like majority vote as required in Section 3 of this Article, provided that not less than three-fourths of the members constituting such Board shall have been of the Board that issued the decree then being reconsiderd.

SEC. 5. Written notice of any resolution for expulsion or suspension shall forthwith be sent to the member affected thereby and to the Secretary or Secretaries of the State or District Society or Societies with which such member is affiliated or in which State he has his domicile or place of business.

ARTICLE II.

SEC. 5. Second_paragraph-add to it: "provided that whenever it is necessary for the Trustees to sit as a Trial Board specific mention shall be made in said notice of the cause or causes requiring such session." SEC. 7. Second paragraph-after the word "Trustees add except when convened as a Trial Board when a majority shall be necessary." On motion the amendments were adopted with the exception of Rules 3 and 6 which were stricken out.

MR. THOS. P. RYAN (New York): I would like to make a motion that the Board of Trustees for next year be authorized and instructed to have the new by-laws and constitution which we have adopted to-day printed. My understanding is that these amended by-laws come into operation to-day.

MR. THOS. L. BERRY (Maryland): How will that expense be provided for?

MR. THOS P RYAN (New York): There is already an appropriation for that purpose.

The motion offered by Mr. Ryan was duly seconded, and being voted on, prevailed unanimously.

On motion of Mr. F. G. Du Bois, of New Jersey, the meeting adjourned until 9 o'clock Wednesday morning.

Third Session, Wednesday Morning, October 16.

The meeting was called to order at 10 o'clock by the President. A paper on "Professional Ethics" was présented by Mr. Joseph E. Sterrett, C. P. A. (Penn.), `but was not read. The paper was discussed by Mr. John A. Cooper, C. P. A. (Ill.), Col Franklin Allen, C. P. A. (N. Y.), and Mr. Robt. H. Montgomery, C. P. A. (Penn.).

MR. H. M. TEMPLE (Minnesota): I wish to make a motion that a committee be appointed from this body to prepare or formulate a code of ethics, and that the ethics and the discussion had here to-day be embodied in the Year Book, the ethics to appear from year to year.

MR. SEYMOUR WALTON (Illinois): I wish to offer an amendment by adding “in the code to be adopted by the society."

MR. H. M. TEMPLE (Minnesota): It is simply a recommendation that the ethics be formulated and printed in the Year Book for the guidance of the profession.

MR. R. H. MONTGOMERY (Pennsylvania): At least these rules should

Note-Mr. Sterrett's paper was printed in the October number of The Journal of Accountancy. Reprints of the discussion by Messrs. Cooper, Allen and Montgomery will be found on Page 81 and following of this issue.

be submitted to the American Association and so I think it is proper to put Mr. Walton's amendment to the motion.

The amendment was accepted by Mr. Temple and, the motion as amended being put to a vote, prevailed unanimously.

THE PRESIDENT: The next subject is that of education, but before we take that up Mr. Vollum of Pennsylvania has an address to present on the subject of the C. P. A. movement.

MR. VOLLUM: When this article was written it was written more with the idea as to the future of accountancy as a profession, or in other words, to deal in plain language with what has to be done to make accountancy a profession. I want to say right here in this connection that the amendments to the constitution and the by-laws made yesterday, and the rules that were adopted have made a very great stride toward the end that this article deals with.

Note Mr. Vollum's article is reprinted on page 100 and following of this issue of The Journal of Accountancy.

THE PRESIDENT: We are particularly fortunate in having with us some of the representatives of the leading educational institutions of the country. One of the most important things is the education of the men who are entering our profession and the discussion along this line will be led by Prof. Joseph French Johnson, Dean of the School of Commerce of New York University, followed by Prof. John H. Gray, of the University of Minnesota, by Mr. Walton of Chicago, president of the Illinois Society, Prof. Gilman of the University of Wisconsin, and Prof. Robinson of the University of Illinois. The same rule in regard to discussion will be followed as has already been announced. As you will remember, Dean Johnson was elected an honorary member of this organization, and I now have the pleasure of introducing him to you.

Note The papers by Dean Johnson, Mr. Walton, Professor Gray, Professor Gilman and Professor Robinson and an additional contribution by Professor Haney will be found on pages 119 to 133 of this issue of The Journal of Accountancy.

