 1

Mississippi Clive F. Dunham...... University of Mississippi, University Dick D. Quin...... 506 Barnett-Madden Building, Jackson J. Donovan Ready ...... Citizens National Bank Building, Meridian Ermis C. Wilson...... P. O. Box 865, Greenwood

Missouri A. Henry Cuneo...... National Fidelity Life Building, Kansas City Louis J. Kerber...... 320 North Fourth Street, St. Louis 2

Montana Maurice Remington Colberg . .302 Securities Building, Billings Hugh D. Galusha...... 555 Fuller Avenue, Helena Douglas N. Wilson...... 419 Strain Building, Great Falls

Nebraska John H. Becker...... 620 W.O.W. Building, Omaha Calvin B. Remington...... 527 Bankers Life Building, Lincoln

New Hampshire Percy H. Bennett...... 62 Stark Street, Manchester List of Committee Members 19

Nevada William B. Kottinger, Jr. 29 East First Street, Reno

New Jersey Morris E. Albert...... 12 Haddon Avenue, Camden Carl R. Fiore...... 1537 Atlantic Avenue, Atlantic City Raymond M. Greer...... 921 Bergen Avenue, Jersey City Henry B. Richardson ...... 657 Main Avenue, Passaic Joseph J. Seaman...... 214 Smith Street, Perth Amboy Frank Thoburn...... 821 Broad Street Bank Building, Trenton Murray L. Tracy...... 60 Park Place, Newark 2 John J. White...... 129 Market Street, Paterson

New Mexico W. E. Hammond...... 815 First National Bank Building, Albuquerque

New York Raymond J. Hannon...... 18 First Street, Troy Arthur Korotkin...... 82 State Street, Albany 7 Edgar G. Lucker...... 1013 Liberty Bank Building, Buffalo 2 J. Arthur Marvin...... 100 Broadway, New York 5 Everett J. Penny...... 31 Mamaroneck Avenue, White Plains Henry W. Rowley...... 31 Exchange Street, Rochester Howard V. Swartz...... 622 University Building, Syracuse

North Carolina Daniel Eugene Gatewood, Jr...... 426 Wachovia Bank Building, Winston-Salem 3 T. N. Grice...... 302 Security Bank Building, Raleigh J. J. Lindsay...... Piedmont Building, Greensboro Robert C. Platt, Jr...... 601 Murchison Building, Wilmington Elton B. Taylor...... 135 Brevard Court, Charlotte 2

North Dakota Gerald R. Conoboy...... 412 Black Building, Fargo Carl A. Person...... P. O. Box 565, Bismarck

Ohio C. Weldon Barstow...... 307 Winters Bank Building, Dayton 2 A. R. Cox...... 516 Peoples Bank Building, Canton 2 Arthur E. Davies...... 1211 Mahoning Bank Building, Youngstown Stanley A. Hittner...... 604 Traction Building, Cincinnati 2 F. T. Hodgdon, Jr...... 418 Plain Dealer Building, Cleveland 14 Willard J. Ramser...... 1909 Ohio Building, Toledo 4 Clarence G. Rausch...... 509 Metropolitan Building, Akron

Oklahoma Kenneth Hurst...... 2220 First National Building, Oklahoma City Ross T. Warner...... 1409 Philtower Building, Tulsa 20 American Institute of Accountants

Oregon Harold Faunt...... 471 Pittock Block, Portland Thomas Winn...... 315 West Broadway, Eugene Pennsylvania Austin M. Beittel...... 303 Fulton National Bank Building, Lancaster Edwin C. Chinlund ...... 1639 Gulf Building, Pittsburgh 19 Alexander E. Loeb ...... 642 Miners National Bank Building, Wilkes-Barre William H. Peterson, Jr...... 215 North Washington Avenue, Scranton Daniel W. Rissinger ...... 15 South Duke Street, York Charles J. Rowland...... 12 Glennland Building, State College David Sorin...... 217 Pine Street, Harrisburg Richard K. Yotter. .., ...... Colonial Trust Building, Reading Harry C. Zug...... 2101 Packard Building, Philadelphia 2

