THE INSTITUTE 
 
 OF 
 
 Chartered Accountants 
 
 OF ONTARIO. 
 
 Incorporated by Act 46 Victoria , Chapter 62, 
 Of Ontario. 
 
 Charter of Incorporation and 
 By-Laws 
 
 1902 
 
 The Monetary Times Printing Co., of Canada, Limited, 
 62 Church Street, Toronto. 
 
CONTENTS 
 
 PAGES 
 
 Past Presidents and Vice-Presidents .... 3 
 
 Council and Officers, 1902-03 4 
 
 Act of Incorporation 5 to 8 
 
 By-Laws 9 to 20 
 
 Forms . . . , 21 to 23 
 
 List of Members 24 to 26 
 
 Affiliated Colleges . . * 27 
 
 Honorary Members 27 
 
 Students’ Association 28 
 
 Information for Candidates 29 to 31 
 
 Text Books for Students 32 to 33 
 
 Regulations Respecting Examinations . . . • 33 to 34 
 
 Institute Meetings 34 
 
\ <o N\ ,v f a-i Roxana G, Johnson, 
 
 The Institute of Chartered Accountants 
 of Ontario. 
 
 Past Presidents and Vice-Presidents. 
 
 Year . 
 
 Presidents. 
 
 1st Vice-Presidents . 
 
 2nd Vice-Presidents . 
 
 1883 
 
 1884 
 
 Samuel B. Harman 
 John J, Mason 
 
 John J. Mason 
 William McCabe 
 
 John Hague 
 
 1885 
 
 William McCabe 
 
 W. F. Findlay 
 
 E. R. C. Clarkson 
 
 1886 
 
 William McCabe 
 
 W. F. Findlay 
 
 E. R. C. Clarkson 
 
 00 
 
 00 
 
 E. R. C. Clarkson 
 
 W. F. Findlay 
 
 FI. W. Eddis 
 
 1888 
 
 W. F. Findlay 
 
 H. W. Eddis 
 
 John T. Moore 
 
 ns 
 
 00 
 
 CO 
 
 H. W. Eddis 
 
 John T. Moore 
 
 W. H. Cross 
 
 ,890 
 
 John T, Moore 
 
 W. H. Cross 
 
 R. T. Coady 
 
 1891 
 
 H. W. Eddis 
 
 J. W. Johnson 
 
 Hugh Scott 
 
 1892 
 
 H. W. Eddis 
 
 J. W. Johnson 
 
 Henry Lye 
 
 ~t i8 93 
 
 H. W. Eddis 
 
 R. T. Coady 
 
 Henry Lye 
 
 1894 
 
 Henry Lye 
 
 George Edwards 
 
 R. T. Coady 
 
 ; .s 9S 
 
 1896 
 
 George Edwards 
 
 William Anderson 
 
 Harry Vigeon 
 
 George Edwards 
 
 William Anderson 
 
 L. Goldman 
 
 1897 
 
 George Edwards 
 
 William Anderson 
 
 Geo. F. Jewell 
 
 CO 
 
 VO 
 
 00 
 
 Harry Vigeon 
 
 John J. Mason 
 
 W. T. Kernahan 
 
 1899 
 
 Harry Vigeon 
 
 John J. Mason 
 
 W. T, Kernahan 
 
 1900- 
 
 1 Wilton C. Eddis 
 
 W. T. Kernahan 
 
 D. Hoskins 
 
 1901- 
 
 2 Wilton C. Eddis 
 
 W. T. Kernahan 
 
 D. Hoskins 
 
 
 165 S 9 
 
The Institute of Chartered Accountants 
 of Ontario 
 
 Incorporated by Act 46 Victoria , Chapter 62 of Ontario 
 
 COUNCIL, 1902-1903 
 President — Wilton C. Eddis 
 ist Vice-President — W. T. Kernahan 
 2nd Vice-President — David Hoskins 
 
 Blatch, George L Ottawa 
 
 Eddis, Wilton C Toronto 
 
 Edwards, George ..Toronto 
 
 Hardy, James Toronto 
 
 Hoskins, David , . . . . Toronto 
 
 Johnson, J. W Belleville 
 
 Kernahan, W. T Toronto 
 
 Langley, J. P Toronto 
 
 Macpherson, F. H... Windsor 
 
 Mason, J. J Hamilton 
 
 Neff, A. C . . Toronto 
 
 Savage, G. A Montreal 
 
 Scully J. M . . Waterloo 
 
 Tindall, W. B. Toronto 
 
 Vigeon, Harry Toronto 
 
 Auditors 
 
 A. T. Lawson G. U. Stift 
 
 Solicitors 
 
 Thomson, Henderson & Bell, Toronto 
 
 Secretary and Treasurer 
 W. B. Tindall, Home Life Building, Toronto 
 
 Institute Offices 
 23 Toronto Street, Toronto. 
 
THE INSTITUTE 
 
 OF 
 
 Chartered Accountants 
 
 OF ONTARIO. 
 
 CHARTER 
 
 Statutes of Ontario. 
 
 46 Victoria, 1882-3, Chapter 6 t. 
 
 An Act to Incorporate the Institute of Account- 
 ants of Ontario. 
 
 [Assented to ist February , 1883.] 
 
 Whereas an Association has been for some time 
 organized under the name and style of the Institute of 
 Accountants of the Province of Ontario, on the basis of 
 a iike Institute duly chartered in Great Britain, and hail- 
 ing from London, Liverpool, Manchester, Glasgow, and 
 other large commercial centres therein, and such Associa- 
 tion now numbers over two hundred members, hailing 
 from Toronto, Kingston, Hamilton, London, Brantford, 
 Belleville, St. Catharines, Cobourg, and other commercial 
 centres of the Province, such membership comprising the 
 financial managers and accountants of leading firms in 
 such localities ; and whereas Samuel Bickerton Harman, 
 
6 
 
 Constitution. 
 
 General powers 
 
 President; John J. Mason, Vice-President; and G. W a 
 Banks, E. R. C. Clarkson, R. T. Coady, W. H. Cross, 
 W. A. Douglas, H. W. Eddis, W, F. Findlay, R. H. 
 Gray, Francis C. Ireland, J. W. Johnston, John Massey, 
 R. D. Millar, J. T. Moore, A. G. Ramsay, Charles 
 Robertson and S. Whitt, members of the Council of the 
 said Association, on behalf of the members thereof, have 
 petitioned to be granted a charter of incorporation to 
 enable them more efficiently to give effect to the aims 
 they seek to accomplish as an intellectual and educa- 
 tional movement to raise the standard of accountancy, 
 with such corporate powers as are hereinafter men- 
 tioned ; and it is expedient to grant the prayer of the 
 said petition : 
 
 Therefore Her Majesty, by and with the advice and 
 consent of the Legislative Assembly of the Province of 
 Ontario, enacts as follows : 
 
 i. The said Samuel Bickerton Harman, John J. 
 Mason, G. W. Banks, E. R. C. Clarkson, R. T. Coady, 
 W. H. Cross, W. A. Douglas, H. W. Eddis, W. F. 
 Findlay, R. H. Gray, Francis C. Ireland, J. W. Johnson, 
 John Massey, R. D. Millar, J, T. Moore, A. G. Ramsay, 
 Charles Robertson and S. Whitt, and all other persons, 
 who may hereafter from time to time be admitted to 
 membership of the Corporation, are hereby constituted a 
 body politic and corporate by the name of “ The In- 
 stitute of Chartered Accountants of Ontario,” and the 
 said Corporation (hereinafter called the Institute) shall, 
 subject to the provisions of this section, be capable in 
 law, by its corporate name, to take, purchase, hold, sell 
 and dispose of, all and any goods, chattels, lands, tene- 
 ments and hereditaments, and any real or personal 
 property whatsoever, and any interest therein, which may 
 from time to time be necessary or convenient for the 
 purposes of the Institute ; but the Institute shall not 
 engage in trade, or so deal in lands, or any interest 
 therein, but may receive, manage and invest voluntary 
 contributions and donations from members or others as 
 a benevolent fund for the benefit of needy or non- 
 
7 
 
 prosperous members or their families, including 1 families 
 of deceased members ; provided always that the said 
 Institute shall only have power to acquire and hold such 
 real estate as shall not at any one time exceed an annual 
 value of three thousand dollars, and shall have and 
 hold such real estate only so far as the same shall 
 be necessary for the purposes of the said Institute within 
 Ontario. 
 
