Firm mergers;

              FIRM MERGERS
On October 20, 1963 the practice of Phillips, Shef­field,
Hopson, Lewis & Luther, of Houston, Texas,
was merged with ours. Eight weeks later, on Decem­ber
15, Arnold, Hawk and Cuthbertson, of Dayton,
Ohio, became a part of Haskins & Sells.
John W. Queenan has remarked that, for our part,
the two main reasons for such mergers are the addi­tion
to our organization of men of particular pro­fessional
capabilities and the strengthening of our
practice in specific geographical areas. Increasing
the size of our practice per se is not an objective.
Beyond these reasons, of course, effective mergers
depend on having mutual objectives and advan­tages
on both sides.
While these two firms are best described in terms
of their partners' accomplishments, the qualities
and efforts of many people have combined to bring
distinction to their respective organizations. To all
of them—partners, principals, accounting and office
staffs—Haskins & Sells extends a very warm wel­come.
Phillips, Sheffield, Hopson, Lewis & Luther
Jay A. Phillips began his practice in Houston in
1925 and was joined a month later by Carneal B.
Sheffield. Over the years their firm grew to be the
largest local firm in Houston and one of the largest
in the Southwest, with a total personnel of 50. Join­ing
us as partners are Mr. Phillips, Harry D. Hopson,
Sidney M. Lewis, Homer L. Luther, Jesse W. Mar­tin,
and Gregg C. Waddill.
Paul N. Carson, Robert J. Cruikshank, Harold K.
Robertson, Kenneth E. Studdard, and James D.
Witte have been appointed principals. Mr. Shef­field,
who had been on leave of absence from his
firm, is now a principal with us in a consulting ca­pacity.
These principals are pictured on page 15.
The Phillips firm has been well known for its con­tributions
to the development of the profession and
to civic improvement, pursuing these objectives
with an energy deriving from Mr. Phillips' leader­ship.
Mr. Phillips reached a high point in his pro­fessional
career in 1961, when he received the Amer­ican
Institute's award for distinguished service to
the profession, joining the ranks of others in Haskins
& Sells—Arthur H. Carter, Edward A. Kracke, N.
Loyall McLaren, and Arthur B. Foye—who have
also been so honored. He had been president of
the American Institute in 1952-53, was president of
the Association of CPA Examiners, president of the
Texas Society of CPAs, and for many years was
chairman of the Texas State Board of Public Ac­countancy.
Mr. Hopson and Mr. Luther have also held the
presidency of the Texas Society of CPAs. Mr. Luther
New Houston partners: (left to right) Jay A. Phillips, Jesse W. Martin, Sidney M. Lewis, Harry D. Hopson
(seated), Gregg C. Waddill, Homer L. Luther