N ., t I

B U L L E T I N

T u n e (� Ap" I n Two Sections1958 Section 2

In the News

Lybrand Award Committee Appointed 3

Conference News 5

1958 -59 Conference Program Listed 7

Olean- Bradford Chapter Established 10

Annual Conference Program Announced 12 -13

Photos of Chapter Activities 17

N.A.A. Authors to Receive Certificates of Merit 19

Congratulations To 8

In The Public Eye 15

Chapter Competition

23

N.A.A. BULLETIN� c� � non

9fR�

Volume X X X I X , No. 10

June, 1958

Published by NATIONAL ASSOCIATION OF ACCOUNTANTS

505 PARK AVE NUE, NEW YORK 22, N. Y.

B U L L E T I N B O A R D

S u m m e r R e a d i n g

Occasionally it is charged that the atmosphere of summer, despite the

habi t of " taking a book along" on tr ips and weekends , is less conducive

to reading than the busier months of the year. On the other hand, the

summer can be a "brush -up" or "get- s tarted- thinking" period in which any

relaxat ion of day -to -day tasks results in time for better preparation to

meet future pressures.

Manuscripts for inclusion in the July and August issues of Section 1 of

the Bulletin have been selected in that light. The July issue will contain

a number of art ic les with small company emphasis. (But what large com-

pany is not "small" in many of its operations or cannot benef it from a

simpler view of things ?) Useful reporting is stressed. The August issue will

return to prominence in major articles some topics of importance which

have lacked recent attention. Among these are " l i fo " , the pros and cons

of cost -based and "current value" depreciation, and certain areas of

government contracting and subcontracting. Considerations in new prod-

uct evaluation and in sales forecasting are also August art ic le topics.

Happy (and useful ) reading!

Th is Bullet i n is published monthly by the Nat ion a l Association of Accountants, 505 Park Ave ., NewYo rk 22, N . Y. Subscription price, $10 p e r y ea r . Reentered as second -cla ss ma tter Sept ember 22, 1949,

at t he Pos t Office , Ne w Yo rk , N. Y . , u n d er t h e A c t o f Ma rc h 3, 1879.

N. A .A . B U LLE TIN , Formerly N. A. C . A. BULLETIN, Vo l. X X X I X , No . 10, Ju ne , 1958

Foun ded 1919 a s T H E NATIONAL ASSOCIATION OF COST ACCOUNTANTS

Ninth Lybrand Awards Committee Selected

THE WI NNERS of the Gold and SilverMedals and twenty certificates of meritin the Lybrand Awards manuscript com-petition will be determined this month. Alast minute check indicates a wealth ofexcellent and high - quality manuscriptmaterial to challenge the deliberations ofthe Lybrand Awards Committee whosethree members are charged with the selec-tion of the two manuscripts to win thefirst place Gold Medal and the runner -upSilver Medal.

National President Scott has announcedthat the Awards Committee will be madeup of three men who have long servedthe Association with distinction in variouscapacities. Each has served a term asnational vice - president and is a past pres-ident of his chapter. These men areWilliam T. Brunot, Richmond Chapter,Chairman of the Committee; Robert B.Service, Jr., Worcester Chapter; and Leon-ard E. Zastrow, Milwaukee Chapter.

Mr. Brunot, a member since 1936, wasa national director (1949 -53), a nationalvice - president (1953 -54), a member ofthe Research Committee (1950 -51), andis presently a member of the ResearchPlanning Committee. He is the author ofa manuscript printed in the Bulletin,June,1956. He is Controller of the ReynoldsMetals Co., Richmond, Va.

Mr. Service became a member ofN.A.A. in 1923, and has served as na-tional director (1939 -40), as a memberof the Nominating Committee for 1937and again in 1956, and as vice - president

WILLIAM T. BRUNOT

ROBERT B. SERVICE, JR.

JU NE , 1958 3

(1952 -53). He was author of an articlein the July 1931, issue of the Bulletin.

He was Internal Auditor of the NortonCompany, Worcester, Mass., prior to hisretirement in 1956.

Mr. Zastrow became a member in 1933and was a national director (1940 -42) ,vice - president (1954 -55) and a memberof the Committee on Objectives andName (1956 -57). He has authored sev-eral articles which have appeared in theBulletin.He is presently serving his com-pany, the Bucyrus -Erie Co., Milwaukee,Wisconsin, as Assistant Controller.

The Gold and Silver Medals will bepresented by Bill Brunot, Chairman ofthe Committee at the annual dinner,scheduled as the closing function of the39th annual conference later this monthin Chicago. The Certificates of Merit will

LEONARD E. ZASTROW

be presented as a feature of the annualbusiness meeting and elections, also heldduring the annual conference.

W E R E M E M B E R

James H. Finley, 42, DALLAS (1949), withthe Oil Well Supply Division, U.S. SteelCorporation. Mr. Finley was Past Presi-dent of Dallas Chapter (1953 -54).

William M. Bechler, 67, AKRON (1923),Assistant Controller, B. F. Goodrich Com-pany, Akron, Ohio. Mr. Bechler was anEmeritus Life Associate of N.A.A.

William A. Oberhol+ser, 57, BATON ROUGE(Tulsa, 1944), Vice President of DeltaTank Mfg. Co., Inc., Baton Rouge, La.

James E. Keys, 53, CHICAGO (Portland1947), with the Public AdministrationService, Chicago.

Valiance H. Bowen, 64, Los ANGELES(1930), with National Automation Fibres,Inc. Mr. Bowen was Past President ofLos Angeles Chapter (1938 -39) .

Curtis A. Buckminster, 49, MID HUDSON(1954), with The Walden TelephoneCompany, Walden, N. Y.

Bernard Sohmer, 43, NEW YORK (1942),practiced public accounting in New York,and headed the B. Sohmer C.P.A. firm inNew York City.

Cloy M. Dowda, 51, CUBA (Memphis 1.944), Joseph A. Franklin, 41, NEWARK (1950),with Firestone Interamerica Co., Havana, Manager — Newark Office, Statistical Tab -Cuba. ulating Co., Newark, N. J.

4 N.A.A. BULLETIN

C O N F E R E N C E N E W SAnnual Conference in final stages of planning.... 1958 -59 conference programannounced, featuring seminar, subject, regional meetings and the 40th International

Accounting Conference

THE FINAL EVENT In the 1957-58 con-ference schedule, of course, is the an-nual conference, and that traditional affairis just days away. By now, a great manymembers have already mailed their ad-vance registrations to National Headquar-ters, made their hotel reservations andotherwise completed their plans to attendthe 4 -day meeting.

To the hundreds of other members whohave delayed their decisions to attend forone reason or another, this is as good atime as any to make your move in favorof Chicago and the 39th International Ac-counting Conference. Talk over the pro-gram and your plans with your boss, dis-cuss the various activities with your wifeand join your co- members and friends atthe Conrad Hilton the fourth week inJune (Jane 22 -25). You may be interestedin tieing in your vacation with the annualconference. Many members have donethat, and it is becoming an increasingly -popular means of making the trip doublyworthwhile.' Chicago has many charmsfor the vacationer —big city activities andalso resort -flavor attractions. (Remember!Chicago is a lake front city with wonder-ful beaches and parks and all the acces-sories) .