 2. The institute is hereby empowered to promote, Objects, 
 and increase by all lawful ways and means, the know- 
 ledge, skill and proficiency of its members, in all things 
 relating to the business or calling of an accountant, and 
 
 to that end to establish classes, lectures and examinations, 
 and prescribe such tests of competency, fitness and moral 
 character as may be thought expedient to qualify for 
 admission to membership, and to grant Diplomas of 
 Fellowship to competent members, enabling them to use 
 the distinguishing letters F. C. A. (Fellow of the Chartered 
 Accountants) as a test of such competency. 
 
 3. The Institute, in general or special meeting By-laws 
 assembled, may make By-laws for carrying out its objects, 
 
 and may alter and vary the same from time to time ; 
 and after the first set of By-laws has been made no new 
 ones shall be made, nor shall any By-law be altered 
 unless written notice thereof has been given at a previous 
 meeting. 
 
 4. The Officers of the Institute shall consist of a Government. 
 President, two Vice-Presidents, a Secretary, and a Treas- 
 urer (the same person being eligible for both the last 
 mentioned offices), and such other Officers as may be 
 provided for by the By-laws ; the affairs, business and 
 concerns of the Institute shall be managed by a Council, 
 including the said Officers, the number of which shall 
 
 be regulated by the By-laws, all of whom shall be members 
 of the Institute, and who shall be elected annually at such 
 time and place as may be provided by the By-laws ; all 
 vacancies which may occur in the Council by death or 
 otherwise, in the interval between two annual meetings, 
 may be filled by the Council. 
 
8 
 
 First Council. 
 
 Fees. 
 
 Annual Meeting. 
 
 Membership. 
 
 Affiliation. 
 
 Membership 
 
 interest. 
 
 5. The said Samuel Bickerton Harman, John J, 
 Mason, G. W. Banks, E. R. C. Clarkson, R. T. Coady, 
 W. H. Cross, W. A. Douglas, H. W. Eddis, W. F. 
 Findlay, R. H. Gray, Francis C. Ireland, J. W. 
 Johnson, John Massey, R. D. Millar, J. T. Moore, A. 
 G. Ramsay, Charles Robertson, and S. Whitt, shall be 
 the Officers and Council of the Institute until others 
 under the provisions of this Act shall be elected to 
 fill their place. 
 
 6. The Council may fix an entrance and an annual 
 fee or subscription to be paid by all members, and may 
 vary the amount from time to time, and no member 
 shall be personally liable for any debt of the Institute 
 beyond the amount of his unpaid fees or subscription as 
 aforesaid. 
 
 7. An annual meeting shall be held for the election 
 of the Council of the Institute, and for such other busi- 
 ness as may be brought before such meeting, at such 
 time and place, and under such regulations and notices, 
 as by the By-laws of the Institute shall be determined ; 
 and in default of such election being held at the proper 
 time, the existing council shall continue to act until 
 their successors shall be duly appointed. 
 
 8. The institute may admit as members such per- 
 sons as it sees fit, and may expel any member for viola- 
 tion of the Rules and By-laws of the Institute on complaint 
 and after enquiry. 
 
 9. The Institute shall have power to affiliate with 
 any other Institute or Association of Accountants, whether 
 in the Dominion of Canada, Great Britain or the United 
 States of America, or elsewhere, for purposes of mutual 
 benefit to the profession. 
 
 10. If any member, during his lifetime, ceases to be 
 a member of the Institute, he shall not, nor shall his 
 representatives, have any interest in or claim against 
 the funds or property of the Institute. 
 
The Institute of Chartered 
 Accountants of Ontario. 
 
 BY-LAWS. 
 
 MEMBERSHIP, 
 
 1. The membership of the Institute of Chartered Classes of 
 Accountants of Ontario shall consist of two classes, 
 namely, Fellows and Associates. 
 
 2. Admission to membership shall be by ballot of How admitted, 
 the members at any general meeting of the Institute ; but 
 
 every applicant shall first satisfy the Council of his fitness 
 for such admission. The Council may, in their discretion, 
 decline to submit any application to the members, for 
 reasons which may appear to them good and sufficient, 
 or for want of satisfactory information. 
 
 3. Any member may tender his resignation, which Resignations, 
 must be in writing, but the same shall not take effect 
 
 unless or until all arrears of fees have been paid. 
 
 4. Any member whose fees are not paid within three Suspension of 
 
 T ' 1 privileges. 
 
 calendar months after the date when such fees have 
 
 become due and payable, may be suspended by the 
 Council from the privileges of membership. The pay- 
 ment of such fees shall (subject to the provisions of the 
 By-law next following) re-instate a suspended member. 
 
 5. Any member whose fees are not paid within three Termination of 
 calendar months after the date when fees for the year Membersbl P- 
 next following have become due and payable, may be 
 deemed to have thereby terminated his membership, and 
 the Council may direct that his name be removed from 
 the list of members. Such person may be re-admitted by 
 ballot of the members upon such terms as the Council 
 shall approve. 
 
Honorary 
 
 members. 
 
 Partnerships. 
 
 Requirements 
 for affiliation. 
 
 Eligibility. 
 
 IO 
 
 6. Persons who shall have rendered conspicuous 
 service to the Institute, either in the advancement of its 
 educational objects or its general welfare or by material 
 contributions to the library or other funds of the Insti- 
 tute, may by the unanimous vote of the members present 
 at any meeting of the members, be elected to honorary 
 membership of the Institute. 
 
 7. Honorary membership shall not confer upon any 
 person elected thereto the right to be styled a “ Fellow ” 
 or an “ Associate ” or a “ Chartered Accountant ” or to 
 be elected to the Council or to vote. 
 
 8. Chartered Accountants practising in partnership 
 with persons who are not Chartered Accountants, shall 
 not use after the title of the firm the initials “ F.C.A.,” 
 nor describe the partnership or firm as “ Chartered Ac- 
 countants.” Any person named in connection with a 
 firm by advertisement or otherwise, shall be deemed a 
 partner for the purpose of this By-law. 
 
 AFFILIATED INSTITUTIONS 
 
 9. Educational institutions having a department de- 
 voted to the study of accounts may become affiliated with 
 the Institute upon such terms and for such purposes as 
 the Council may from time to time prescribe. 
 
