Abstract : The year 1935 marked the establishment of the General Headquarters Air Force, the first official recognition that the development of effective airpower necessitated authority for independent action. The purpose of this monograph is to show the organizational growth of the Army air arm from 1935 to September 1945 and to trace the ideas and influences that affects its development. Most significant of these was the continuous effort to attain an autonomous air force, one with a large degree of control over its own affairs internally and the necessary voice in determining its operational activities. Important internal developments included the establishment and implementation of an Air Staff, the application of management devices, the improvement of programming methods, the consolidation of AAF Headquarters offices, and decentralization of command responsibilities.
exists for every i (Theorem 9 of [3]).Following Levy the state i is called stable or instantaneous according as gt-as finite or infinite.We refer to [2 ] for the foundations of the theory of Markov chains under consideration.Although knowledge of these foundations will be necessary for a thorough understanding of what follows, we shall strive to make the present paper readable by itself.Let i be a stable state with q,>0; such a state always exists unless P{x(t) =x(0), 0^t<°° }=l [8, p. 375].Suppose that P{x(0)>=*} =1.LetX=X,(w) be the "first sojourn time" in the state i, namely the length of the first tinterval in which x(t, w)=i (seeTheorem 1 of [2]).Then P{\^t} =l-e~">', t^O [3, p. 54].Let j be an arbitrary state (not oo!) and defineIf J9*i, a is the "first entrance time intoj"; ii j = i, a is the "second entrance time into i" (the first being zero by hypothesis).It is easily shown that a is a random variable in the broad sense, namely a measurable w-iunction defined on a measurable w-set whose probability may be less than one.We define its distribution function in the broad sense by Fij(t)=P{a^t}.Now it can be proved that the two random variables X and a-X (which may be zero with positive probability) are independent^).This is a special case of Theorem 5 of [2], but we give a simple proof as follows.Let us first note that the distribution of a -X may be derived as follows.It can be shown that(3) a(w) considered as a point on the i-axis is the limit from the right of points of Sj(w) ={t: x(t, w) =j}; hence we havewhere h = 2~m, ra->• oo.Now for each 5 > 0 define two random variables X,=X,(w) and a, = aa(w) on the set {w: x(s, w)=i} as follows: X"(w) is the supremum of T such that x(t, w)=i, s^t<s + T; as(w) is the infimum of t such that t>\"(w) and x(t, w) =j.Thus X0 and a0 reduce to the previous X (2) The random variables Zi(w), ■ ■ ■ , z"(w), with domains of definition Ai, • ■ • , A", are said to be independent iff P{ flLx A*[z*M Set] }/P{ f|Li A*l = LTt-i P{A*tz*W £c*]}/P(At) for every real Cx, • • • , ck.(3) In fact, the set Sj(w) is dense in itself (see [2, §4, (ii)]).
TN ORDER to achieve the benefits of decentralization in decision-making, many corporations have developed divisional organizations in which some or all of the separate divisions are virtually autonomous centers. This paper is concerned with the problem of pricing the goods and services that are exchanged between such divisions within a firm and with how these prices should be set in order to induce each division to act so as to maximize the profit of the firm as a whole. The problem is an important one, because the prices which are set on internal transfers affect the level of activity within divisions, the rate of return on investment by which each division is judged, and the total profit -that is achieved by.the firm as a whole. Two recent papers which have drawn attention to the crucial importance of transfer-price policies have also discussed alternative approaches to the problem.' The paper by Cook recommends the use of market-based prices, at least as an ideal, while Dean favors negotiated competitive prices. Such brief description does not, of course, do justice to either of the articles, both of which were more concerned with drawing attention to the importance of decentralization and transfer pricing than with rigorous determination of optimal transfer-price rules. The argument made in the present paper is that market price is the correct transfer price only where the commodity being transferred is produced in a competitive market, that is, competitive in the theoretical sense that no single producer considers himself large enough to influence price by his own output decision. If the market is imperfectly competitive, or where no market for the transferred commodity exists, the correct procedure is to transfer at marginal cost (given certain simplifying conditions) or at some price between marginal cost and market price in the most general case.2
G. Theodore Mitau, Selected Aspects of Centralized and Decentralized Control over Campaign Finance: A Commentary on S. 636, The University of Chicago Law Review, Vol. 23, No. 4 (Summer, 1956), pp. 620-639