Rhode Island Allyn K. Suttell...... c/o Collyer Insulated Wire Co., Pawtucket

South Carolina E. Roy Daniell...... 39 Broad Street, Charleston 3 J. W. Hunt...... South Carolina National Bank Building, Columbia J. Harlan Riggins...... 410 News Building, Greenville

South Dakota John W. Sorenson...... 308 Boyce-Greeley Building, Sioux Falls Tennessee Everett R. Baylor...... 408½ South Roan Street, Johnson City H. Clay Jones...... P. O. Box 506, Knoxville Glenn R. Kleinau...... 2006 McCallie Avenue, Chattanooga Fred G. Page...... 407 American Trust Building, Nashville 3 Garner A. Watson...... 825 Commerce Title Building, Memphis Texas Joseph D. Beasley...... 652 Esperson Building, Houston 2 Ben M. Davis...... Mims Building, Abilene A. H. Freemon...... 918 City National Building, Wichita Falls Woodie J. Hamby...... 918 Goodhue Building, Beaumont Thornton C. Huddle...... 1620 Alamo National Building, San Antonio 5 Kenneth W. Hurst...... 560 Fair Foundation Building, Tyler Fred F. Morgan...... 809 Driscoll Building, Corpus Christi Waymon G. Peavy...... 1220 Mercantile Securities Building, Dallas Percy W. Pogson, Jr...... 723 Mills Building, El Paso Harold B. Shile...... 720 Barfield Building, Amarillo Albert L. Wade...... 823 Littlefield Building, Austin Thomas C. Webb...... 803 Medical Arts Building, Waco

Utah S. Bertell Bunker...... 712 First Security Bank Building, Ogden Alan Grant Mann...... First Security Bank Building, Salt Lake City List of Committee Members 21

Vermont George J. Covalt...... Peisctr, Angell & Company, Rutland William John Shield ...... 10 Allerton Avenue, Brattleboro Virginia Hayden Q. Anderson ...... Shenandoah Life Building, Roanoke Samuel H. Baker, Jr...... 300 East Main Street, Richmond Walker E. Burnham...... 209 Lynch Building, Lynchburg Jerry B. Cunningham .. Dominion National Bank Building, Bristol Roger B. Sprigg...... 1423 North Courthouse Road, Arlington H. W. Woodhouse...... 641 Wainwright Building, Norfolk

Washington Firth J. Chew...... 412 Symons Building, Spokane 8 Franklin E. Johnson ...... Puget Sound Bank Building, Tacoma Richard C. Mounsey, Jr ...... 707 Securities Building, Seattle West Virginia Norman S. Fitzhugh, Jr ...... 508 Karfewha Banking & Trust Building, Charleston 1 Okey K. Hayslip...... P. O. Box 1642, Huntington 19 George M. Nicholson...... 504 Union Trust Building, Parkersburg Louis Francis Tanner ...... 515 Monongahela Building, Morgantown John Wiseman...... 405 Wheeling Bank & Trust Building, Wheeling Wisconsin C. A. Bertelson...... 509 South Barstow Street, Eau Claire T. A. Bruett...... 735 North Water Street, Milwaukee 2 James P. Burns...... 209 Northern Building, Green Bay Wilson A. Gibson...... 324 Exchange Building, LaCrosse Vernon F. Houghton .. ... 707 Insurance Building, Madison 3 Wyoming Harold V. Bowen...... Veile Building, Worland Manis G. Roush...... 211 Consolidated Royalty Building, Casper

Committee on Municipal Accounting James L. Benson, Chairman ...... 1827 Munsey Building, Baltimore 2, Md. Gunnar Alenius...... 1630 Filbert Court, Denver 7, Colo. Osa F. Alexander...... 510 Greenville Bank Building, Greenville, Texas James B. Burleson...... 902 Praetorian Building, Dallas 1, Texas Truman W. Clifton...... 813 Bankers Insurance Building, Macon, Ga. Arthur G. Flaherty...... 40 Court Street, Boston, Mass. Robert C. Lanka...... 155 Montgomery Street, San Francisco 4, Cal. William T. Lees...... 533 Industrial Trust Building, Providence 3, R. I. Joseph M. Lowery...... 302 Hall of Records, Los Angeles 12, Cal. Louis A. Ryan...... 915 American Building, Richmond, Va. Irving Tenner...... 10 North Clark Street, Chicago 2, Ill. H. T. Thorsen...... 1023 Northwestern Bank Building, Minneapolis 2, Minn. C. Henry Toler...... Pearisburg, Va. 22 American Institute of Accountants