 10. No educational institution may become affiliated, 
 nor continue to be affiliated with the Institute, for the 
 purpose of conducting Intermediate Examinations, unless 
 the Principal thereof or the head of the commercial 
 department is a member of the Institute. 
 
 STUDENT-AT-ACCOUNTS. 
 
 11. Any person not under sixteen years of age, being 
 employed in keeping books of account, or as clerk to a 
 public accountant, may apply to the Council to be regis- 
 tered as a student-at-accounts. Every such applicant 
 shall furnish evidence in such form as the Council may 
 direct, as to his age, occupation and character. 
 
II 
 
 12. Registered students shall be entitled to attend the Student*’ 
 
 # Privileges. 
 
 monthly meetings of the Institute and to take part in the 
 discussions of papers read thereat, but shall not be en- 
 titled to vote. 
 
 13, Students may form an Association for the better Students’ 
 
 0 ’ . Association 
 
 advancement of their studies and professional knowledge 
 
 and for the purpose of making recommendations affecting 
 their joint interests for the consideration of the Council, 
 but all rules or regulations for the self-government of 
 such Association shall only have force or effect when the 
 same shall have been approved by the Council. 
 
 COUNCIL 
 
 14. The Council shall consist of fifteen members. All Composition of 
 members in good standing shall be eligible for election 
 
 thereto. 
 
 15. Nominations of candidates for election to the Nominations for 
 Council must be in writing, signed by two members of the 
 
 Institute, and must be lodged with the Secretary at least 
 fourteen days before the date of the annual meeting. 
 
 16. A voting paper containing the names, alphabet- of 
 
 ically arranged, of the persons nominated for election to 
 
 the Council, shall be sent by mail to each member in good 
 standing at least ten days before the date of the annual 
 meeting, and the Council shall be elected by means of 
 such voting papers, whether the members voting be 
 present at, or absent from the annual meeting. 
 
 17. The Council shall have power to apply the funds of 
 the Institute, after payment of current expenses, in pro- 
 viding rooms for the Institute and furnishing the same, 
 and in the purchase of books and literature pertaining to 
 the profession. 
 
 OFFICERS 
 
 18. At the annual meeting in each year, two members Election of 
 of the Institute, not members of the Council, shall be 
 elected Auditors for the ensuing year. 
 
12 
 
 Election of 
 President and 
 other officers. 
 
 Vacancies. 
 
 Duties of 
 Officers. 
 
 Duties of 
 Secretary. 
 
 Duties of 
 Treasurer. 
 
 President to 
 Countersign. 
 
 19. Immediately after the election of the Council, the 
 members elected shall meet and elect a President, First 
 and Second Vice-Presidents, a Secretary and a Treasurer, 
 from among their number. 
 
 20. Vacancies which may occur in the offices of the 
 Institute, by death or otherwise, between two annual 
 meetings, may be filled by the Council. 
 
 Duties of the officers, 
 
 21. The President shall preside and preserve order at 
 all meetings of the Institute and Council. In his absence 
 a Vice-President shall exercise the office of President. In 
 the absence of the President and both Vice-Presidents, a 
 Chairman, who for the time being shall be invested with 
 the powers of the President, shall be elected by a majority 
 of those present entitled to vote and voting. 
 
 22. The Secretary shall conduct the correspondence, 
 notify members of the Institute and Council of all meet- 
 ings to be held, record proceedings thereat, keep a regis- 
 ter of the Fellows, Associates, Students and Affiliated 
 Institutions, with their addresses, see that the applications 
 for admission and the recommendations accompanying 
 the same are in the form prescribed, make the necessary 
 investigations in respect thereto, send all required notices 
 to the members of the Institute and of the Council, and 
 generally perform such other duties as appertain to the 
 office of a Secretary. 
 
 23. The Treasurer shall receive the fees, subscrip- 
 tions and moneys accruing to the Institute, dispose of 
 the same as the Council may direct, draw and sign all 
 cheques, keep correct accounts, prepare proper financial 
 statements at the termination of each calendar year, and 
 generally perform such other duties as appertain to the 
 office of a Treasurer. 
 
 24. All cheques shall be countersigned by the Presi- 
 dent or a Vice-President ; and all diplomas and certifi- 
 cates shall be signed by the President (or in his absence 
 by a Vice-President), and by the Secretary, and attested 
 by the Seal of the Institute. 
 
i3 
 
 25. The Auditors shall examine all books of account, 
 vouchers, balance sheets and other financial documents, 
 and report thereon to the members at the annual meeting, 
 and to the Council at least seven days before the date 
 of the annual meeting. 
 
 COMMITTEES. 
 
 26. The Council may from time to time appoint 
 Committees for the purpose of facilitating business. The 
 President, Vice-Presidents, Secretary and Treasurer shall 
 be ex-officio members of all Committees, 
 
 27. The Council shall appoint a Committee on Mem- 
 bership, whose duty it shall be to report to the Council 
 when required upon all matters affecting the standing of 
 members and students. 
 
 28. When five members reside in any town or city 
 other than Toronto, they may become a Local Committee 
 for the purpose of recommending such action as they may 
 deem desirable for the consideration of the Council. 
 
 MEETINGS. 
 
 29. The annual meeting of the Institute shall be held Annual meeting 
 on the third Friday in July in each year (unless the said 
 
 third Friday be a statutory holiday, then on the following 
 Friday) at such time and place as the Council shall from 
 time to time determine. At least one week’s notice shall 
 be given of the annual meeting. 
 
 30. Meetings of the Institute for the transaction of ^etiifgs 
 general business, the reading of papers and the discussion 
 
 of questions of interest to the profession, may be held 
 whenever the Council shall deem expedient. At least 
 one week’s notice shall be given of such meetings. 
 
 31. Special meetings of the Institute shall be called ^eedngs 
 by the President after the receipt of a requisition signed 
 
 by not less than ten members. At least one week’s notice 
 specifying the special business to be brought forward 
 shall be given of such meeting. 
 
 32. Meetings of the Institute may be adjourned from Ad j° urnment 
 time to time by resolution of a majority of the members 
 
 present ; but no business shall be transacted at any 
 adjourned meeting other than the business left unfinished 
 at the meeting from which the adjournment took place. 
 
 Duties of 
 Auditors. 
 
 Sundry 
 
 Committees. 
 
 Membership 
 
 Committee. 
 
Council' 
 
 meetings. 
 
 Committee 
 
 meetings. 
 
 Order of 
 business. 
 
 33. Meetings of the Council shall be held at least 
 quarterly at such time and place as the President shall 
 determine. At least three days’ notice shall be given 
 of all meetings of the Council. 
 
 34. Meetings of Committees shall be called by the 
 Chairman thereof, respectively, upon notice from the 
 Secretary of the matters referred to them by the Council, 
 Committees shall report to the meeting of the Council 
 next following that from which the reference was made. 
 At least three days’ notice shall be given of all meetings 
 of Committees. 
 
 35. The following shall be the order of business at 
 meetings : 
 
 1. The Council — 
 
 (a) Minutes. 
 
 (b) Correspondence. 
 
 { c ) Reports of Committees. 
 
 (d) Applications. 
 
 (e) Accounts. 
 
 (f) General Business 
 
 Papers to be 
 read. 
 
 Subjects 
 
 prohibited. 
 
 Quorum. 
 
 2. The Institute — 
 
 (a) Minutes. 
 