Program Completed

The center spread of this issue carriesa listing of the talks, discussion topics,

speakers, discussion leaders and sessionchairmen for the three days of technicalmeetings. George Wachhola, chairman ofthe Program Committee reports that allphases of the program are completed andall speakers and other program partici-pants' have been assembled. Advance in-formation about the talks and other tech-nical presentations point to a notable pro-

gram.Last month's "Conference News" arti-

cle in Section 2 listed a schedule of eventsand may be referred to for a run -down ofthe many activities planned for your en-lightenment and pleasure. The conferencemailing which you received 3 or 4 weeksago has the activities described in greaterdetail, and also provided forms for ad-vance registration, hotel accommodationsand annual dinner reservations. If you'vemislaid yours, your chapter secretary hasa supply, or contact National Headquar-ters for a duplicate mailing, which will besent you by return post.

1958 -59 Conference ProgramAnnounced

Next year's conference program will bean unusually well- rounded one. Of specialnote will be the introduction of a newtype of conference never before providedmembers. This expression of the Associ-ation's expanding conference service willbe a three -day meeting in which the sub-

JU NE , 1958 5

ject "Experience with Direct Costing" will

be taken up in a series of talks, group

discussions, case histories and buzz ses-

sions.

Two seminars on "Return on Capital

Concept —For Planning and Appraisal"have also been planned. Last year, as you

recall, the Association initiated the sem-

inar -type conference with conspicuous suc-

cess. Seminars are comprised of one or

more groups meeting simultaneously to

discuss the many ramifications of a single

subject. Each group has from fifteen to

eighteen participants, and it is part of the

planning to assign persons of like experi-

ence and interests together in the same

group. Three seminars were conducted

last year —in Pittsburgh, San Francisco,and Houston. Experience with these indi-

cate that the seminar -type meeting may

Scenes from Boston Regional

A scene at the Registration Desk. Standing left toright are H. Roberts, P. Devlin and P. Tierney. Seatedare Mrs. P. Urpton Miss Rita Keough and Miss Mary

McDonough, all members of Boston Chapter.

achieve very favorable and useful results Fred Songstacke addressed the Boston Regional (heldA ril 18g on the depreciation problenY. Sessionfor participants, whether there is one

Chairman P. Ferguson is at left; Program Committee

P P Chairman Mike Odermatt is at right.group or twenty groups at a seminar meet-

ing.

Three regional conferences and the 40th

International Accounting Conference com-

plete the 1958 -59 conference program.

On the following page is outlined thecomplete conference schedule, including a

proposed list of chapters, which may be

expected to participate in each regional

conference.

A section of the head table at the conference dinner.Left to right are P. Herring, A. Smith, National Presi-dent Scott, P. Tierney (Conference Committee Chair.man), E. Trapp and N. Vincent. Messrs. Herring,Smith and Trapp are current national Vice Presidents.

Mr. Vincent is a Past N.A.A. Vice President.

6 N.A.A. BULLETIN

1958 -59 CONFERENCE PROGRAM

REGIONAL CONFERENCES

BUFFALO, N. Y. — October 31 & November 1, 1958 — Stotler Hotel

Akron Elmira Area Northern New YorkAlbany Erie Olean- Bradford AreaBeaver Valley Jamestown PittsburghBinghamton Mid - Hudson RochesterBuffalo* Mohawk Valley SyracuseCleveland North Central Ohio YoungstownColumbus * Sponsoring Chapter

TULSA, Oklahoma — February 27-28, 1959 — The Mayo Hotel

Baton Rouge Jackson San AntonioCedar Rapids Kansas City ShreveportDallas Memphis Tri- CitiesDenver Oklahoma City Tulsa*Des Moines Omaha WaterlooFort Worth Sabine WichitaHouston St. Louis * Sponsoring Chapter

BALTIMORE, Md. — April 3 -4, 1959 — Lord Baltimore Hotel

Baltimore*DelawareHagerstownHampton RoadsHarrisburgLancasterLehigh Valley

NewarkNorth PennPatersonPhiladelphiaPiedmontRaritan ValleyReading

SEMINARS

RichmondScrantonTrentonWashington, D. C.WilliamsportYork* Sponsoring Chapter

NEW YORK, N. Y. — October 16 -17, 1958 — Barbizon Plaza HotelST. LOUIS, Mo. — October 23 -24, 1958 — The Stotler Hotel

SUBJECT CONFERENCE

CLEVELAND, Ohio — March 12 -14, 1959 — Hotel to be announced later

40th INTERNATIONAL ACCOUNTING CONFERENCE

NEW YORK, N. Y. — June 21-24, 1959 — The Waldorf- Astoria

J U N E , 1 9 5 8 7

C O N G R A T U L A T I O N S T O

Robert Katzenmeyer, AKRON, named Assist-ant Professor of Accounting, College ofBusiness Administration, Akron Univer-sity.

John F. Heinz, ALBANY, promoted to Con-troller of General Aniline and Film Cor-poration, Rensselaer, New York.. . . JoeDe Russo named Controller of BreslawBros., Schnectady.. . . Tom McCabe, onformation of the law firm of McCabe,Plowden- Wardlaw and Littlefield.

William Hurt, ATLANTA, promoted to Manu-facturing Analyst for Planning and Con-trol, Colonial Stores, Inc.

Frank Swisher, BOSTON, elected to the Boardof Directors of Dennison ManufacturingCompany.

Russell C. Flood, BROOKLYN, named GeneralOperations Manager, in addition to beingAssistant Secretary and Assistant Treasurerof Schrader's Son, Division of Scovil Man-ufacturing Company. . . . E. D. Hoffmanpromoted to Supervisor of Systems, Pro-cedures and Management Controls, LewytCorp., Long Island.

Edward D. Brown, BUFFALO, elected to Ex-ecutive Vice President of Harold D. Far-ber, Inc ., Buffa lo . . . . Richard Perry hasbeen made Assistant Comptroller of Hook-er Electrochemical Co., Niagara Falls,N . Y . . . . Richard W. James appointedOffice Manager of Faysan Distributors, Inc.

Albert W. Nehart, CHICAGO, promoted toChief Cost Accountant of the HamiliouGlass Company. . George R. Nortonnamed Budget Manager; R. A. Swensonnow Assistant Budget Manager; R. N.Greisch Manager of Factory Accounting;L. A. Barczak appointed to Staff Assist-ant to the Manager of Factory accounting.and E. A. Foley Staff Assistant to theAssistant Treasurer, all of Automatic Elec-tric Co.. Northlake, Illinois.

Paul Kertis, CLEVELAND, named AssistantTreasurer of the V. D. Anderson and Com-pany. . M. Collier promoted to As-sistant Vice President of Union CommerceBank.

Vincent P. Blair, DAYTON, appointed GeneralManager of General Motors Corporation'sDelco Products Division. . Ben S.Graham made Director of the Systemsand Procedures Division of Standard Reg-ister Company.

R. D. Pettit, HOUSTON, is now with the Mul-vey Co. . . . G. M. Burrows named Con-troller of the Puerto Rico Container Co.,San Juan.

John Rehme, INDIANAPOLIS, named Managerof Marchant Calculators. . C. Longnow Faculty Associate of Indiana Univer-sity.

M. Williams, JACKSON, now with the Account-ing Department of the Lloyd Ford Co.

T. Currie named office Supervisor ofMasey- Harris Ferguson, Inc.... J. Tullospromoted to the position of Cashier ofthe First National Bank of Jackson.

J. E. Merrill, KANSAS CITY, made instructorat the Customer Education Center of IBMin Endicott, N. Y . . . . D. N. Jones pro-moted to Director of Data Processing Per-sonnel at IBM's home office, White Plains,N . Y.

R. W. Rose, LEHIGH VALLEY, elected VicePresident— Finance of the Lehigh PortlandCement Co., Allentown, Pennsylvania.. ..Dr. W. Trumbull named Head of the De-partment of Business Administration ofLehigh University.