Fourth Session, Wednesday Afternoon, October 16th.

The meeting was called to order at 2.15 o'clock.

THE PRESIDENT: By common consent we will proceed to the consideration of the by-law deferred from yesterday.

MR. THOS. P. RYAN (New York): As chairman of the Committee on By-Laws, I wish to say that Mr. Goodloe, who presented this section, and the committee got together and agreed upon a section which he will read.

MR. J. S. M. GOODLOE (Ohio): That section has been agreed to read as follows, and will become, if adopted, Section 16, Article 1, of the By-Laws :

I.

The duties of the Committee on Arbitration shall be

(a) To investigate and arbitrate such difference of a professional character between members of this association as shall be referred to it

by the Board of Trustees, Executive Committee, or by mutual consent of the parties thereto members of this association.

(b) To report the findings thereon to the Board of Trustees and the parties to the arbitration, provided, however, that no reports to the Trustees or Executive Committee shall be requisite if the findings of this committee be accepted by all of the parties in issue.

(c) And in the event of the non-acceptance of the findings of this committee by any of the parties in issue, to prefer charges against such person or persons before the Board of Trustees sitting as a trial board.

II.

This committee shall organize by the selection of one of its members as secretary, who shall notify in writing at least thirty days in advance of any action such member or members of this association as may be affected by such investigation."

THE PRESIDENT: A resolution was passed yesterday adopting this section. According to our record it is merely up for consideration in this body as to the language used in the resolution yesterday. If there are no objections we will ask the stenographer to incorporate the language as read into the section relating to the Committee on Arbitration.

MR. E. E. Gore (Illinois): I move as an amendment or as an addition to the matter submitted by the committee that there be added a proviso that nothing herein contained shall operate to suspend the authority of state societies for the adjudication of disputes between members thereof. The amendment was accepted by Mr. Goodloe and, the motion being put to a vote, prevailed unanimously.

THE PRESIDENT: I will ask once more if there are any objections; we want to be sure it is right. The secretary will record it as read with the amendments added.

The next order of the Agenda is the presentation of a paper by Mr. Thomas P. Ryan, of New York, on the subject of “Public Accountants in the World of Affairs."

Note-Mr. Ryan's paper will be found on page 107 of this issue of The Journal of Accountancy.

Reports of the Presidents of the various State Societies were then called for and submitted.

The meeting was then addressed by Mr. F. A. C. Ross, the president of the Dominion Association of Chartered Accountants, and by Mr. W. A. Henderson, Secretary of the Institute of Chartered Accountants of Manitoba.

Address.

BY MR. F. A. C. Ross, Montreal.

I thank you for the kind words of welcome you have extended to me. My presence here as president of the Dominion Association of Chartered Accountants is an assurance and the best evidence I can give you of the appreciation we feel of the kind invitation extended to me by the American Association to be with you at this time, and join you in the various sessions and deliberations connected with your annual meeting. In Canada our association is proceeding along similar lines to that on which your association is working. We are not a close corporation in that we welcome every applicant who is a bona fide accountant and who has served

the necessary qualification term in the office of a chartered accountant, and he must be not only a man of theoretical knowledge, but a man of high moral standard.

The Montreal association holds written examinations, and has held them for years semi-annually; in fact, at this moment there are standing in Montreal a number of applications for our fall examination. The aims and purposes of our association are the same as your own. The same questions would come up for discussion from time to time that confront you in your work, and it was of interest and a pleasure for us on the other side of the border to note your disposition of those problems and to watch the progress of The American Association of Public Accountants. More than this, we have derived a great deal of useful information by attending your meetings from time to time and trying to learn from your experience what might be useful to us. It is therefore a great pleasure I have in being permitted to be with you to-day, and in representing our association I bring to you their heartfelt greeting and best wishes for The American Association of Public Accountants, not only in their present business, but that their future life may be an unqualified success. (Applause.)

Address.

BY MR. W. A. HENDERSON, Manitoba.