Committee on Natural Business Year C. C. Gabrielson, Chairman... .412 Pershing Square Building, Los Angeles 13, Cal. Harry W. Babineau...... 880 Main Street, Bridgeport 3, Conn. Emmett S. Harrington...... 1120 White Building, Seattle 1, Wash. Tom L. Melven...... 528 Chamber of Commerce Building, Indianapolis 4, Ind. M. D. McCaskill...... 1212 Pioneer, Building, St. Paul, Minn. Joseph F. Sullivan...... 1 North LaSalle Street, Chicago, Ill. Roy L. Ward...... 800 Peachtree Building, Atlanta 5, Ga. J. A. Willett III...... 606 First National Bank Building, Harrisonburg, Va. L. C. J. Yeager...... 820 Kentucky Home Life Building, Louisville 2, Ky.

Committee on Personnel Reference Thomas D. Flynn, Chairman...... 1 Cedar Street, New York 5, N. Y. Tillman A. Bruett...... 735 North Water Street, Milwaukee 2, Wis. Harold R. Caffyn...... 43 Broad Street, New York 4, N. Y. Henry E. Greene...... 120 Broadway, New York 5, N. Y. John J. Harrington...... 657 Main Street, Waltham 54, Mass. John E. Madden...... 1600 Toledo Trust Building, Toledo 4, Ohio Oscar Martin...... 515 First National Bank Building, Lincoln, Nebr.

Committee on Public Relations George E. Perrin, Chairman...... 203 Southeastern Building, Greensboro, N. C. William M. Black...... 70 Pine Street, New York 5, N. Y. John J. Dobson...... 21 West 10th Street, Kansas City 6, Mo. John C. Martin...... 33 North High Street, Columbus 15, Ohio N. Loyall McLaren...... 444 California Street, San Francisco 41, Cal. Clifton H. Morris...... 1205 Fair Building, Fort Worth, Texas Norman H. S. Vincent...... 50 Congress Street, Boston 9, Mass.

Committee on Publication Edward B. Wilcox, Chairman...... 120 South LaSalle Street, Chicago 3, Ill. Marquis G. Eaton...... 1620 Alamo National Building, San Antonio 5, Texas Russell H. Hassler...... Harvard University, Soldiers Field, Boston 63, Mass. William T. Hazelton...... 56 Pine Street, New York 5, N. Y. Joel Hunter, Jr...... 1 East 44th Street, New York 17, N. Y. J. K. Lasser...... 1440 Broadway, New York 18, N. Y. Dorothy G. Willard...... 75 Federal Street, Boston 10, Mass.

Committee on 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. Mark E. Richardson...... 916 Continental Building, Washington, D. C. Maurice H. Stans...... 1 North LaSalle Street, Chicago 2, Ill. T. Dwight Williams...... 220 First National Building, Oklahoma City 2, Okla. List of Committee Members 23

Committee on Relations with SEC Robert W. Williams, Chairman ____ 123 South Broad Street, Philadelphia 9, Pa. Samuel J. Broad...... 70 Pine Street, New York 5, N. Y. George Cochrane...... 111 Broadway, New York 6, N. Y. Alvin R. Jennings...... 90 Broad Street, New York 4, N. Y. C. Oliver Wellington...... 111 Broadway, New York 6, N. Y.

Committee on Selection of Personnel Harold R. Caffyn, Chairman...... 43 Broad Street, New York 4, N. Y. Raymond G. Ankers...... 90 Broad Street, New York 4, N. Y. Samuel J. Duboff...... 125 Park Avenue, New York 17, N. Y. William B. Franke...... 444 Madison Avenue, New York 22, N. Y. S. Wesley Marcus...... 1946 Penobscot Building, Detroit 26, Mich. Leo A. Schmidt...... University of Michigan, Ann Arbor, Mich. James W. Strudwick .. 1204 First National-Soo Line Building, Minneapolis, Minn.