 ( b ) Correspondence. 
 
 {c ) Elections to Membership. 
 
 (d) General Business. 
 
 36. All papers intended to be read at meetings of the 
 Institute must first be submitted to the Council for their 
 consideration and approval, or direction, or otherwise a 
 two-thirds vote of the members present will be necessary 
 for their introduction at any meeting. 
 
 37. The introduction or discussion of political or re- 
 ligious subjects shall not be permitted at any meeting. 
 
 38. Seven shall constitute a quorum for the trans- 
 action of business at all meetings of the Institute, five at 
 all meetings of the Council and three at all meetings of 
 Committees. 
 
i5 
 
 39* The proceeding's at all meetings shall be gov- Rules of order, 
 erned by the rules laid down in Cushing’s Manual, except 
 as the By-laws of the Institute otherwise provide. 
 
 40. At any meeting of the Institute two members Voting by ballot 
 may demand that the voting upon any question before 
 
 the meeting shall be by ballot, and the President shall 
 thereupon appoint two Scrutineers for the purpose of 
 taking the vote. 
 
 41. At every meeting of the Institute every member Voting 
 in good standing shall have a vote. 
 
 Qualifications, 
 
 EXAMINATIONS. 
 
 42. The Council shall, from time to time, make such Examination 
 rules and regulations with regard to examinations, re ^ ulatlons * 
 diplomas and certificates as they may deem advisable, 
 
 and shall, as urgency may require, appoint Examiners 
 whose duty shall be to examine, either by written or by £ xam j ners 
 written and oral questions, in the several subjects set 
 apart by the Council, all who have been referred for 
 examination, 
 
 43, The Council shall hold examinations in each 
 year, which shall be termed respectively the Primary, 
 Intermediate and Final Examinations. 
 
 44. All applicants for admission to membership shall Membership 
 pass the said Primary, Intermediate and Final Examina- test * 
 tions, or equivalent tests, as hereinafter provided, and 
 
 those applicants only, who have passed such examina- 
 tions or tests, shall be eligible for admission. 
 
 45. At least two months’ notice shall be given to the Notice of 
 members and to registered students, of all examinations Examinati oB' 
 to be held, and such notice shall state the places at which 
 candidates may be examined. 
 
 PRIMARY EXAMINATIONS. 
 
 46. The Primary Examinations shall be conducted in Subjects in 
 the following subjects or such variations or modifications Primar y* 
 thereof as the Council may from time to time deem 
 expedient : 
 
16 
 
 Equivalents of 
 
 Primary 
 
 Examinations. 
 
 Who may con 
 duct Primary 
 Examination. 
 
 Who may 
 apply. 
 
 ^^(i) Business Composition and Correspondence. 
 
 (2) Spelling- and Punctuation. 
 
 (3) Arithmetic. 
 
 (4) Penmanship. 
 
 (5) Elementary Book-keeping. 
 
 (6) Common Latin Terms and Roots. 
 
 (7) British and Canadian History. 
 
 ^M 8 ) Geography. 
 
 (9) Stenography (Optional). 
 
 47. The Council may, from time to time, by resolution 
 designate examinations conducted by reputable educa- 
 tional institutions within the Province of Ontario or else- 
 where, which shall be deemed equivalent to the Primary 
 Examination ; and all applicants who shall have passed 
 any examination so designated, shall be exempted from 
 the Primary Examination. The Council may in like 
 manner provide that under certain conditions, a term of 
 practical experience at accounts shall be deemed equiva- 
 lent to the Primary Examination; and all applicants who 
 shall have fulfilled such conditions may be exempted from 
 the Primary Examination in the discretion of the Council. 
 
 48. The Council may delegate the conduct of the 
 Primary Examination to any educational institution with- 
 in the Province of Ontario which has become affiliated 
 with the Institute, and whose prescribed course of study 
 and examination shall meet the requirements of the 
 Council ; provided that no candidate shall be examined in 
 such Primary Examination by an affiliated institution 
 unless such candidate shall have applied to the 
 Council for registration as a Student-at-Accounts and shall 
 have been approved and referred by the Council for such 
 Examination. 
 
 INTERMEDIATE EXAMINATIONS. 
 
 49. Any person who has passed the Primary Examin- 
 ation, or who has been exempted therefrom by the Council, 
 may apply to the Council to be examined in the Inter- 
 mediate Examination, provided however that no person 
 shall be so examined who is under nineteen years of age, 
 nor w T ithin one year after passing his Primary or equivalent 
 Examination, 
 
*7 
 
 5o- 
 
 The Intermediate Examinations shall embrace the Subjects of 
 
 Examination. 
 
 following subjects : 
 
 (1) Book-keeping and Accounts. 
 
 (2) Auditing. 
 
 ^ (3) General Commercial Knowledge, including 
 Mercantile Arithmetic. 
 
 (4) Statutory requirements relating to Com- 
 panies, Partnerships, Insolvency and 
 Winding up Acts. 
 
 5 *- 
 
 The 
 
 Council may by resolution provide that any Equivalent 
 
 applicant of known standing as a public accountant, who 
 shall satisfy the Council that he has been continuously in 
 practice at least three years prior to the date of his 
 application, shall be exempted from the Intermediate 
 Examination. 
 
 52. The Intermediate Examinations shall be held in the Where held. 
 City of Toronto and, as required, at educational institu- 
 tions which have become affiliated with the Institute. The 
 Council may, in their discretion, provide facilities for hold- 
 ing such Examinations elsewhere, upon such terms as may 
 be expedient. 
 
 FINAL EXAMINATIONS. 
 
 53. Any person who has passed the Intermediate Ex- Whomjiy 
 animation, or who has been exempted therefrom by the 
 Council, may apply to the Council to be examined in the 
 Final Examination, provided however, that no person 
 shall be so examined who is under twenty-one years of 
 age, nor, unless exempted therefrom, within one year after 
 passing his Intermediate Examination ; and provided fur- 
 ther that no person shall be so examined unless or until 
 he shall have had a term of experience at accounts satis- 
 factory to the Council. 
 
 54. The Final Examination shall embrace the follow- Subjects in 
 . . . a Final, 
 
 ing subjects : 
 
 (1) Advanced Book-keeping and Accounts. 
 
 (2) Auditing. 
 
 (3) Business Law — including Statutes relating to 
 
 Banks, Companies, Partnerships, Execu- 
 tors and Administrators and Bankruptcy. 
 
Where held. 
 
 Equivalent 
 
 Tests. 
 
 Membership 
 
 privileges. 
 
 How admitted. 
 
 Privileges. 
 
 18 
 
 55. The Final Examinations shall be held in the City 
 of Toronto, under the supervision of the Exa.mination 
 Committee, The Council may in their discretion provide 
 facilities for holding such Examination elsewhere, upon 
 such terms as may be expedient. 
 
 56. The Council may by resolution provide that any 
 applicant for membership who has passed the prescribed 
 tests of efficiency of another incorporated body of account- 
 ants, shall be exempted from the Final Examination. The 
 applicant in such case shall furnish evidence as to the 
 nature of such tests, and a certificate of his standing- from 
 the Secretary of such incorporated body, and also such 
 further evidence as the Council may require of his fitness 
 to be admitted to membership. 
 