We are of the West, and while we are not the youngest association in Canada, it is only in the last years that we have been able to make any great progress in extending our association. We obtained our charter after what was known as the great "boom" in the Northwest; that was in 1882, and in 1885 we obtained our charter. We old inhabitants are very optimistic and one would have thought in the hard times we would have gone to rest, but we were ahead all the time. For ten or twelve years we kept our association alive, and that was all we could do. In the last five or six years we have been making progress and taking in new men, and now we have twenty-two men in our association, and all of the men, except three charter members, are men who had to pass the examination to come into the association in the regular way. In regard to the standard we have set in the west, it is a higher standard than any of the associations in Canada have set. We require two examinations, one we call "intermediate,' in which candidates have to take papers on mathematics, bookkeeping, technical and theoretical, bills of exchange, partnership, joint stock companies, accounts and some simple questions in assessments, etc. In the final examination they have to take a paper on auditing accounts, bookkeeping, general commercial law, partnership accounts, also executor duties and accounts. We require them to make 65 marks in the intermediate examination, and 75 marks in the final. You will see the percentage is a high one. When we began our examinations we thought a man who did not know 75 per cent. at least of such matters was not equipped to be a member of the association. A man ought to be familiar with his work before he is allowed to practice as a public accountant. We consulted with a professor of the university and the superintendent of the public schools of Winnipeg, and they thought the standard of education was too low. That was the reason we adopted the high standard. Mr. Gottsberger was speaking of the examination in New York and of the number that had been turned down. We had thirty-two up for our May examination, 27 intermediate and five final. We were able to pass only three intermediate. That leads me back to another point that was introduced this morning, and that was the discussion on education. We talked the matter over with our university authorities to see if they would take it up in the commercial course of the university. The same thing that the professor spoke of this morning proved true in our case.

There is no man to take up our side of the work. Last fall we followed the examples that have proved so successful in other places, that of forming a students' association. We had sixty-five members who joined it last year. We enlisted the sympathy of several of our prominent lawyers in Winnipeg who gave us addresses on legal points on which there were some papers prepared and read as a part of the examination. This is some of the work we have been trying to do in the west. We are heartily in sympathy with your work. On behalf of our association I want to thank you very kindly for the hearty greeting you have given me, and for the pleasure in being permitted to be present at your meeting and receive the hospitality you have extended to me. Anything that is of interest to the American Association of Public Accountants is also of interest to us. I think we can learn a great deal from you in our work in the West.

(Applause.)

THE PRESIDENT: The association appreciates very much the presence of gentlemen from visiting societies. We seem to have concluded the business that is before the association. The next thing is the election of officers.

The election resulted as follows:

President, Elijah Watts Sells, New York; secretary, Thomas Cullen Roberts, New York; Treasurer, H. T. Westermann, Missouri; trustees, J. E. Sterritt, Pennsylvania; J. P. Joplin, Illinois; J. S. M. Goodloe, Ohio; auditors, H. A. Keller, Ohio; A. E. Fowlie, Colorado.

Invitations were extended by the Colorado Society of Public Accountants to hold the next annual meeting of the Association in Denver and by the Pennsylvania Institute of Certified Public Accountants to hold the meeting in Atlantic City.

A roll call of the states was then had and the following result announced:

THE PRESIDENT: Denver has received 1521⁄2 votes and Atlantic City 2552 votes. I therefore declare that by a vote of this body Atlantic City has been chosen as the place of meeting in 1908. (Applause.)

MR. J. S. M. GOODLOE (Ohio): I move that the thanks of the association be extended to the Colorado State Society of Public Accountants and to the various civic bodies of the city of Denver for their cordial invitations, and to express the regret of this association that circumstances over which it had no control at the present time make it inadvisable at this period to accept the invitation.

The motion was numerously seconded and, being put to a vote, prevailed unanimously.

On motion of Mr. Thos. L. Berry, of Maryland, the meeting adjourned to meet in Minneapolis on Thursday morning at ten o'clock.

Fifth Session, Thursday, October 17th.

The fifth session of the association convened in the mayor's reception room, in Minneapolis, on Thursday morning, at 10 o'clock, and was called to order by the president.

MR. H. M. TEMPLE (Minnesota): As a representative of the Minnesota society I desire to introduce to you Mr. A. E. Merrill, the president