Committee on Social Security Byron P. Harris, Chairman...... 1505 Candler Building, Atlanta 3, Ga. William W. Colledge...... 1110 Jones Law Building, Pittsburgh 19, Pa. Robert O. Dana...... 45 Milk Street, Boston 9, Mass. John P. Goedert...... 1 North LaSalle Street, Chicago, Ill. Theodore L. Koos...... 830 Oliver Building, Pittsburgh 22, Pa. Vernon Nelson...... 512 Fourth National Bank Building, Wichita 2, Kans. Alfred D. Peabody...... 333 First National Bank Building, Denver 2, Colo. Glenn A. Railsback...... 408 National Bank Building, Pine Bluff, Ark.

Committee on State Legislation Raymond D. Willard, Chairman...... 50 Congress Street, Boston 9, Mass. Raymond D. Ashman...... 1356 Union Commerce Building, Cleveland, Ohio Roy C. Comer...... Dexter Horton Building, Seattle 4, Wash. Edward J. DeVerges...... 717 Whitney Building, New Orleans, La. Thornton G. Douglas...... 530 West Sixth Street, Los Angeles 14, Cal. Albert E. Godfrey...... 1416 Industrial Trust Building, Providence 3, R. I. Clifford V. Heimbucher...... 220 Bush Street, San Francisco 4, Cal. James W. Hickey...... 750 Main Street, Hartford 3, Conn. Gordon L. Kauffman ...... 1020 Michigan Trust Building, Grand Rapids 2, Mich. E. Woody Kuhlman...... 231 West Wisconsin Avenue, Milwaukee 3, Wis. Albert E. Larsen...... 1010 Foshay Tower, Minneapolis 2, Minn. Bruce H. Masters...... 333 First National Bank Building, Denver, Colo. Robert L. Miller...... 428 Chestnut Street, Lebanon, Pa. J. Sydnor Mitchell...... 403 East Franklin Street, Richmond, Va. Lee J. Muren...... 1018 Arcade Building, St. Louis 1, Mo. Russell G. Rankin...... 30 Broad Street, New York 4, N. Y. Raymond E. Rickbeil...... 921 First National Bank Building, Springfield, Ill. Allen E. Strand...... 404 Southeastern Building, Greensboro, N. C. Ralph J. Whitinger...... 114 South Franklin Street, Muncie, Ind. William R. Winn ... .306 Williamsport National Bank Building, Williamsport, Pa. 24 American Institute of Accountants

Committee on Stock Brokerage Accounting

Frederick W. Wulfing, Chairman...... 120 Broadway, New York 5, N. Y. Harry E. Dieter...... 90 Broad Street, New York 4, N.Y. M. Tyndall Hiatt...... 75 West Street, New York 6, N.Y. Murdock N. MacRae...... 67 Broad Street, New York 4, N. Y. R. William Rose...... 56 Pine Street, New York 5, N. Y.

Committee on Systems and Internal Accounting

J. Arthur Marvin, Chairman ...... 100 Broadway, New York 5, N. Y. Eric A. Camman...... 310 East 44th Street, New York, N. Y. Will-A. Clader...... 903 Packard Building, Philadelphia, Pa. Joseph Pelej...... 56 Pine Street, New York 5, N. Y. Percy M. Smith, Jr...... 403 East Franklin Street, Richmond, Va. Stanley W. White...... 80 Federal Street, Boston 10, Mass.

Committee on Technical Sessions

Joel D. Harvey, Chairman...... 80 Federal Street, Boston 10, Mass. J. Herman Atkins, Jr...... 1220 Central National Bank Building, Richmond 19, Va. A. Stanley Harmon...... 1 Atlantic Street, Stamford 5, Conn. George Little...... 701 Joplin National Bank Building, Joplin, Mo. N. Loyall McLaren...... 444 California Street, San Francisco 4, Cal.