M. Myerson, LOS ANGELES, elected Controllerand Assistant Treasurer of Olympic Plas-tics Company, Inc .. . . W . J. White madeOffice Manager of Peter Sarot, Co., Ltd.,Pasadena. . . . R. E. Freed now ChiefCost Accountant at Signal Trucking Serv-ice, Ltd. . . . W. A. Clark named ChiefAccountant and Office Manager at J. J.Jenkins Co.

N. M. Delisle, MERRIMACK VALLEY, appointedChief Accountant of the M.K.M. KnittingMills, Inc., Manchester, N . H . . . . H. A.Caruso promoted to Controller and Clerkof the Beach Soap Co.

O. G. Miltz, MILWAUKEE, now associated withTouche, Niv en, Bailey & Smart.. . . R. B.Nienow Assistant Secretary and AssistantTreasurer of Cornell Paperboard ProductsCo. . . . B. Lindstrom promoted to Man-ager of Plant Accounting and D. Brittalladvanced to Manager of General Account-ing, both at Miller Brewing Co.

N. Cooper, MINNEAPOLIS, elected to the Boardof Directors of SIFO Co. . C. Berlinadvanced to General Auditor of CargillInc. . T. Feig named General Auditorof the Lutheran Brotherhood Life Insur-ance Co.

N . A . A . B U L L E T I N

M. L. Shorell, DELAWARE, elected Controllerof J . J. Rogers Co., AuSable, N. Y . . .R. C. Downey & M. E. Tilley appointedgroup leaders of Cost and InvestmentAccounting Activities, Film Control Divi-sion, E. I. DuPont Company.

Art Kaufman, DETROIT, elected Vice Presidentin charge of Finance, Kuhlman ElectricCo., in addition to his present duties asTreasurer. . . . Jim Poulos promoted toDivision Controller of Jones and LaughlinSteel Corporation's Stainless Steel Divi-sion, Wa r r e n , O h io . . . . Phil Reid namedAssistant Comptroller of the De Soto Di-vision of Chrysler Corporation.. . . E. G.Sautter appointed Treasurer of the Mich-igan To ol Co. , De tro it . . . . K. C. Tifianyelected to the Board of Directors of Bur-roughs Corporation.

L. Flanary, EAST TENNESSEE, named Comp-troller of the Eastman Chemical Products,Inc., in addition to his present positionas Comptroller of Tennessee Eastman Co.

A. Farley, ELMIRA AREA, promoted toComptroller of the New York Sta te Elec-tric and Gas Corporation. . . . E. VanEtten now Plant Accountant at CorningGlass Works, Harrodsburg, Kentucky,plant.

Jack W. Sehrey, FORT WAYNE, promoted tothe position of Comptroller of MagnavoxCorporation. . L. Eisen named Man-ager of the Marion office of National CashRegister.

R. E. McHam, FORT WORTH, promoted toTreasurer ofthe Tex as S tee l Mfg. Co. .. .W. C. Bean now President of TubenfinCoil Co., Houston. . J. M. Ashleynamed to the Educational Division ofIBM in San Jose, California.

Hartley Voigt, FOX RIVER VALLEY, promotedto Vice President of Blockson ChemicalCo., division of Olin Mathieson ChemicalCorporation.

Bob Tetra, HARTFORD, named Manager ofFinance for Veeder Root Co. . . . JohnAngus appointed Manager of the Chicagooffice of Friden, Inc.

L. C. Vittingl, MOBILE - PENSACOLA, appointedVice President and Comptroller of theAlabama Dry Dock & Ship Building Com-pany.

S. A. Hopkins, NEW HAMPSHIRE, namedAgency Manager of Marchant Calculators,Inc., Manchester... . Ken Smith promotedto Vice President of Improved MachineryInc., and E. McCoy named Treasurer ofImproved Machinery Credit Union.

J U N E , 1938

Ivan Foley, NEW ORLEANS, elected Presidentof Live Modern, Inc. . . . A. lonsdaleon establishing his own public accountingfirm.

William E. Jacoby, NEW YORK, advanced toVice President and Treasurer of the A. R.Purdy Co., Lyndhurst, N . J. . M. M.Cortmell, upon formation of the man-agement consultant firm of Cartmell, Scott,& Associates, Inc .. . . H. H. Hammer hasbeen elected to the Board of Directors ofthe American Surety Co. of New York.

. J. Sonniehsen promoted to Controllerof S hu lton , In c . . . . D. A. Wells advancedto Manager of Accounting o f R.C.A. Vic-tor Record Division, New York City.

H. W. Eckardt, NORTH WISCONSIN, madePresident of the Morgan Co., of Oshkosh,and J . C. Bafaner promoted to Treasurerof that company.

J. Ferry, NORTH PENN., appoineed Auditor ofly'estmoreland Township for a six yearterm. . E. Inskip appointed Head ofthe Cost Department of Steel Heddle Mfg.Company.

Ray Howard, PENINSULA -SAN JOSE, promotedto Works Accountant in the Data Process-ing Division of IBM in San Jose. .R. F. Lyman advanced to General Man-ager of Project and Product Cost, GeneralElectric Co., San Jose.

S. Derbyshire, PHILADELPHIA, now Con-troller of Raytheon Electronics Corpora-tion, Waltham, Mass. . . Bob Anstock.upon forming the firm of R. N. Anstock& Associates.

Webb, PHOENIX, promoted to AssistantChief Accountant of the Arizona HighwayDept. . D. Cooley appointed Admie-istrafive Assistant to IBM's Regional Man-a g e r . . . . Lester Wruek admitted as Gen-eral Partner in the CPA firm of L. N.Treadaway & Associates.

W. B. Blaney, PITTSBURGH, named Assistantto Works Auditor at U.S. Steel Corpora-tion's Homestead Plant. . . C. W. Royston made Assistant Division Manager,Accounting and Office, New Orleans di-vision of Gulf Oil Corp.

Maynard Carter, WORCESTER, re- elected Sec-retary, Director and Controller of lForces-ter Pressed Steel Co., and elected to thepost of Treasurer, Secretary and Directorof the Mutual Products Corp.. Inc. asubsidiary of Worcester Pressed Steel Co.

P. Knau$ and H. Peterson, YOUNGSTOWN,named Secretary - Treasurer and Auditor,and Assistant Secretary and AssistantTreasurer, respectively, of the Ohio LeatherCompany.

Association Charters New Chapter

PLANS FOR A CHAPTER In the Olean-Bradford region were developed sev-eral months ago by a number of membersliving in the area while on their returnfrom an N.A.A. meeting in Jamestown,over fifty miles westward. All were inagreement that business and members inthe area would be more effectively serv-iced by the Association if a chapter couldbe established within the general Olean -Bradford area.

A preliminary survey was made, en-thusiasm grew, and in October of lastyear, the first organizational meeting ofthe group was held. Thirteen personsfrom nine companies and a representativefrom National Headquarters attended. At

that meeting an Organization Committeewas elected with David M. Murray as itschairman, and arrangements were made tocompile the information required for

chapter status. Industrial and member-ship potential surveys were soon accom-plished, and it became apparent that in-

terest and support for an N.A.A. chapterand future healthy growth prospects forit assured success for the founding of a

chapter in the area.The National Board of Directors ap-

proved the granting of a charter effective

April 1, 1958, and on April 23, the136th Charter of the Association was pre-sented to Dave Murray by National Presi-dent Harold Scott. Nearly one hundredcharter members and representatives from

Jamestown, Buffalo, Elmira Area Chap-ters, and other guests assembled at theHickey Memorial Dining Hall at St. Bon -aventure University, Olean, for the charternight ceremonies. Principal speaker of theevening was J. Curran Freeman, Control-ler of Dresser Industries, Inc., who dis-cussed managerial aspects of accounting.

