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54 H A S K I N S & SELLS October
Our Own
THE annual meeting of Haskins & Sells
began at the Executive Offices on
Monday, September 23.
Colonel Carter presiding, called the
partners together at ten o'clock for a short
session preceding the general meeting.
He announced that Mr. Ludlam, who has
been ill for some time, and in the hospital,
was now at home and making a rapid
recovery. This announcement brought great
joy to every one present. Colonel Carter
then reviewed briefly the general results
and outstanding events of the previous
year and announced the Haskins & Sells
Foundation, this institution having been
organized during the year for the purpose
of rendering assistance to members of the
organization who by reason of age or infirmity
may be, in the future, prevented
from continuing in the organization as
actively as in the past.
Following the partners' meeting, the
general conference was begun, the morning
session being devoted to a general discussion
of miscellaneous matters relating to
the organization.
Lunch was served in the library at
12:30, following which various informal
conferences took place.
The afternoon session of Monday was
given over to a discussion of brokerage
accounts. Mr. Willins led the discussion
and read a paper dealing with the examination
of stock brokerage accounts in the
preparation of questionnaires which are
required by stock exchanges. He pointed
out the necessity of having each office as
familiar with the examination of stock
brokerage houses as our offices in New
York City, inasmuch as the increased
activity in market affairs is becoming
widespread throughout the country and the
exchanges of other cities are adopting the
practices of the New York Stock Exchange
in requiring the questionnaires of member
concerns. Mr. Willins also referred to the
fact that the New York Stock Exchange
has not laid down any definite form in
Meetings
which the information required by the
questionnaire is to be furnished. He
stated, however, that the form which has
been used by New York Broad Street office
for several years has appeared to be satisfactory
to the New York Exchange and
that he believed if other offices would
adopt the same form, the exchanges in
the various cities would find it satisfactory.
With this thought in mind, the committee
which organized the Monday afternoon
session, namely, Messrs. Bickett, Willins,
and Garrison, had prepared specimen
copies of the questionnaire report, with
specimen forms used in the examination to
accompany mimeographed copies of the
remarks on the examination of stock
brokerage accounts and the questionnaire.
Following Mr. Willins' presentation of the
paper there was considerable discussion and
many practical questions were asked by representatives
of the various practice offices,
which showed how timely the subject is.
Monday evening, after group dinner
parties, the assemblage attended a theatre
party at Chanin's 46th Street theatre (this
being a Shubert production), the play
being "Follow Through." The appropriateness
of this selection was very
apparent, from remarks heard here and
there during the following days. The
play was bright, sparkling, and entertaining,
and seems to have been enjoyed
by every one present.
The session Tuesday morning was given
over to a discussion of the Federal Reserve
Bulletin dealing with the verification of
financial statements. This subject was
presented by Mr. Gause, the session having
been organized by a committee consisting
of Messrs. Foye, Kracke, and Reik. Following
an interesting presentation and
discussion, the meeting voted to adopt the
Federal Reserve Bulletin as an integral
part of our service procedure, the committee
having worked out the details of
incorporating the procedure into our service
classification.