Committee on Wages and Hours

Frank J. Donohue, Chairman...... 67 Broad Street, New York 4, N. Y. Benjamin Goldenberg...... 12 South 12th Street, Philadelphia, Pa. Ernest O. Lothrop...... 56 Pine Street, New York 5, N. Y. A. H. Puder...... 60 Park Place, Newark, N. J. Harold I. Schlenker...... 90 Broad Street, New York 4, N. Y.

AMERICAN INSTITUTE OF ACCOUNTANTS FOUNDATION

Officers and Board of Trustees

J. Harold Stewart, President ...... 50 State Street, Boston 9, Mass. Maurice Austin, Vice President .60 East 42nd Street, New York 17, N. Y. Warren W. Nissley, Treasurer ...... 1 Cedar Street, New York 5, N. Y. John L. Carey, Secretary...... 270 Madison Avenue, New York 16, N. Y. William M. Black...... 70 Pine Street, New York 5, N. Y. Percival F. Brundage...... 56 Pine Street, New York 5, N. Y. J. William Hope...... 886 Main Street, Bridgeport, Conn. Prior Sinclair...... 90 Broad Street, New York 4, N. Y. List of Committee Members 25

AMERICAN INSTITUTE BENEVOLENT FUND, INC.

Officers and Board of Trustees Frederick H. Hurdman, President...... 43 Broad Street, New York 4, N. Y. Warren W. Nissley, Treasurer...... 1 Cedar Street, New York 5, 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. N. Loyall McLaren...... 444 California Street, San Francisco 4, Cal. Robert H. Montgomery...... 90 Broad Street, New York 4, N. Y. George S. Olive...... 528 Chamber of Commerce Building, Indianapolis 4, Ind. C. Oliver Wellington...... 111 Broadway, New York 6, N. Y.

TRIAL BOARD American Institute of Accountants For three years Robert L. Chesnutt...... 208 South LaSalle Street, Chicago 4, Ill. Roy C. Comer...... Dexter Horton Building, Seattle 4, Wash. M. C. Conick...... First National Bank Building, Pittsburgh, Pa. Walter G. Draewell...... 100 Bush Street, San Francisco 4, Cal. Russell C. Harrington...... 1702 Industrial Trust Building, Providence 3, R. I. John C. Martin...... 33 North High Street, Columbus, Ohio John A. Peyroux, Jr...... 2215 American Bank Building, New Orleans, La. For two years Frederick H. Hurdman, Chairman...... 43 Broad Street, New York 4, N. Y. George D. Bailey...... 1380 National Bank Building, Detroit 26, Mich. J. William Hope...... 886 Main Street, Bridgeport, Conn. George S. Olive...... 528 Chamber of Commerce Building, Indianapolis 4, Ind. J. A. Phillips...... Second National Bank Building, Houston 2, Texas T. Dwight Williams...... 2220 First National Building, Oklahoma City 2, Okla. One vacancy For one year T. Coleman Andrews...... American Building, Richmond 6, Va. Samuel J. Broad...... 70 Pine Street, New York 5, N. Y. William J. Carter...... 800 Peachtree Building, Atlanta 3, Ga. Ralph B. Mayo...... 1200 Security Building, Denver 2, Colo. J. Harold Stewart...... 50 State Street, Boston 9, Mass. Edward B. Wilcox...... 120 South LaSalle Street, Chicago 3, Ill. One vacancy PROCEEDINGS OF THE ANNUAL MEETING LOS ANGELES, CALIFORNIA