Olean- Bradford Area Chapter territoryincludes all of McKean County in Penn-sylvania, and Allegany County and theeastern portion of Cattaraugus County inNew York. The chapters of Jamestownto the west, Buffalo to the north, Roches-ter to the northeast, and Elmira Area tothe east, all contributed territory whichcan be better served by the new chapter.The principal cities are Olean, Salamanca,Wellsville in New York and Bradford inPennsylvania. The population of the areaexceeds 150,000 and is supported by the

manufacturing of oil well equipment, cut-lery, explosives, engines, boilers, carbonblack, wooden tanks, furniture containers,tile and a variety of other products. Brad-ford is the center of extensive oil well and

oil refinery operations.The Olean- Bradford Area Chapter,

which was sponsored by the Jamestown

Chapter, begins operations with 98 chartermembers.

Rawn Brinkley, N.A.A. Assistant Sec-retary, directed the election of officers anddirectors. The first board of directors ofthe new chapter includes:

10 N.A.A. BU LL E TI N

Sfellar partic ipants in the Olean- Bradford charter ceremonies included, from left to right, David M. Murray(First President), Harold W. Scott (National President), Father Brian Lhota, OFM, (St. Bonaventure College),

Rawn Brinkley (Assistant National Secretary), and J. Curran Freeman (Speaker).

OfficersPresident —DAVID M. MURRAY, Clark

Bros. Co., Div. of Dresser Operations,

Inc., Olean, N. Y.

Vice President —S. JOHN GusON, St. Bon -aventure University, Olean, N. Y.

Vice President —EDWIN CLEMENS, ForestOil Corp., Bradford, Pa.

Treasurer —CARL H. PETERSON, BradfordSupply Co., Bradford, Pa.

Secretary —LLOYD W. SMITH, Clark Bros.Co., Olean, N. Y.

DirectorsEmployment — HOWARD E. RIORDAN,

Cuba, N. Y.

Meetings— ALBERT B. ROOP, JR., VanDer Horst Corp, of America, Olean,

N. Y.

Member Attendance— FRANCIS A. PIE -CHOTA, Daystrom Furniture, Div, ofDaystrom, Inc. , Olean, N. Y.

Membership— ROBERT S. ADAMS, AlcasCutlery Corp., Olean, N. Y.

Program —RALPH W. YTTERBERG, ClarkBros. Co., Div. of Dresser Operations,

Inc., Olean, N. Y.

Publications — RALPH W. CRAWFORD,Kendall Refining Co., Bradford, Pa.

Publicity— ALBERT H. THOMSON, DresserMfg. Div., Bradford, Pa.

JUNE, 1958 11

TECHNICAL PROGRAM - 39th

Chairman, Program Committee: GEORGE J. WACHHOLZ,

— MONDAY MORNING, JUNE 23 —

Session Chairman: BERNARD H. SEMLER, Freeman Shoe Corp., Beloit , Wis.

1. DEVELOPING THE ACCOUNTANT'S MANAGERIAL ABILITIES

Speaker: WILLIAM MACHAVER, Vice President, U. S. Reduction Co., East Chicago, Ind.

2. FRONTIERS OF ACCOUNTING —A LOOK AT TOMORROWSpeaker: FRANK WALLACE, Partner, Peat, Marwick, Mitchell & Co., New York, N. Y.

— MONDAY AFTERNOON, JUNE 23 —Session Chairman: PAUL L. NOBLE, The Ohio State University, Columbus, Ohio

1. OPERATIONS RESEARCH AND THE ACCOUNTANT

Chairman: KENNETH S. AXELSON, Partner, Peat, Marwick, Mitchell & Co., Chicago, III.

Speaker: DR. ARTHUR BROWN, Secretary, Arthur D. Little, Inc., Cambridge, Mass.

2. USING STATISTICAL CONTROLS AS AN ACCOUNTING AND MANAGEMENT TOOL

Chairman: EARLE MARTIN, SR., Treasurer, Gulf States Land & Industries, Inc., NewOrleans, La.

Speaker: OTTO H. KRAL, Applied Mathematics & Statistics Dept., Minnesota Mining &Mfg. Co., St. Paul, Minn.

3. USING RETURN ON CAPITAL EMPLOYED FOR PROFIT APPRAISAL

Chairman: D. G. HOFFMAN, Secretary- Treasurer, International Heater Co., Utica, N. Y.

Speaker: L. H. SPRONCK, Dir. of Mgmt. Services Dept., Lybrand, Ross Bros. & Montgomery,San Francisco, Calif.

4. LEARNING CURVE TECHNIQUES FOR DIRECT LABOR MANAGEMENT

Chairman: HUGH FONTAINE, Controller, Ryan Aeronautical Co., San Diego, Calif.

Speaker: ROLFE WYER, Vice President & Treasurer, Airtek Dynamics, Inc., Los Angeles,Calif.

S. NEW TECHNIQUES FOR JUDGING PROPOSED CAPITAL EXPENDITURES

Chairman: WILFRED REETZ, Controller, Stewart -Warner Corp., Chicago, III.

Speaker: HORACE HILL, Consultant, Berwyn, Pa.

6. CAPACITY UTILIZATION STUDIES FOR COST CONTROL & REDUCTION

Chairman: W. LANGENBERG, Ass't. Controller, Johnson & Johnson, New Brunswick, N. J

Speaker: I. WAYN E KELLER, Controller, Armstrong Cork Co., Lancaster, Pa.

12 N. A . A . B U L L E T I N

International Accounting Conference

Minnesota Mining & Manufacturing Co., St. Paul, Minn.

—TUESDAY MORNING, JUNE 24 —

Session Chairman: P. M. CHIUMINATTO, Charmin Paper Products Corp., Green Bay, Wis.

1. THE CHANGING COST - VOLUME- PROFIT RELATIONSHIP

Speaker: WILSON SENEY, Senior Consultant, McKinsey & Co., Inc., New York, N. Y.

2. THE ACCOUNTANT'S PART IN MEETING THE "PROFIT SQUEEZE"

Speaker: SAMUEL E. MAC ARTHUR, Treasurer, Federal- Mogul -Bower Bearings, Inc., De-troit, Mich.

—WEDNESDAY MORNING, JUNE 25—

Session Chairman: FIRMAN H. HASS, Ernst & Ernst, Detroit, Mich.

1. WHAT THE ACCOUNTANT SHOULD KNOW ABOUT MARKET RESEARCH

Speaker: GILMAN B. ALLEN, Vice President, Robert Heller & Associates, Cleveland, Ohio

2. MARKETING COSTS CAN BE CONTROLLEDSpeaker: CLARK SLOAT, Partner, Price Waterhouse & Co., New York, N. Y.

—WEDNESDAY AFTERNOON, JUNE 25—

Session Chairman: HAROLD M. BENSON, General Motors Institute, Flint, Mich.

SESSION A — For Representatives of Larger Companies

1. PLANNING FOR PROFITSSpeaker: J. C. FREEMAN, Controller, Dresser Industries, Inc., Dallas, Tex.

2. SYSTEMS AND PROCEDURES FOR THE ELECTRONIC AGESpeaker: PAUL PRIEST, Assistant Controller, Thompson Products, Inc., Cleveland, Ohio

SESSION B —For Representatives of Smaller Companies

1. FORECASTING AND PLANNING IN THE SMALLER COMPANIES

Speaker: WILLIAM E. WESTERDAHL, Public Cost Accountant, Minneapolis, Minn.

2. THE SMALL COMPANY CAN TAKE ADVANTAGE OFMODERN SYSTEMS & METHODS

Speaker: RALPH H. EIDEM, Director, Data Processing Div., Management Service Div.,Ernst & Ernst, Chicago, Ill.

