Every evening, Wilmington daily commercial., 1921-12-10
ALUMNI OF COlDEY
COLLEGE FRATERNlZE
AT HOTEL DU POINT
Continued from page |.

Continued from page |.
lie compared the association with n
mill wheel, which requires pressure
upon it's spoSes to keep 1t going, stat
ing that the Goldey organization has a
spoke for every graduate to devote
his energy to. The younger gradu-
ates should supply the pep" he said.
and the older ones the power" so that
the two combined may keep the Goldey
Alumni wheel turning.
Mr.. Eliason pointed to the need for
and the opportunity of accounting
trained men and women in business
The definition he believed most APP
propiate is that which describes
science as organized knowledge
/ THE science OF business manage
ment rests upon organized knowledge
OF the facts OF the business" he stated
The success of business management
Is measure OF the extent to which use
has been made of that organized
knowledge of the facts of the business
on which business ma ma cement must
depend for its decisions and without
which the executive. no matter how
much ability he may possess as an ad-
mlnistrator, Is hopelcssly handicapped
In the proper conduct of the affairs of
his enterprise. Ignorance OF the facts
OF business results in lack OF plan
ming and lack of control Accounting
then, is modern business. is OF great
and ever increasing importance. Il
is the one important tool of executive
control. The constant cry OF business
] nan fN FhN To- 60. -.
/ light OF facts as presented hy ihe ac-
countant from accurate records, that
/ they can be armed with reliable data
with which TO approach their business
/ problems
He said the man who can intelli-
gently analyze and study the sta =
tistical records and from them deter
mine the business trends and ten
denotes, locate inefiicicncies and
wastes and their causes Is the ac-
countant with the broad practical
point of view. He is the man who can
place I'm the hands of the business ex-
ecutive the information that enables
him to at all times have before him
a bird 's-eye view Of every activity OF
! the business The accountant who
can do this himself becomes qualified
TO take up executive work. the pos
sibilties Of which are greatly in
| creased, because he can apply a
knowledge of accounting in the con-
troll of activities for which he is re-
sponsible.
+ "One Of the greatest burdens UNI
der which business is staggering toda y
and which is probably more re-
sponsible for business conditions
today than any other one thing is
that of taxes" he stated. Every
move in corporate management
has linked with 1t tax problem
Ii is the outgrowth of the war;
It Is an accounting problem. No
that the business man has any desir,
to dodge his just share OF taxation
but when he decides on "A policy h,
t, should know with reasonable certain
ty all of the factors working for o
, against the success of the undertak
ing With the changing revenue law
and regulations OF the Treas sury De
partment, now SO hopelessly compli
Gated and inconsistent, ii is all but i'm
! possible for the executive. without
knowledge of accounting, 10 intelli
gently make decisions. And today h
is learning To his sorrow that deci
sions which he made and action
. taken several years ago are bringin
the tax collector 10 his door with
little blue slip at the top of which
printed Additional Assessment. /
many cases this might have bee
avoided had the decision made, G
the action taken. been looked upon a
the time from the viewpoint of tn
accountant"
:, He said during the war and eve
. since the war the public has begu
:. to awake TO the fact that the account
ant is not merely a necessity. but ais
a blessing to the body polite and con
:, nrercial. Accountants have been al
pointed TO positions Of great trust an
: responsibility in governmental. finar
!, cial and industrial undertakings, pos
tions whose duties did not seeri to
solely or even chiefly associated wit
questions of accounts. The moder
accountant has become financial az
visor, not only to business men, b,
10 governments. In other word
i business men in the last few yeai
], have come to appreciate the value
II accounting knowledge by a realiz;
e ton of their own handicaps throug
y lack OF IL.
u The toastmaster praised Mr.. Ha
u kins' management of the Hotel d
e Pont, ard Mr.. Harkins congratulate,
the Alumni and mentioned previol
banquets of the association, many
/ which he attended.
J. Counting Your Friends" was NJ
Spillman's theme.
Every hero, sung or unknown. III
\ been largely the product of h
: friends" he stated consciously
otherwise he has been driven up Il
hill of life by the power of fellowshi
No athlete was ever known to secui
his. maximum strength at practic
The master prowess comes from Il
psychology of the crowd. A Wi
quarter back will direct the play
his team as far as possible away fro
the enemy side of the field. His e;
is always pitched toward his chee
= Leader, for he knows that many d