 57. Every person who has passed the Final Examination, 
 or who has been exempted therefrom by the Council, shall 
 be entitled to have his name submitted to the ballot of the 
 members for admission to membership, and in the event 
 of being so admitted, shall have the right, during the con- 
 tinuance of his membership, to use the appellation “Chart- 
 ered Accountant,” and to be styled an “Associate.” 
 
 FELLOWSHIPS. 
 
 58. Any Associate in good standing wffio having become 
 a member prior to the sixteenth day of February, 1899 , has 
 been in practice continuously for the term of three years 
 subsequent to his admission to membership, or who, having 
 become a member since the date aforesaid has been in 
 practice continuously for the term of five years subsequent to 
 his admission to membership, may by a vote of the Council, 
 be admitted a Fellow, provided however, that no Associate 
 shall be so admitted who is under thirty years of age. 
 
 59. Any Associate in good standing who is not in 
 practice, or who has not been in practice continuously for 
 the term of years applicable to his case, may by a vote of 
 the Council, confirmed by a vote of the Fellows, be ad- 
 mitted a Fellow. 
 
 60. Every Fellow shall have the right, during the con- 
 tinuance of his membership, to use after his name the 
 distinctive letters F.C.A., (Fellow of the Chartered Ac- 
 countants). 
 
19 
 
 FEES. 
 
 61. Every candidate whom the Council shall refer for Examination 
 
 . Fees. 
 
 examination shall, before such examination takes place, 
 pay the following- fees : — 
 
 For Primary Examination $5.00. 
 
 For Intermediate Examination $10.00. 
 
 For Final Examination $10,00. 
 
 62. Every person who shall be elected an Associate Associate Fee. 
 shall thereupon pay a fee of Twenty Dollars ($20,00). 
 
 63. Every Associate who shall be admitted a Fellow Fellows’ Fee. 
 shall thereupon pay a fee of Fifty Dollars ($50.00). 
 
 64. Annual fees shall be due and payable on the second Annual Fees, 
 day of July, for the twelve months then ensuing as fol- 
 lows : — 
 
 Fellows $5.00. 
 
 Associates resident in Toronto $5.00. 
 
 Associates not resident in Toronto $3.00. 
 
 65. Affiliated institutions shall not be required to pay 
 an annual fee, but in lieu thereof shall conduct the Primary 
 and Intermediate Examinations, whenever so required by 
 the Council, without expense to the Institute. 
 
 SALARIES. 
 
 66. The Secretary, Treasurer, Examiners and Audi- 
 tors shall receive such remuneration as the Council shall 
 from time to time determine. 
 
 TRIALS AND PENALTIES. 
 
 67. Any member, or any aggrieved person, may pre- Charges of 
 fer to the Council in writing, charges of default or mis- misconduct, 
 conduct on the part of a member or a student. If in the 
 opinion of the Council, a formal investigation is required, 
 
 a special meeting of the Council shall be held for that 
 purpose, of which ten days’ notice shall be given to all 
 concerned. If the charges be sustained, the offender may 
 be dealt with as the Council shall see fit. 
 
 68. Upon if being made to appear subsequently that May bs 
 
 for want of sufficient information or for other reasonable rcinveSti " ite ^' 
 Cause, the finding of the Council upon any charge of 
 
20 
 
 Charges of 
 infraction of 
 By-laws. 
 
 Notices. 
 
 Informal 
 
 charges. 
 
 Amendments. 
 
 Forms. 
 
 Interpretation. 
 
 By-laws 
 
 repealed. 
 
 default or misconduct was unjust or inequitable, the 
 Council may by resolution to that effect and subject to 
 like restrictions, further investigate the charges and may 
 thereupon confirm, modify or revoke their previous find- 
 ings as shall seem just. 
 
 69. Charges against a member or a student of an 
 infraction of a By-law may be investigated summarily at 
 any meeting of the Council, of which the member or 
 student charged shall be given one week’s notice. If the 
 charges be sustained, the offender may be dealt with as 
 the Council shall see fit, 
 
 70. Notices under the three last preceding By-laws, 
 excepting notices to members of the Council, shall be 
 served personally or sent by registered letter, as the 
 Council shall direct. 
 
 71. The Council shall not be bound to take notice of 
 any article or communication which may appear in the 
 public prints or which may be addressed to any member 
 or other person individually or of any verbal statements, 
 affecting the conduct of a member or a student. 
 
 MISCELLANEOUS 
 
 72. The By-laws for the time being in force may be 
 suspended, altered or added to only in accordance with 
 the provision of the Charter itself in that respect, and by 
 a two-thirds vote of the members present entitled to vote 
 and voting. 
 
 73. The forms set forth in the schedule to these By- 
 laws shall be used in cases to which they are applicable, 
 with such alterations, if any, as the Council may from 
 time to time determine ; and all notes and directions there- 
 on shall be deemed part of the forms and be observed 
 accordingly. 
 
 74. In the event of any dispute as to the intent or 
 meaning of any of these By-laws or of any By-law which 
 may hereafter be made, the interpretation by the Council 
 shall be final and conclusive. 
 
 75. All former By-laws of this Institute are hereby 
 repealed. 
 
21 
 
 SCHEDULE 
 
 FORM A 
 
 To the Council of the Institute of Chartered Accountants of Ontario, 
 
 I, 
 
 of hereby 
 
 apply for registration as a Student-at-Accounts. I have read the 
 Charter and By-laws of the Institute and agree to be bound thereby 
 and by any By-law that may hereafter be made. 
 
 *i. I desire to be examined in due course in the Primary, 
 Intermediate and Final Examinations of the Institute. 
 
 *2. I enclose Certificate of my last Examination, which 
 took place at in 190 
 
 and request that the same may be deemed equivalent to the 
 Primary Examination. 
 
 *3. I have had practical experience at accounts as follows : 
 
 and request that the same may be deemed equivalent to the 
 Primary Examination, 
 
 I refer the Council for evidence of character and habits to 
 
 My present occupation is 
 
 My age is years. 
 
 (Signature in full) 
 
 Address where \ 
 notices may be sent J 
 
 Date 
 
 ♦Strike out the conditions not applicable. 
 
22 
 
 FORM B 
 
 To the Council of the Institute of Chartered Accountants of Ontario. 
 
 I, 
 
 of hereby 
 
 apply for admission to membership of the Institute. 
 
 I have read the Charter and By-laws of the Institute, and agree 
 to be bound thereby, and by any By-law that may hereafter be 
 made. 
 
 *i. I have passed the Intermediate Examination of the 
 Institute at in 190 
 
 *2. I have been in practice as a Public Accountant for the 
 full term of three years prior to this date, and therefore request 
 to be exempted from the Intermediate Examination. 
 
 *3. I have passed the prescribed tests of efficiency of the 
 
 in the year 
 
 and therefore request to be exempted from the Final Examination. 
 
 My present occupation is 
 
 My age is years 
 
 Signature in full. 
 
 Address where \ 
 notices may be sent J 
 
 Date 
 
 ^Strike out the conditions not applicable. 
 
23 
 
 FORM C 
 
 To the Council of the Institute of Chartered Accountants of 
 Ontario. 
 
 The 
 
 located at 
 
 hereby applies for affiliation with the Institute of Chartered Account- 
 ants of Ontario under the provisions of the Charter and By-laws in 
 that behalf, for the purposes of conducting Primary (and intermediate; 
 Examinations when so required. 
 