JUNE, 1958 13

N.A.A. RESEARCH REPORTSAVAILABLE

T h e list be low sh ows tit le andpr i ce s of th e Res e a r ch Re por t s cu r -

rent ly ava il able . Whi le each of these

repor t s wa s d i s t r i bu t e d a t the t imeof i ts ini t i al publi ca tion , ma n y me m-

bers joined the association since

s ome of these repor t s were pub-lished . Now i s a n e x ce l l e n t t i me t o

r e vi e w you r a ccou n t i n g l i b r a r y a n d

to mak e sur e you h ave a l l t he se s i g-

ni fi cant repor t s . T h os e wh o wi s h t o

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IN THE PUBLIC EYE

Akron's DeWitt Cox elected President of theAkron Chapter of the National Societyof Business Budgeting, and E. J. Swartznamed Secretary of that chapter.

Baltimore's David L. Wilson addressed theBaltimore chapter of the American So-ciety of Women Accountants. His topicwas "Charting." . . . Robert T. Jeffersonis currently serving as President of theMcDonogh School Patrons Club. .William B. Pittsworth elected a memberof the Council of the American Instituteof Certified Public Accountants at theirrecent convention held in New Orleans.

Thomas R. Cornelius appointedTreasurer of the Baltimore chapter, Na-tional Office Management Association.

Baton Rouge's Robert Van Voorhis servedas general chairman at the annual con-ference of the southeastern section of theAmerican Accounting Association. .Harris Chustz is serving as President ofthe Baton Rouge chapter of the AmericanSociety of Certified Public Accountants.

. Don Plaisance addressed the mem-bers of Beta Alpha Psi Accounting Fra-ternity on "Accountants as Salesmen."

Boston's Ralph Campbell is President of theY.M.C.A. Reading branch in Boston. . . .Carr Fastener is now Vice President ofP.T.K. Fraternity at Northeastern Schoolof Business.

Buffalo's Frank L. Bradley has been nomi-nated to the Board of Trustees of theUnited Charities —Red Cross Appeal... .Robert G. Allyn gave a talk at the springmeeting of the Catholic Business Educa-tion Association at Niagara University.The subject of his talk was "The Impactof EDP on Business Education."

Cedar Rapid's Ed Rudin re- elected as Secre-tary of the Cedar Rapids Executive Asso-ciation, Inc. . . . Dr. James Carrithersrepresented Coe College at the recentIowa State Centennial Founder's Daycelebration. . George Ludlow electedco- chairman of the Tri State Credit Men'sconference to be held in Cedar Rapidsnext September. . Dan Sweeney ad-dressed the Eastern Iowa Chapter of theNational Machine Accountants Associationon "Are College Students Prepared to

Enter the Business World in This Age ofAutomation?"

Chicago's J. A. Beckett authored an articleentitled "The Essence of Direct Costing"published in the February issue of Busi-ness Budgeting. . . . Vernon Rutter re-cently conducted an American Manage-ment Association Seminar on the "Prepa-ration of Operating Budgets" held inNew York. . . . E. Kohler addressed theColumbus Control of the Controllers Insti-tute of America on "The 7th InternationalAccounting Conference a t The Hague."

Columbia's Wayne T. Showalter elected Gov-ernor, South Carolina Civitans for 1958-59. . Earl Fulmer named President,Columbia Optimist Club for 1958 -59.

Columbus' Paul Langdon gave a talk beforea secretarial class at Capital Universityon "What the Office Manager Expects ofSecretaries and Office Workers." Mr.Langdon also addressed the Central Ohiochapter of the Institu te of Internal Audi-tors on "What Management Expects Fromthe Internal Auditor." . Bob Cameronwas named to the Board of Trustees ofthe University Club.

Dayton's Myron Kem elected for a three yearterm as trustee of the Dayton YMCA,and Don Battelle was renamed to theBoard of Directors. . John H. Nethserved as chairman of the nominatingcommittee.

Elmira Area's Jack Gottko recently served asa leader of an American ManagementAssociation Seminar on "Uses of SalesForecasting in Production Planning."

Fall River —New Bedford's Len Demoran-ville elected President of the ToastmastersClub.

Greenwich- Stamford's T. King and H. Can-non were elected to the Board of Directorsof the Stamford Good Government Asso-ciation.

Indianapolis' Carl Burton is a member ofthe Executive Council of the IndianaSchool of Business Alumni.

Kalamazoo's Russ Kneen and LawrenceScudder were appointed co- chairmen ofthe Community Chest Auditing Com-mittee.

J U N E , 1 9 3 8 15

Kansas City's John C. Rose is currentlyserving as President of the Rock HillClub.

Los Angeles' Jack W . B. Stanley talked on"What Is I t Worth," before the ComptonRotary Club.

Mass. North Shore's James H. Bentley ap-pointed a member of the Personnel Boardof the town of Manchester.

Minneapolis' Dick Massopust recently electedto the Board of Directors of the Minne-apolis Athletic Club. . John Cliftnamed to the Government Contract Com-mittee of the National Association ofManufacturers. Wa l te r N . Norris electedto the Board of Directors of the St. PaulAthletic Club.

New Orlean's Ivan Foley was elected asRegional Director, a member of the Execu-tive Committee and Chairman of theBy -Laws and Ethics Committee of theHome Improvement Council. . . . VincentZanca named a Director of the NewOrleans Office Management Association.

New York's Fred Sengstacke recently deliv-ered a talk on income taxes over radiostation WABC in New York City. .N. Madison Cartmell has published a"Syllabus on Production Planning andControl," in part, for use in his classesat New York University's Graduate Schoolof Business Administration. Mr. Cartmellwas a lso a guest speaker at a seminar ofthe American Management Association on"Budgetary Control," which was chair-manned by New York 's Robert Browning.

Peninsula -San Jose's Ken Ricked addressedthe American Management Associationgroup on "Use of Financial Data inMaking Marketing Decisions."

Philadelphia's John L. Ricketts addressedthe Delaware County Realty Board on"Tax Planning is Good Business." .Benjamin L. Nelson received the firstannual achievement award from the Phila-delphia Chapter of the American Associa-tion of Hospital Accountants.

Pittsburgh's Willard F. Rockwell, Jr. ap-pointed to the Gas Industry TelevisionCommittee of the American Gas Associa-tion.

Providence's Harold Stallwood re- electedChairman of the Lincoln Budget Com-mittee.

Sacramento's Lambert Spronck spoke beforethe study conference of the NationalMachine Accountants Association on"Purposes of Installation —Was it MoneySavings or More Report?"

St. Louis' Ralph R. Neuhoff authored an arti-cle entitled "Cost Findings in a LawOffice; Determining Cost of Jobs" pub-lished in the November 1957 issue ofthe Journal of Taxation. Mr. Neuhoffalso addressed the Greater St. Louis Chap-ter of the National Association of LegalSecretaries on "Taxes and Tax Returns."

St. Paul's J. Gust was named Secretary ofthe Minnesota World Trade Association.He also served as Chairman of the Min-nesota World Trade Conference held inSt. Paul.

Salt Lake City's Dave Sanford gave a talkto the central chapter of the Utah Asso-ciation of Certified Public Accountants on"Punched Card Accounting."

San Diego's Keith Menzel was re- elected toa two year term on the Chula VistaCity Council.

Shreveport's Harry Bloomfield named Presi-dent of the Shreveport Chapter of theNational Office Managers' Association.

Tulsa's King Smith spoke on "A Case Studyon Purchasing" at a recent meeting ofthe Institute of Internal Auditors. .Stan P. Porter addressed the Los AngelesPetroleum Accountants Society on "Gasand FPC."