American Institute of Accountants

November 1, 1949

he sixty-second annual meeting of Charles Brower, president of the Los An­ the American Institute of Account­ geles Chapter of the Institute of In­ Tants, at the Biltmore Hotel, Los Angeles,ternal Auditors. California, convened at 9:00 A.M., No­ Professor Norman D. Clark, head of the vember 1, 1949. Percival F. Brundage, department of accounting in Woodbury president of the Institute, presided. College. J. Robert White, president of the Cali­ Harold J. Cornish, member of the board fornia Society of Certified Public Ac­ of governors, Certified Public Account­ countants, extended a welcome to those ants Association of Ontario, Canada. present. Minutes of the annual meeting of Sep­ Lloyd C. Hall, dean of the College of tember 21, 1948, were approved as printed Business Administration, University of and circulated to the membership. San Francisco. The chairman welcomed the following Ben L. Perrin, president of the Los An­ guests: geles Bank Credit Managers Associa­ Mrs. Marion A. Frye, president of the tion. American Woman’s Society of Certi­ George E. Jones, vice chairman of the fied Public Accountants. California Committee Investment Perry Mason, president of the American Bankers Association. Accounting Association. Howard A. Judy, regional administrator, Edwin E. Balling, Jr., regional vice presi­ Securities and Exchange Commission, dent of the Controllers Institute of San Francisco. America. Dr. Charles Lamden, accounting depart­ Robert N. Miller, formerly chairman of ment, San Diego State College. the tax section, American Bar Associa­ Robert A. Riddell, Assistant Collector of tion. Internal Revenue, Los Angeles. Earle C. King, Chief Accountant of the Herbert A. Smith, Assistant Corporation Securities and Exchange Commission. Commissioner, Los Angeles. C. L. King, secretary of The Dominion W. T. Tangrow, technical adviser, Pacific Association of Chartered Accountants. Coast Division, Bureau of Internal W. Leslie Rogers, president of the Los Revenue, Los Angeles. Angeles Chapter of the National Asso­ William N. Walsh, Tax Commissioner, ciation of Cost Accountants. State of California. Professor O. R. Anderson, chairman of Frederick W. Woodbridge, head of the the accounting department, University accounting department, University of of Santa Clara. Southern California. George D. Morton, Department of In­ Pierce Works, vice president of the State ternal Revenue, California. Bar of California. 26 Proceedings of the Annual Meeting 27

George Workman, secretary of the Los The motion was seconded. Angeles Chapter of the National Asso­ Parry Barnes moved as an amendment ciation of Cost Accountants. to the motion that adoption of the reso­ Victor Storley, head of the accounting de­ lution be made as a recommendation to partment of Fresno State College. members of the Institute, and not as a Clyde D. Punterson, corporation division mandatory procedure. The amended mo­ of the California Franchise Tax Com­ tion was seconded. sioner’s office. At the request of the chairman, Alvin R. Jennings, chairman of the committee The chairman announced that the In­ on auditing procedure, spoke on the effect stitute of Chartered Accountants in Eng­ of adoption of Statement on Auditing land and Wales had been unable to send Procedure No. 23. one of its officers from abroad to attend the The amended motion was put to a vote, meeting, and had appointed Mr. William and failed. Eyre to act as its representative. Mr. The chairman called for a vote on the Eyre was introduced and extended best original motion to adopt the resolution as wishes from the council and members of proposed in the council report. The mo­ the Institute. tion carried. Upon invitation of the chairman, Louis Upon motion duly seconded, the report G. Pastor, president of the Instituto de of council and all acts of council during Contadores Publicos Titulados de Mexico, the year were approved. gave an address on the activities of the The chairman introduced Harold Mock, profession in Mexico. president of the Massachusetts Society of Harvey R. Doane, president of The Certified Public Accountants, who ex­ Dominion Association of Chartered Ac­ tended a cordial invitation to those pres­ countants, was introduced by the chair­ ent to attend the next annual meeting man. Mr. Doane extended greetings from which will be held in Boston in October, Canada and spoke briefly on mutual prob­ 1950. Mementos were distributed as a re­ lems of the profession in Canada and minder to attend the meeting, which will United States. have as its theme, the Boston Tea Party. The president read his report.1 Raymond J. Hannon presented the re­ J. William Hope presented the report port of the auditors.3 On motion duly of council.2 seconded, the report was received. Mr. Hope moved adoption of the fol­ Donald P. Perry, chairman of the board lowing resolution proposed in the council of examiners, awarded the Elijah Watt report: Sells scholarship prizes to the following Resolved, That Statement on Audit­ accountants who had received highest ing Procedure No. 23, entitled Clarifica­ grades in the November, 1948, and May, tion of Accountant’s Report When Opin­ 1949, examinations: ion is Omitted, as revised in accordance with a resolution of the council of the November 1948 Institute adopted May 3, 1949, which First prize (gold medal)—Samuel modifies certain provisions of Statement Rees, III. Kansas City, Missouri. on Auditing Procedure No. 1, Extensions Second prize (silver medal)—Irl of Auditing Procedure, approved at the Roosevelt Robinson, Berkeley, California. annual meeting of members of the Insti­ tute at San Francisco, October, 1939, be May 1949 and hereby is approved by the members First prize (gold medal)—Robert Jun­ assembled at the annual meeting of the ius Smith, Provo, Utah (Illinois candi­ Institute at Los Angeles, November 1, date). 1949. Second prize (silver medal)—Homer 1 Published in The Certified Public Account­ Augustus Black, Athens, Georgia. ant, December 1949. 2 Published in Annual Reports for the Year 3 Published in Annual Reports for the Tear 1948—1949, American Institute of Accountants. 1948-1949, American Institute of Accountants. 28 American Institute of Accountants