 The curriculum of The 
 
 includes the study of the following 
 
 subjects : — 
 
 Copies of recent examination papers are submitted herewith,, 
 
 The subjects specified are taught by Mr. 
 
 (*a member and 
 
 of the Institute in good standing), holding the position of 
 
 The undersigned agree on behalf of The 
 
 in the event of affiliation being 
 granted, to be governed by the Charter and By-laws of the Institute, 
 and by any By-law hereafter to be made, in all matters relating to 
 such Primary (and intermediate) Examinations. 
 
 Proprietors 
 or 
 
 Trustees 
 Principals 
 and 
 
 Commercial Instructors 
 
 Date 
 
 Action of Council. 
 
 ♦Strike out if not desired. See By-law 15. 
 
NAMES, ADDRESSES AND DATES OF ADMISSION 
 OF MEMBERS OF THE INSTITUTE. 
 
 Anderson, William Henry Penny, 74 Home Life Building-, Toronto 
 June 28, 1900. 5 ’ 
 
 Armstrong, Andrew Frederick, Owen Sound, March 1, 1888. 
 
 Barber, Henry, (Henry Barber & Co.), 18 Wellington St. East 
 Toronto, Feb. 21, 1889, Fellow, Feb. 15, 1895. 
 
 Bennett, Robert Joseph, Woodstock, June 27, 1902. 
 
 Blanchard, Alexander, Hamilton Business College, Hamilton Oct 
 17, 1889. 
 
 Blatch, George Lockhart, 177 Sparks St., Ottawa, June 1, 1895. 
 
 Bunnell,^ Arthur Kennedy, City Hall Building, Brantford, June 27, 
 
 Clark, 0 homas Sinclair, Bank of Montreal, Kingston; Nov. 21, 1893. 
 
 Clarkson, Edward Roper Curzon, (Clarkson & Cross), 33 Scott St., 
 Toronto, Feb. 1, 1883, Fellow, Nov. 4, 1885. 
 
 Coady, Richard Theodore, City Treasurer, Toronto, Feb. 1 , 1883, 
 Fellow, Nov. 24, 1887. 
 
 Cross, William Henry, (Clarkson & Cross), 33 Scott St., Toronto, 
 Feb. 1, 1883, Fellow, Nov, 24, 1887. 
 
 Crossin, Albert Livingstone, 59 Yonge St., Toronto, June 28, 1900. 
 
 Dawson, Percy H. B., Sault Ste. Marie, June 23, 1899. 
 
 Eagleson, David, Lindsay, Feb. 12, 1891. 
 
 Eddis, Wilton Clement, 23 Toronto St., Toronto, Feb. 15, 1895 
 Fellow, March 1, 1899. - 
 
 Edwards, Arthur Harper, (Edwards & Co.), 26 Wellington St. East, 
 Toronto, June 27, 1902. 
 
 Edwards, George, (Edwards & Co.), 26 Wellington St. East, Toronto. 
 Feb. 21, 1889, Fellow, Oct. 17, 1889. 
 
 Findlay, William Forrest, 47 James St. South, Hamilton, Feb. 1, 1883, 
 Fellow, Nov. 24, 1887. 
 
 Fisher, Frank E., 915 King St. West, Toronto, July 19, 1901. 
 
 Fleming, Christopher A., Northern Business College, Owen Sound 
 Feb. 15, 1895. ’ 
 
 Gilbert, Frederick Charles, 176 Wellington St., Ottawa, July 19, 1901. 
 
25 
 
 Goldman, Leopold, North America Life Building-, Toronto, June ], 
 1883, Fellow, Feb. 15, 1895. 
 
 Gordon, Harry Duncan Lockhart, 33 Scott St., Toronto, June 21, 1898. 
 
 Gunn, Edmond, 87 Front St. West, Toronto, June 21, 1898. 
 
 Hardy, James, (Jenkins & Hardy), 15j^ Toronto St., Toronto, March 
 18, 1886, Fellow, Feb. 15, 1895. 
 
 Hoskins, David, British American Business College, Toronto, July 
 9, 1897. 
 
 Hudson, Oscar Murray, (Vigeon & Hudson), Imperial Bank Building, 
 Toronto, Oct. 17, 1889. 
 
 Jackson, J. A., Ottawa, June 23, 1899. 
 
 Jephcott, Alfred, 38 Adelaide St. West, Toronto, Feb. 26, 1891, 
 Fellow, April 24, 1893. 
 
 Jewell, George Frederick, 361 Dundas St., London, June 21, 1883, 
 Fellow, May 7, 1886. 
 
 Johnson, John W., (Robinson & Johnson), Ontario Business College, 
 Belleville, Feb. 1, 1883, Fellow, Nov. 4, 1885. 
 
 Johnson, George Washington, Upper Canada College, Toronto, Nov. 
 21,1893. 
 
 Kernahan, William Thomas, 33 Wellesley St., Toronto, Nov. 21, 1893. 
 
 Kidd, Francis Howard, 77 York St,, Toronto, June 25, 1894. 
 
 Kittson, Henry N., 25 Main St. West, Hamilton, Feb. 1, 1883. 
 
 Langley, James P., (Langley & Lailey), McKinnon Building, Toronto, 
 June 28, 1900. 
 
 Lawson, Arthur T., 129 Bellwoods Ave., Toronto, June 28, 1900. 
 
 Levack, William Pierce, 38 Grange Ave., Toronto, June 27, 1902. 
 
 Lye, Henry, Vancouver, B.C,, May 24, 1887, Fellow, Nov. 24, 1887. 
 
 Martin, James Sandford, 250 Wellington St. West, Toronto, June 
 28, 1900, 
 
 Martin, John Maltman, 21 Clarence Square, Toronto, June 21, 1883, 
 Fellow, Jan. 17, 1889. 
 
 Mason, John James, Masonic Building, Hamilton, Feb. 1, 1883, Fellow, 
 Nov. 24, 1887. 
 
 Merson, George Ogston, Toronto, June 27, 1902. 
 
 Menger, William Orlando, 37 James St. South, Hamilton, July 19, 1901. 
 
 Moore, John T., Moore Park, Davisville, Feb. 1, 1883, Fellow, Nov. 
 24, 1887. 
 
 Mortimer, Herbert, Confederation Life Building, Toronto, July 9, 1897. 
 
 Macpherson, Frank Herbert, 16 Sandwich St., Windsor, July 9, 1897, 
 Fellow, Feb. 25, 1902. 
 
 McDiarmid, Edward B,, Nelson, B.C., June 27, 1902, 
 
 McKeand, Thomas Kilner, County Buildings, Chatham, July 9, 1897. 
 
26 
 
 Neff, Arthur Clifton, (Neff & Postlethwaite), 26 Wellington St. East, 
 Toronto, April 15, 1884, Fellow, Nov, 21, 1899. 
 
 Neilson, James, Windsor, June 27, 1902. 
 
 Over, Spencer Henry, (Eastern Audit Co.), 53 State St., Boston, Mass., 
 June 28, 1900. 
 
 Pentelow, William Mitchener, Guelph, July 9, 1897. 
 
 Postlethwaite, Colin Ridout Wellesley, (Neff & Postlethwaite), 26 
 Wellington St. East, Toronto, June 21, 1898. 
 
 Rapelji, Henry, St. Thomas, July 9, 1897. 
 