Waterloo's Harold Miller elected Presidentof the Waterloo Rotary Club for thecoming year. . T . T . Hartog namedTreasurer of the Iowa Certified Public Ac-countants.

Williamsport's Les Rohm named Presidentof the Muncy Rotary Club. . AxisCrane elected Treasurer of the Williams-port Baseball Club.

Worcester's Jack Bump named a Directorof the Shrewsbury Chapter of Red Cross.. . . Lawrence P. Kane served as Chair-man of the Legislative Committee of theWorcester County Association of CreditMen. . . . Everett M. Hicks elected VicePresident and a member of the ExecutiveCommittee of the Worcester CommunityChest. . William H. Perks named aTrustee of the Memorial Hospital.

York's William O. Randall was recentlyelected President of the York CountyShrine Club.

16 N.A .A . B U L L E T I N

Photos of Chapter Activities

Members of Racine-Kenosha Chapter observe the rotary mower assembly line at the Jacobsen ManufacturingCompany. Sixty members of the chapter toured the plant, who were later greeted by E. A. Jacobsen, Vice

President and General Manager, and V. E. Bunck, Assistant Treasurer of the company.

Opening Day ceremonies of the Southern Cal iforniaBusiness Show picture partic ipating members of LosAngeles Chapter. W ielding the scissors is Jack D.

Gardiner, President of Los Angeles Chapter.

Harrisburg Chapter presents N.A.A. Bul letins to Leb-anon Valley College Library. Shown above, left toright, are A. C. Carlson, Publicity Director o f Harris-burg Chapter; Miss Smith, Circulation Librarian ofLebanon Valley College, and R. C. Riley, Vice Presi-

dent of Harrisburg Chapter.

JUN E, 1958 1

8th International Accounting Congress

in New York in 1962

FOLLOWING consideration of invitationsreceived from accounting associationsin several nations to serve as hosts for thenext International Congress of Account-ants, the president of the Seventh Con-gress, held last September in Amsterdam,Holland, has announced the acceptanceof an American invitation given by theAmerican Institute of Certified Public Ac-countants and also announced withdrawalof competing invitations. This renderedit certain that the Eighth InternationalAccounting Congress to take place in Sep-tember 1962, would be held in New YorkCity and that the occasion would coincide

with the 75th anniversary of the Ameri-can Institute.

The 1957 Congress at Amsterdam, towhich N.A.A. sent official representatives,drew more professional and general at-tention than any to date. The idea ofsuch a Congress came into being as theaccounting function gained stature in theeconomy. The first one was held at St.Louis in 1904. Others held, prior to themost recent one, were at Amsterdam in1926, New York 1929, London 1933,Berlin 1938, and London 1952. Hencethe Congress returns in 1962 for the sec-ond time to the United States.

20th Annual Ohio State Accounting Institute Held

N A.A. NATIONAL PRESIDENT HaroldW. Scott presided at the second ofthree technical sessions of the TwentiethAnnual Institute of Accounting held onMay 15 and 16 at the Ohio State Univer-sity Campus, Columbus, Ohio. The firstand third sessions of this year's edition ofthe institute, were presided over by Ru-dolf Bauhof, President of the Ohio So-ciety of Certified Public Accountants andC. Rollin Niswonger, President of theAmerican Accounting Association. ThePresident of the American Institute ofAccountants, Alvin R. Jennings, addressedthe opening session. A luncheon sessionpresided over by William R. Davies, Pres-ident of the Institute of Internal Auditors,was addressed by William J. Newman,

Jr., President of the Federal GovernmentAccountants Association.

Research in accounting, auditing stand-ards, and the relationship of accountingto management concepts were the topicsof addresses on the morning of the firstday, with the topics of economic forecasts,market research and profit planning dealtwith in the afternoon. The last day's sin-gle technical session heard talks on "taxproblems in buying and selling busi-nesses," and on "fringe benefits."

Names of three individuals newly chosento Ohio State's Accounting Hall of Famewere announced at the close of the Insti-tute. These were Harry Anson Finney,Arthur Bevins Foye and Donald PutnamPerry.

18 N.A.A. BULLETIN

N. A. A. Authors to Receive Certificates of Merit

A S IN EIGHT PRIOR YEARS, the author-!- ship proficiency of N.A.A. members

will be recognized, not only by Award atthe coming Annual Conference of theLybrand gold and silver medals (see sep-arate story on Medals Committee) butalso by presentation of Certificates ofMerit to authors of the twenty-five manu-scripts which received highest competitionbase credit in the year from May 1957through April 1958. The titles and au-thors of these manuscripts are given be-low, together with publication date ofthose already included in the Bulletin anda descriptive note relating to each paper'stopic and contents. The groupings of thearticles is, broadly, topical to illustrate therange of author contributions represented:

Topics of Today

The Return on Capital Concept

1. WAYNE KELLER, published March

1958.

The concept of a computed return oncapital as a common measurement( "the best developed to date ") forinternal profit appraisal and otheruses is carefully reviewed and sum-

marized here.

inal cost, the present author wouldreflect erosion of enterprise capital,caused by inflation, by permitting ad-ditional charges to income based onoriginal purchasing power of invest-

ment in assets.

Keeping Up -To -Date on "Lifo"

B. L. MABIE, reserved for future pub-

lication.

"Unit Lifo," "dollar value group lifo"and "chain index lifo" are the prin-cipal subtopics of this exposition,presented against a background ofmanagerial usefulness of the 'lifo"basis of inventory valuation.

Installing Direct Costs in One Division

of a Company

RICHARD K. PORTMAN, published June1958.

The carton and container operations ofa large food company uses directcosting as narrated here, under pro-cedural rules which modify the ap-plication only in the minor waysneeded to make statements suscepti-ble of consolidation with those of

other divisions.

Recognizing Deficiency of Depreciation Converting From Conventional To Direct

Provisions Based Upon Historical Costs Standard Costs

HERBERT T. MCANLY, published Feb-

ruary 1958.

Looking neither to asset replacementcost nor accelerated write -off of orig-

WILLIAM A. THORN, published April1958.

Conversion from conventional standardcosts (or other cost systems) is rep-

JU NE , 1958 19

resented here by an enthusiastic pro-ponent of direct costs, as not difficultand fully worth the effort.

A Fundamental Explanation of ElectronicData Processing Systems and Machines

ARNOLD C. POUCH, JR., published May1958.

Outstanding in this article is a reviewof data processing machine develop-

ments, a comparison of manual in-structions with electronic programs,and identification of the parts, withrelationship, of a well- rounded in-stallation of electronic accountingequipment.

What is Your Company's Integrated DataProcessing Potential?W. GERALD COLE, published May

1958.

Integration of data processing need notbe absolute but can be applied indegrees and by methods levels appro-priate to a particular company's situ-ation. The present article studieshow these degrees and levels may beidentified.

How We Studied the Feasibility of AComputer InstallationWILLIAM E. WALKER, JR., published

May 1958.

A "team" study, which extended topersonnel training and actual pro-gramming, gave this medium -sizedcompany's management the facts onwhich to base its decision as to thefeasibility of a general - purpose com-

puter for several applications con-sidered.

Accounting —What and How

The Fallacies and Postulates of Accounting

MARION H. SIMPSEN, published Feb-ruary 1958.

Ten of the former and three of thelatter are identified and summed upby the present author who believesthat complete or partial deception(including self - deception) is prac-ticed by accountants in all of them.

Production Planning for AccountingReports

D. E. HENDERSON, reserved for futurepublication.

The product on which the accountantmost completely stakes his usefulnessto management is here examinedfrom the point of view of better andmore timely processing.