Mr. Perry announced that honorable Maurice Austin, New York mention had been given the following ac­ George O. Carlson, California countants : James I. Keller, Jr., Florida November 1948 Maurice H. Stans, Illinois Robert Davis Miller, Hartford, Con­ necticut. A motion was made and seconded that the nominations be closed and that the May 1949 secretary cast one ballot for the candi­ William David Labaw, Detroit, Michi­ dates named. The motion carried, the gan (Illinois candidate). ballot was cast, and the members named T. Dwight Williams, chairman of the were declared elected. committee on annual awards, presented a Mr. Bailey announced that the commit­ certificate of award to Hiram T. Scovill, tee on nominations proposed Warren W. of the University of Illinois, in recogni­ Nissley, of New York, for treasurer. A tion for outstanding service to the ac­ motion was made and seconded that the counting profession rendered over a nominations be closed and that the secre­ period of almost forty years, through his tary cast one ballot for the election of Mr. educational activities as head of the Ac­ Nissley as treasurer. The motion carried, counting Department of the University the ballot was cast, and Mr. Nissley was of Illinois. declared elected. Mr. Williams then presented to Colonel The chairman of the nominating com­ Robert H. Montgomery a certificate of mittee presented the names of the follow­ award for the outstanding book of the ing members proposed for members of year in the field of accounting or audit­ council: ing, in recognition of the seventh edition of his book on Auditing, representing the For members of council at large culmination of many years’ contributions (Three-year term) to this phase of accounting literature. T. Coleman Andrews, Virginia Colonel Montgomery acknowledged the J. William Hope, Connecticut presentation with a few words of advice Prior Sinclair, New York to the younger men of the profession. (One year term to fill vacancy) The chairman announced that the next William M. Black, New York order of business was election of officers For members of council and members of council for the ensuing (Three-year term) year and outlined the bylaw procedures Paul K. Webster, California under which the committee on nomina­ Stanley V. Davies, Colorado tions prepared and presented its report. Thomas J. Reedy, Illinois Upon request of the chairman, George Edward J. McDevitt, Massachusetts D. Bailey presented the report of the Coleburke Lyons, Michigan committee on nominations, proposing J. John D. Morrison, Michigan Harold Stewart, of Massachusetts, for Lee J. Muren, Missouri president. It was moved that the nomina­ Edwin W. Norberg, Minnesota tions be closed and the secretary cast one Arthur B. Foye, New York ballot for the election of Mr. Stewart as Raymond J. Hannon, New York president. The motion was seconded and John B. Inglis, New York carried, the ballot was cast, and Mr. J. K. Lasser, New York Stewart was declared duly elected. Mr. Simon Loeb, New York Stewart expressed his thanks for the Carl H. Zipf, Pennsylvania honor conferred upon him, and, at the re­ Marquis G. Eaton, Texas quest of the chairman, assumed the chair. Clifton H. Morris, Texas The following names offered by the (One year term to fill vacancy) nominating committee for vice presidents Alexander Eulenberg, Illinois were presented: E. Woody Kuhlman, Wisconsin Proceedings of the Annual Meeting 29