 Rowley, O. R,, Bank of British North America, Halifax, June 1, 1895, 
 Savage, George Arthur, 204 St. James St., Montreal, Jan. 20, 1888. 
 Scott, Charles Sumner, 28 James St. South, Hamilton, June 28, 1900. 
 Scully, John Meshach, Waterloo, June 21, 1898, Fellow, Feb. 25, 1902. 
 Sharpe, Frederick Sterling, 47 Canterbury St,, St. John, N. B., Dec. 
 
 15, 1887, Fellow, June 20, 1888. 
 
 Shultis, Adam, 174 William St,, Brantford, June 28, 1900. 
 
 Smeeton, Arthur E., 20 Springdale St., St. John’s, N’fd, June 23, 1899. 
 Stiff, George Ussher, Imperial Bank Building, -Toronto, June 27, 1902. 
 Stone, Charles Edgar, 7 King St. West, Toronto, May 1, 1891. 
 Tindall, William B., 74 Home Life Building, Toronto, June 20, 1883. 
 Townsend, Sherman Edgar, McKinnon Building, Toronto, June 
 21, 1883. 
 
 ViGEON, Harry, (Vigeon & Hudson), Imperial Bank Building, Toronto, 
 April 16, 1891, Fellow, Nov. 27, 1895. 
 
 Wade, Osier, 34 Victoria St., Toronto, June 27, 1902. 
 
 Walker, Albert James, Home Life Building, Toronto, June 27, 1902. 
 Walker, Walter James, New Westminister, B.C., Nov. 18, 1888. 
 Walsh, Joseph C., Herald Building, Montreal, June 20, 1893. 
 
 West, William Henry, 8 Stevens Building, San Antonio, Texas, 
 June 23, 1899. 
 
 Westervelt, James William, 415 Yonge St., Toronto, June 27, 1902. 
 Williamson, Thomas Gibb, 19 Melinda St., Toronto, June 27, 1902. 
 Wills, Alexander William, 80 York St., Toronto, July 9, 1901. 
 
 Wilson, P. Turner, 71 Huntley St., Toronto, Feb. 26, 1890. 
 
 Wood, Edward Rogers, 26 King St. East, Toronto, Jan. 26, 1888, 
 Young, John Henry, 90 Yonge St., Toronto, June 21, 1898, 
 
 Young, Maitland, Canada Life Building, Toronto, June 26, 1888. 
 Young, Ralph E., Canada Life Building, Toronto, July 9, 1897. 
 
27 
 
 HONORARY MEMBERS. 
 
 Elected under authority of By-Law 6. 
 
 Anderson, William, Toronto. 
 
 Burton, P. H., - - “ 
 
 Canniff, H. T., - 
 
 Eddis, Henry W. , “ 
 
 Ellis, Philip W., 
 
 Gibson, Hon. J. M., K.C., ii 
 
 Hedley, James A., -------- “ 
 
 McCabe, William, F.I.A., 
 
 Thomson, D. E., K.C., - “ 
 
 AFFILIATED COLLEGES. 
 
 Belleville, Ont. : 
 
 Ontario Business College — J. W. Johnson, F.C.A., Principal. 
 Hamilton, Ont. : 
 
 Hamilton Business College — A. Blanchard, C. A., Commercial Master. 
 Owen Sound, Ont.: 
 
 Northern Business College — C. A. Fleming, C.A., Principal. 
 Toronto, Ont.: 
 
 British American Business College — David Hoskins, C.A., Principal. 
 
28 
 
 The CHARTERED ACCOUNTANTS STUDENTS' 
 ASSOCIATION. 
 
 Organized under the authority of By-law 13 of the Institute of Chartered 
 Accountants of Ontario. 
 
 OFFICERS FOR 1901-2. 
 
 Geo. Edwards, F.C.A., - Hon. President. 
 
 Wilton C. Eddis, F.C.A., - Hon. Vice-President. 
 
 Arthur H. Edwards, - President. 
 
 W. Pomeroy Morgan, - Secretary. 
 
 26 Wellington Street East, Toronto. 
 
 Any person who is eligible for registration as a student under By-law 
 11 of the Institute may become a member upon payment of an annual 
 fee of one dollar. 
 
 The annual meeting is held in the month of September, and meetings 
 are held fortnightly thereafter until the April following, at which 
 subjects of study for the Institute examinations are discussed and 
 lectures delivered by members of the Institute and others. 
 
 A select library of accountancy, text books and literature is owned 
 by the Association for circulation among the members. Books must be 
 exchanged at the regular meetings, or oftener as may be arranged by 
 the Committee. All further information, programmes of meetings, etc., 
 will be furnished on application to the Secretary. 
 
29 
 
 INFORMATION FOR INTENDING 
 CANDIDATES. 
 
 Primary Examinations. 
 
 The object of the Primary Examination by the Institute is to reason 
 ably insure that future candidates for membership shall be men of good 
 general education, the Council holding the view that the comparatively 
 slow progress made hitherto towards obtaining recognition from the 
 public of the claims of accountancy to be considered as a profession, 
 had been due in no small measure to the superficial character of the 
 education deemed to be necessary to fit a man for intelligently under- 
 taking the duties of an accountant, or even of a book-keeper (understood 
 in the sense of one versed in one branch only of accountancy). While 
 it may be true that every accountant will find his own level on the 
 ground of natural ability alone, it is equally certain that the accountant 
 who has had the initial advantage of a good general education, supple- 
 mented by a judicious course of special training for his calling or pro- 
 fession, will outdistance the accountant who has not had these advan- 
 tages, everything else being equal. 
 
 To give effect to the aims and objects of the Institute, as set forth 
 in the Charter of Incorporation, a good standard of education in its 
 future members must be maintained as a “ sine qua non.” The Council 
 desires to avoid, so far as may be possible, the actual holding of primary 
 examinations, having no special facilities for the early training of young 
 men in subjects of general education. These facilities being so abun- 
 dant, and the standards of study and examination in our high schools 
 and in the many colleges and other educational institutions to be 
 found scattered over the Province being so unquestionably high, the 
 Council will in all cases recognize the desired standing acquired 
 therein. Thus far it has not been thought expedient to adopt any 
 arbitrary specification of the educational attainments necessary to 
 secure for the candidate exemption from the Primary Examination. 
 The merits of each case presented for consideration will be taken care- 
 fully into account by the examining committee of the Institute, and if 
 the evidence fails to satisfy the committee, then the candidate will be 
 required to undergo the Primary Examination prescribed by the By-law 
 
30 
 
 Intermediate Examinations. 
 
 The Intermediate Examinations of the Institute are intended to 
 afford to students who desire to take up accountancy as a profession an 
 opportunity to test their general progress in professional knowledge, to 
 enable the Council to form an estimate of their capabilities, and to advise 
 upon and direct, so far as may be, their course of preparation for the 
 Final Examination, which qualifies for admission to membership as an 
 Associate. 
 
 The Intermediate Examinations are held in the month of May in each 
 year, at the offices of the Institute in Toronto and elsewhere within the 
 Province where educational institutions have been affiliated for such 
 purposes. The Council is empowered to conduct an Intermediate 
 Examination wherever the circumstances of the case may make such 
 course expedient, and facilities can be provided. As this provision is 
 for the convenience of intending candidates residing at a distance or 
 wdiose business engagements may prevent their attendance at Toronto, 
 any extra expenses incurred in connection therewith must be borne by 
 the candidate in addition to the fees specified by By-law. 
 