An Accountant Draws Some Blue- PrintsFor the Foreman

CLAIR W. BENDEL, published February1958.

By "talking" in a diagramatic mediumfamiliar to the foreman, the account-ing staff in the author's company wasable (in this case) to communicatecontrol of work in process.

Accounting for A Travel PromotionWILLIAM W. BOWEN, published Jan-

uary 1958.

Aggregate cost, cost to factory and dis-tributor, and cost per product unit

20 N.A.A. BULLETIN

are dealt with in this narrative of ex-perience in budgeting and reportinga travel award contest for dealers.

Planning

Relating Your Company to its Competitive

EnvironmentANDREW J. HAYES and PAUL E. BROD-

RICK, published December 1957.

In this article, partly on the use of theprofit - volume relationship, the au-thors recommend a sequence of stepswhich have economic and industrystudies as points of departure.

Economic Yardsticks in Management

ReportsJOHN H. KEMPSTER, reserved for fu-

ture publication.

To incorporate in the report, suppliedto management some degree of in-telligable correlation of company andeconomic progress is difficult but im-portant — and practicable, as hereillustrated.

Economic Analysis for Better InvestmentDecisionsARTHUR S. WELLS, reserved for future

publication.

Objective economic analysis should bethe backbone of capital expenditureanalysis. This paper outlines an ap-proach for capital expenditure evalu-ation, using specific examples. Par-ticular emphasis is devoted to thepoints at which economic concepts

depart from those of conventional

accounting.

Enterprise Operating Cycle as the PlantingBasis for Fund FlowsCOLIN PARK, published February 1958.

Shall we consider use of the time cycleof operations of the business in re-porting to management? Shall wegive a more prominent place to fundflow reporting? These are two of thequestions raised in this exploratoryarticle.

Budgeting —The Art of Planningand CooperationOSCAR H. CURRY, reserved for future

publication.

Stress is laid, in this paper, on co-operative planning based on long -range objectives under which controlachieved is self - control by budgetparticipants rather than imposed con-

trol.

Profit Objectives vs Cost ObjectivesGEORGE J. WACHHOLZ, reserved for

future publication.No objectives pursued in the manage-

ment of costs can be truly desirableif they deviate from the over - ridingobjective of better profits. The au-thor of this paper is concerned withalignment of these objectives.

Control

Bringing the Budget to Bear onOperationsHERBERT T. WANLY, published Jan-

uary 1958.

JU N E , 1958 21

Comprehensive and detailed budgeting,if accorded its proper place, will re-sult in informed planning and effec-tive control, indicates the present au-thor, who offers exhibits illustratinguseful data by no means always pro-vided.

A Middle Ground for Advancing BudgetSystems and Concepts

ERNEST H. WEINWURM, reserved forfuture publication.

Despite the honorable age attained bygeneral acceptance of budgeting as amanagement tool, there are still com-panies which hesitate to use it or touse it fully. This article deals withways of continuing to spread the ap-plication of budgeting.

Setting Operating Goals and MeasuringAchievements

CHESTER H. SNEIDER, reserved for fu-ture publication.

Detailed goals for departments, e.g.,"increase inventory turnover rate toeight or above by year -end" are setin the program outlined here andfour levels of performance, fallingin ranges graphically portrayed, arerecognized for each goal.

Diagnosing Some Cost-Volume-ProfitRelationships

E. G. Cox, published April 1958.

Relative sensitivity of products to vol-ume changes is given special atten-

tion in this article through the "eyes"of illustrative break -even charts and

emphasis on the variable element of

costs as a determinant of volumesensitivity.

Cost Reduction Through a ProfitImprovement Program

LEWIs W. ROE.

Experience in achieving higher levelsof profit in a deliberate attempt todo so, largely through reduced costlevels, is described here.

Outline of a Plan for PracticalProductivity Accounting

,JOHN V. JAMES and ARTHUR G.

RoONEY, published December 1957.

Indices to put sales and cost figures of

successive periods in comparable dol-lars so that they may serve to develop

a measure of productivity change arerecommended and exemplified inthis article.

Raw Material Cost Control in a GrayIron Foundry

THOMAS B. NOBLE, published Septem-ber 1957.

Keyed to the operation of foundriesdoing their melting in cupolas, this

paper, also applicable to malleableiron foundries, is directed to methodsof setting and using over -all and in-dividual pattern standards.

22 N.A.A. BULLETIN

C H A P T E R C O M P E T I T I O NStanding of Chapters -For Ele ve n Mont hs Endi ng A pril 30, 1958

PLACE CHAPTER POINTS PLACE CHAPTER POINTS4760FALL RIVER -NEW BEDFORD • •

I. FORT WORTH . . . . , " " " " " 5812560266.66. HARRISBURG 4760

2. BOSTON . . . . . . . . . . . . . . . . . . . . 5598 68.MERRIMACK VALLEY . . . . . . . . . . . . 4760

3. FORT WAYNE . . . . . . . . . . . . . I . . . . . . 5508 69. PIEDMONT . . . . . . . . . . . . . . . . . . . . . . .4744

4. SCRANTON . . . . . . . . . . . . . . . . . . . . . . 5480 70 MOBILE- PENSACOLA " . . . . . . ' • "4728

5. PENINSULA. SAN JOSE •"""' 71. NEWARK . . . . . . . . . . . . . . . . . . . . . . . . 47176. TOLEDO . . . . . . . . . . . . . . . . . . . . . . . . . . 5452 72. POMONA VALLEY . . . . . . . . . . . . . . .

4712

7. ATLANTA . . . . . . . . . . . . . . . . . . . . . . _ 502 73. ROCKFORD . .47104678

7. LEHIGH VALLEY . . . . . . . . . . . . . . . . . 74• KANSAS CITY . . . . . . . . . . . .9. INDIANAPOLIS . . . . . . . . . . . . . . . . . . 5436 75. SANGAMON VALLEY . . . . . . . . . . . .

4660

10. DETROIT 5402 76. SAN DIEGO 4650

11.BATON ROUGE . . . . . . . . . . .

5396 77. READING . . . . . . . . . . . . . . . . . . . 4608454012. MASS. NORTH SHORE . . . . . . . . . . . 5384 78.

LONG ISLAND . . . . . . . . . . . . . . . . • • •4502

13. EAST TENNESSEE . . . . . . . . . . . . . . . . . 5364535479.80.

PHOENIX . . . . . . . . . . . . . . . . . . . . . . . .LAKE SUPERIOR . . . . . . . . . . . . . . . . . . 472

14.15.

SYRACUSE . . . . . . . . . . . . . . . . . . . . . . .AKRON . . . . . . . . . . . . . . . . . . . . . . . . . . . 5338 81. BANGOR . . . . . . . . . . . . . . . . . . . . . . . . .

44

16. S ?. LOUIS 532682.83.

ERIE . . . . . . . . . . . . . . . . . . . . . . . . .. .CHATTAHOOCHEE VALLEY . . . . .44564448

17. PROVIDENCE . . . . . . . . . . . . . . . . . . . . . 5278 83. IONORTH CENTRAL OHIO . . . . . . . . .4448

18. BIRMINGHAM . . . . . . . . . . . . . . . . . . 5246 85.. TRAL . . . . . . . . . . . .

OM A H A 444019.20.

ELMIRA AREA . . . . . . . . . . . . . . . . .DENVER '• • • • • • • • • • • • • • 5238 86. IL I . . . . . . . . . . . . . . . . . . . . . . . .

