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              Bulletin HASKINS & SELLS 35
More Information
WE find it helpful at times to have full
information concerning the origin of
an engagement. We shall therefore in the
future on the memorandum of engagement
(form number 113), item 17, endeavor to
show whether the engagement is a repeat
or a new one. In the latter event, where
it can be determined without unnecessary or
undesirable inquiry of the client there will
be a few words to indicate the source as, for
example, whether it came through a bank
or commercial paper house, or from per­sonal
endorsement by some one connected
with a client whom we have previously
served.
A New F i rm Member
Mr. W. P. Bickett, manager of the Chi­cago
office, was on June first made a mem­ber
of the Missouri firm. Mr. Bickett en­tered
the Haskins & Sells organization De­cember
23, 1901. He will retain the ad­ministration
of the Chicago office.
Mr. Simson has returned from Washing­ton
where since January 22 he has been
rendering service to the American National
Red Cross. Mr. Simson will now be the
firm member having oversight of the finan­cial
department.
A Problem
For cost purposes, how should graded
leaf in the cigar industry be priced? Should
grade No. 4 be treated as of the same price
as grade No. 1, provided it came from the
same hogshead? If this is done it will hap­pen
that a month when the factory works
chiefly on low grade tobacco may show a
loss while a month when it works chiefly
on high grade goods will show an abnormal
profit. If the grades out of the same hogs­head
are treated as of different prices, how
should those prices be determined?
lle.