 The Council has no power to exempt any candidate from the Inter- 
 mediate Examination excepting his case comes within the provisions of 
 By-law 51. Valuable time will be saved if candidates will not otherwise 
 apply for exemption. 
 
 To pass this examination, the candidate must obtain fifty per cent, 
 of the maximum marks fixed by the Examiners, Further, the candidate 
 must obtain forty per cent, on at least four papers, and must satisfy the 
 Examiners as to his acquirements in book-keping. 
 
 Applications for examination in the Primary and Intermediate 
 Examinations must be in the form provided in the Schedule to the 
 By-laws, and must reach the Secretary not later than the last day of the 
 month preceding the examinations. 
 
3 
 
 Final Examinations. 
 
 The Final Examinations of the Institute are held in the month of 
 May at the offices of the Institute, or such other place in the City of 
 Toronto as the Examination Committee shall decide. To meet circum- 
 stances of a special or unusual nature, the Council is empowered to 
 conduct a Final Examination wherever suitable facilities can be pro- 
 vided, the extra expenses incurred being- borne by the candidate in 
 addition to the fees specified by By-law. 
 
 Careful analysis of the work done by candidates in the Institute 
 Examinations during the past few years have demonstrated the great 
 value of business experience as a course of preparation therefor. Here- 
 after no candidate will be permitted to write in the Finals who has not 
 supplemented his studies by a reasonable period of practical work in a 
 business office, or under the direction of a practising accountant. 
 
 The maximum marks obtainable in this examination are fixed by the 
 Examiners. Sixty per cent, of said marks will pass the candidate, pro- 
 vided, however, that fifty per cent., or over, shall have been obtained 
 on at least four papers, and he must satisfy the Examiners as to his 
 acquirements in Advanced Book-keeping and Auditing, otherwise the 
 candidate shall be deemed to have failed, notwithstanding his aggregate 
 marks. 
 
 Passing the Final Examination does not entitle the successful candi- 
 date to be styled an Associate, or to membership in the Institute. The 
 Charter of Incorporation provides that admission to membership and all 
 the privileges thereby conferred shall be by the vote of the members. 
 The examination is a test of eligibility only, on the ground of pro- 
 fessional attainments. The name of each successful candidate will be 
 presented for ballot of the members at the meeting of the Institute next 
 ensuing, unless the candidate otherwise desires. 
 
 Application for examination in the Final Examinations must be in 
 the form provided in the Schedule to the By-laws, and must reach the 
 Secretary not later than the last day of the month preceding that in 
 which the examination is to be held. 
 
32 
 
 TEXT BOOKS FOR STUDENTS. 
 
 The Council do not desire to limit the student in his choice of text 
 books on subjects within the scope of the Institute Examinations, but 
 the following list will probably prove to be of great assistance. At the 
 same time, in view of the necessarily practical character of the qualifica- 
 tions required in candidates to ensure success, the course of study here 
 outlined should be regarded merely as an adjunct to the term of prac- 
 tical business experience which is required by the By-laws. 
 
 Commercial Calculations — 
 
 High School Arithmetic. 
 
 Commercial Law — 
 
 Promissory Notes, Drafts and Cheques - - Johnson, 
 
 Business Educators’ Commercial Law - - - Luscombe 
 
 Laws of Business - Parsons. 
 
 Statute Law — 
 
 Shareholders’ Manual - -- -- -- - Warde. 
 
 Assignments Act - -- - Cassels. 
 
 Executors and Administrators ----- Kingsford. 
 Revised Statutes of Ontario. 
 
 Revised Statutes of Canada. 
 
 Auditing — 
 
 Auditing - -- -- -- -- -- -- Dicksee. 
 
 Goodwill - -- -- -- -- -- -- Dicksee. 
 
 Auditors and their Responsibilities - - - - Pixley. 
 
 Book-keeping and Accounts — 
 
 Canadian Accountant - - - Johnson. 
 
 Expert Book-keeping Fleming. 
 
 Book-keeping for Joint Stock Companies - Hoskins. 
 
 Municipal Accounting - - Macpherson. 
 
 Factory Cost Accounts - -- -- -- - Tindall & Eddis. 
 
 Book-keeping for Accountant Students - - Dicksee. 
 
 Accounting Theory and Practice - - - - Lisle. 
 
 Partnership Accounts - -- -- -- - Childs. 
 
 Executors’ Accounts Caldecott. 
 
33 
 
 General — 
 
 Manual for Accountants (Answers to Examina- 
 tion Questions) Eddis. 
 
 These books and many others may be procured from Mr. W. T. 
 Kernahan, 33 Wellesley Street, Toronto, agent for Canada for Gee & 
 Co’s, publications. 
 
 REGULATIONS RESPECTING 
 EXAMINATIONS. 
 
 1. Examinations, if held at more than one point, shall take place 
 concurrently. 
 
 2. The examinations shall extend over two days commencing at 9 
 a.m. each day, and will occupy from six to seven hours daily. 
 
 3. One or more supervisors will be in attendance at each point 
 where candidates are to be examined, and will remain in the room 
 during the entire session. 
 
 4. No books or papers of any kind may be brought into the room 
 by candidates, and for writing purposes only the paper supplied by the 
 supervisor may be used. 
 
 5. Each candidate will, before the commencement of the examina- 
 tion, select a “ motto,” which he shall sign to the papers containing his 
 answers. A memorandum of identification shall be enclosed in a sealed 
 envelope, and the same lodged with the secretary. This envelope shall 
 remain sealed until after the Examination Committee have made their 
 report to the Council. 
 
 6. Candidates will not be permitted to write unless or until the pre- 
 scribed fees have been paid, and also when required, any special fee to 
 cover extra expenses, and the receipt therefor shall be produced for the 
 inspection of the supervisor, if demanded. 
 
 7. The supervisor will open the sealed packets containing the 
 question papers in the presence of the candidates at the hours specified. 
 
 8. No explanation or opinion concerning any question will be given 
 to the candidates, and no talking will be allowed in the room. 
 
 9. Candidates leaving the room during the time allowed upon any 
 paper will not be permitted to resume, but must give up their papers 
 before leaving. 
 
34 
 
 10. Candidates will be notified of the results as soon as ascertained 
 and a list of the successful candidates will be published in the Toronto 
 newspapers. 
 
 11. Any appeal from the finding- of the Examiners must be made 
 within ten days after the results are made known, whereupon the 
 papers of the candidate appealing will be reviewed by the examining 
 board. After the time for appeal has expired the papers may be 
 destroyed. 
 
 The attention of intending candidates is directed to the advisability 
 of Registering under By-law 11 at a period as well as possible in 
 advance of the dates for holding the examinations, as by so doing they 
 will be assured due notice from time to time of whatever may transpire 
 in their interest. 
 
 INSTITUTE MEETINGS. 
 
 The ordinary monthly meetings of the Institute are held during the 
 third week in each month, from October to April inclusive, at which 
 general business, if any, is transacted, followed by the reading of 
 papers upon subjects of interest to the profession. These meetings are 
 open to the public and to students and their friends who are invited to 
 be present and to take part in the discussions which follow the reading 
 of the papers. 
 
 The place and dates of meetings and the subjects of the papers to 
 be read, are fixed sometime during the month of September and the 
 Secretary will be glad to send the official announcement to anyone 
 leaving name and address with him for that purpose.