44364404

5214 87.AMSPORT . . . . . . . . . . . . . . . . .W ILLI AM

435421. LANSING . . . . . . . . . . . . . . . . . . . . . . . .5178

88. MUSKEGON . . . . . . . . . . . . . . . . . . . . . 435122.23.

MINNEAPOLIS . . . . . . . . . . . . . . . . . . .PATERSON . . . . . . . . . . . . . . . . . . . . . . . 5176

89.90.

WATERBURY . . . . . . . . . . . . . . . . . . . . .ALBANY . . . . . . . . . . . . . . . . . . . . . . . . . . 4332

24. WORCESTER . . . . . . . . . . . . . . . . . . . . . 51725164 91. W ASHINGTON . . . . . . ." " " . . . . .4303

25. PITTSBURGH . . . . . . . . . . . . . . . . . . . . . 92. DELAWARE . . . . . . . . . . . . . . . . . . . . . . 4288

26. DES MOINES . . . . . . . . . . . . . . . . . . . . 5162 93.NEW YORK . . . . . . . . . . . . . . . . . . . . . . 4277

424627. NORW ICH . . . . . . . . . . 5146 94.

SPRINGFIELD . . . . . . . . . . . . . . . . . . . . .4238

27. PHILADELPHIA . . . . . . . . . . . . . . . . . . 5146 95. RICHMOND • • • • • • • • • • • • • • • • • •"29. BUFFALO . . . . . . . . . . . . . . . . . . . . . . . . . 5128 96. COLUMBUS . . . . . . . . . . . . . . . . . . . . . .

4217

30. YORK 5116 97. BINGHAMTON . . . . . . . . . . . . . . . . . . 4213

31.

. . . . . . . . . . . . . . . . . . . . . . . . . . . . .NEW ORLEANS 5090

98. HARTFORD . . . . . . . . . . . . . . . . . . . . . 4194417632. GREENWICH-STAM FORD . . . . . . . . 5084 100. SAN FRANCISCO . . . . . . . . . . . . . . . . 416633. CEDAR RAPIDS . . . . . . . . . . . . . . . . . . 5059 101. COLUMBIA . . . . . . . . . . . . . . . . . . . . . . . 413734. BRIDGEPORT .

5042 102. COOSA VALLEY . . . . . . . . . . . . . . .4124

35. . . . . . . . . . . . . . .ST. PAUL . . . . . . . . . . . 102. SEATTLE . . . . . . . . . . . . . . . . . . . . . . . • • • 4124

35. W ICHITA . . . . . . . . . . . . . . . . . . . . . . . . 5042 104. PEORIA . . . . . . . . . . . . . . . . . . . . . . . . . . .41054096

37. DALLAS . . . . . . . . . . . . . . . . . . . . . . . . 5000 105. PORTLAND . . . . . . . . . . . . . . I . . . . . . . .

37. WEST. CAROLINAS . . . . . . . . . . . . . . 5000 106. SOUTH FLORIDA . . . . . . . . . . . . . . . . 4046

39. NO. W ISCONSIN . . . . . . . . . . . . . . . . 4992 107. RARITAN VALLEY . . . . . . . . . . . . . . . . 3996

40. TRENTON . . . . . . . . . . . . . . . . . . . . . . . . 4984 108• BROOKLYN . . . . . . . . . . . . . . . . . . . . . . . 3971

41. KNOXVILLE . . . . . . . . . . . . . . . . . . . . . . 4972109.110.

WATERLOO . . . . . . . . . . . . . . . . . . . . .LONG BEACH . . . . . . . . . . . . . . . . .

39243918

42.43.

TULSA . . . . . . . . . . . . . . . . . . . . . . . . . . . .SALT LAKE CITY . . . . . . . . . . . . . . . . .

49644956 I l l . JAMERTOWN . . . . . . . . . . . . . . . . . .

38783876

44. DAYTON . . . . . . . . . . . . . . . . 49544949

112.113.

LOUISVILLE . . . . . . . . . . . . . . . . • • •MID - HUDSON . . . . . . . . . . . . . . . ;808

45. HAW AII . . . . . . . . . . . . . . 113. OKLAHOMA CITY . . . . . . . . . . . . . . . 3808

46. NORTH ALABAMA . . . . . . . . . . . . . . . 4940 115. CALUMET I . . . . . . . . . . . . . . . . . . . . .3764

47. JACKSON . . . . . . . . . . . . . . . . . . . . . . 4932 116. ANN ARBOR . . . . . . . . . . . . . . . . . . . . 3763

48. RACINE - KENOSHA . . . . . . . . . . . . . . 4916 117. CH IC AG O . . . . . . . . . . . . . . . . . . . . . . 375549. MOHAW K VALLEY . . . . . . . . . . . . . . . 4910 118. WABASH VALLEY . . . . . . . . . . . . . . . . 372250. CLEVELAND . . . . . . . . . . . . . . . . . . . . . . 4894 119 . . . . . . . . . . . . . . . . . . . . . .

51. YOUNGSTOW N . . . . . . . . . . . . . . . . . . 4884120. NEW HAVEN . . . . . . . . . . . . . . . . . . . . 3633

361152. FOX RIVER VALLEY . . . . . . . . . . . . . 4882 121.

CHARLOTTE . . . . . . . . . . . . . . . . . . . . . .3586

53. SHREVEPORT . . . . . . . . . . . . . . . . . . . . . 48614848

122.123.

LANCASTER . . . . . . . . . . . . . . . . .HAGERSTOWN . . . . . . . . . . . . . . . . . . 353454.

55.MEMPHIS . . . . . . . . . . . . . . . . . .C INCINNATI • • • • • • • • • • • • • • 4837 124. HAMPTON ROADS • . . . . . . . . . . . . .

35303512125. SOUTHERN MAINE . . . . . . . . . . . . . .

56. OAKLAND -EAST BAY . . . . . . . . . . . . 4828 126. CUBA . . . . . . . . . . . . . . . . . . . . . . . . . . 340057. SAN ANTO NIO . . . . . . . . . . . . . . . . . . 4826 127. SABINE . . . . . . . . . . . . . . . . . . . . . . . 337258. ROCHESTER . . . . . . . . . . . . . . . . . . . . . . 4823 128. SOUTH BEND 325559. HOUSTON . . . . . . . . . . . . . . . . . . . . . . . 4790 129. GRAND RAPIDS60. NEW HAMPSHIRE . . . . . . . . . . . . . . . 4786 130. BEAVER VALLEY . . . . . . . . . . . . . . . . . 3086

61. LOS ANGELES . . . . . . . . . . . . . . . . . . . 4778 131.SAGINAW VALLEY . . . . . . . . . . . . . . . 2958

15761. MILW AUKEE . . . . . . . . . . . .

KALAMAZOO47784774

132.133.

NORTH PENN . . . . . . . . . . . . . . . . . . .FLORIDA WEST CENTRAL . . . . . . . 900

63.64.

. . . . . . . . . . . . . . . . . . . .BALTIMORE . . . . . . . . . . . . . . . . . . . . . . 4770 134. NORTHERN NEW YORK • • • • •610592

65. EVANSVILLE . . . . . . . . . . . . . . . . . . . . . 4764 135.SACRAMENTO . _ . . . . . . . . . . . . . . .

J U N E , 19 5 8 23

P R E V I E W S O F C H I C A G O

e

JUNE 22 -25,1958

THE CONRADHILTON

39th International Accounting Conference

N.A.A. BULLETINLybrand Award Committee AppointedConference News1958 -59 Conference Program ListedOlean- Bradford Chapter EstablishedAnnual Conference Program AnnouncedPhotos of Chapter ActivitiesN.A.A. Authors to Receive Certificates of MeritCongratulations ToIn The Public EyeChapter Competition