It was moved and seconded that the 2. Practical approach to auditing inven­ nominations for council members be tories and receivables of smaller clients closed, and that the secretary cast one bal­ —Clifford V. Heimbucher. lot for the election of those named. The 3. Adequate statements for credit purposes motion was carried, the ballot was cast, —T. W. Johnson. and the members named were declared 4. Round-table discussion—Leader: Ira elected. The chairman introduced the four vice N. Frisbee1 presidents for the ensuing year, who rose Tuesday, November 1st in acknowledgment. 2: 30 P.M.—Technical Session The chairman announced that the next Tax Settlement Procedures order of business was election of five Mark E. Richardson, Chairman members of the committee on nominations for the current year. The following were Speakers: Charles D. Hamel, Aubrey R. nominated by Edward B. Wilcox, who Mars. stated that, in accordance with the pro­ 8:00 P.M.—Technical Session visions of the bylaws, the council had Current Developments in Income Taxa­ elected Percival F. Brundage, of New tion York, and Samuel W. Eskew, of Ken­ Scott H. Dunham, Chairman tucky, to serve on the nominating com­ mittee, the first named to act as temporary 1. Review of recent decisions and rulings chairman until the committee elected a —Russell S. Bock. permanent chairman: 2. Problems in determination of taxable income—Wallace M. Jensen. Fred P. Carleton, Colorado Donald B. Carmichael, Oregon Wednesday, November 2nd Fred G. Eichhorn, North Carolina 9: 00 A.M.—Technical Session Oliver W. Seifert, Ohio Government, Industry, and Accounting in Norman H. S. Vincent, Massachusetts the ’Fifties It was moved and seconded that the George O. Carlson, Chairman nominations be closed and that the secre­ 1. Significance to accountants of funda­ tary cast one ballot for the election of mental changes in government—Norris those named. The motion carried, the bal­ Poulson. lot was cast, and the members named 2. Economy in federal government—John were declared elected. W. Hanes. On motion duly seconded, the meeting adjourned sine die. 3. Trends in interpretation of business profits—Neil H. Jacoby. Technical Sessions 2:30 P.M.—Technical Session The committee on technical sessions, Progress in Theory and Practice2 under the chairmanship of George O. Carman G. Blough, Chairman Carlson, arranged the following tech­ Alvin R. Jennings, Samuel J. Broad, Co- nical sessions, the papers from which are chairmen published in Technical Papers from the Sixty-Second Annual Meeting. Discussion by panels of members of com­ mittee on auditing procedure and com­ Monday, October 31st mittee on accounting procedure, and 2: 30 P.M.—Technical Session from the floor. Problems in Rendering Accounting Serv­ Work of study group on concept and ter­ ices to Small Business minology of business Income—George Wilbur S. Grant, Chairman O. May. 1. Investigative procedures in audits for 1Will not be published. embezzlement—Leonard B. Johnson. 2 Will not be published. 30 American Institute of Accountants

Entertainment day ; a tour through Hollywood-by-Night, The highlights of the entertainment Griffith Park Observatory, Chinatown, program, developed by the committee on and famous Olvera Street on Tuesday; meetings under the chairmanship of and a luncheon and fashion show at Thornton G. Douglas, were the luncheon Bullock’s Pasadena and a visit to Hunt­ in the Biltmore Bowl on Tuesday, at ington Library and Art Gallery, on which Jean Hersholt (Dr. Christian) was Wednesday. the speaker, and the dinner dance on The golf tournament was held at the Wednesday evening, which was preceded Los Angeles Country Club on Thursday. by a reception and cocktail party. The Arrangements for the tournament were committee also arranged a reception for made by the golf committee under the early arrivals on Sunday, and a general chairmanship of William E. Ware. G. W. reception and cocktail party on Monday. Sinderson, of Missouri, with low gross The ladies’ committee, under the chair­ score, won the Jay Golf Trophy, for the manship of Mrs. J. Robert McCoy, ar­ second consecutive time. The Missouri ranged a sightseeing tour through Holly­ Golf Trophy was awarded to the team of wood, Sunset Boulevard to the beach and the California Society of Certified Public return on Wilshire Boulevard, on Mon­ Accountants.