T | HE 'Chandos clause' in the i832 Reform Act, which contemporaries believed delivered up the counties to Tory electoral domination, still has its place in the history books. Its author, Richard Plantagenet TempleNugent-Brydges-Chandos-Grenville, second Duke of Buckingham and Chandos, has virtually none. This is a pity, not because his political career is especially significant, although the activities of the Farmers' Friend particularly in influencing and organizing other Members of Parliament might repay investigation; but because his financial affairs are of exceptional interest. In his own time he earned wide notoriety through spectacular financial ruin and utter collapse, culminating in the sale of most of his landed property and personal effects in the course of I 848. It is something of this renown which deserves to be recaptured. Aristocratic indebtedness has attracted considerable attention from historians of many periods in late years, both because of its importance to the proper understanding of the economy of landownership, and because of its possible effects on aristocratic political and economic policy.' If serious debt was sufficiently widespread to be characteristic of the landed aristocracy as a class, or of a considerable section of it, we would rightly expect to see its influence reflected in the political and economic life of the country. In the nineteenth century, the preservation and enhancement of the value of the land which had to carry these debts would then rank as one of the principal interests at stake in the Corn Law controversy. We would expect to find a social and political revolution caused by extensive land transfers made under the pressure of debt, and failing to detect this would justifiably assume that a successful effort to stave off ruin by increasing incomes from land ought to take its place in any general interpretation of the process of economic growth, as part of the great landowners' contribution to that expansion. Eagerness to reach these realms of general speculation has tended to obscure the difficulties of making the first assumption. An array of impressive figures of debts has been taken as sufficient proof. Debts, however, require careful handling as evidence: they may as easily indicate increasing prosperity as increasing adversity, intelligent use of available resources as wayward misappropriation. It would be as unwise to conclude that all aristocrats were in a precarious situation because all had some debts as to say that all governments or all manufacturers were on the verge of bankruptcy because they had large national debts or operated largely on credit. It is common ground that there were several different sources of debt among the landed families of the eighteenth and nineteenth centuries, not all of which were of equal importance in causing serious financial embarrassment. Until
The essence of federalism is the division of sovereignty between two levels of government. In any system of government, there are sovereign and delegated authorities. In a unitary government all sovereign powers are concentrated in the central government, although decentralization for the purpose of administrative efficiency may result in the delegation of certain powers from the central and supreme government to the regional and local subordinate authorities. In a federal state, on the other hand, regional governments, as well as the central authority, are invested with sovereign powers. In no actual case, however, do both levels of government enjoy sovereignty in all domains, since complete concurrence of jurisdictions would lead to incessant conflicts of coordinate authorities. For this reason, federal constitutions indicate, in a more or less precise way, the special fields of absolute competence of the central and the regional authorities. Partial concurrence of jurisdictions may not be excluded, in which case the problem of bringing about agreements between the sovereign powers arises. Administrative efficiency in a federal state requires both centralization and decentralization of executive functions, in much the same way as in a unitary state. If subordinate functions are delegated to the regional governments, these governments become subordinate to the central authority in these fields. On the other hand, administrative efficiency may require the centralized administration of certain matters in the realm of provincial supremacy, for example, the collection of provincial taxes. In this case, the central government would act as an agent of the provincial governments, and be subordinate to them. The two types of powers–sovereign and delegated–must be clearly distinguished in order to prevent unnecessary conflicts of authority.
Among the greatest obstacles in the postwar recovery of steel industry in Japan were. counted the shortage of coal, the removal of subvention to the iron and steelprices and -decentralization of large steel firms. A tragic atmosphere thus clouded was pushed away by the breakout of the Korean Incident (June 1950). Again the prices became enhanced. The export was extended and the production increased. Thence came a chance of modernization of iron and steel industry in Japan. The scheme of this plan that had been plotted by the Rationalization Council in the first half of 1951 was encouraged in the second half by establishment of Japan Development Bank, institution of special overeas credit by the Bank of Japan and the favorable development in Capital market.Capital development and production increase of steel firms in Japan was suceessively realized -during the year of 1951. However, towards 1952 the period of reaction began so that an intensification of the sales competition gradually invited a drop in the steel prices, notwith-standing a temporary short boom due to a steel strike in the United States.In April 1952, the industrial control of the Occupation Forces ended and Japan was again allowed to enter an international economic circles.At this moment, owing to establishment of the European Coal and Steel Community, progress of modernization progress in several countries and recovery of the West-Germany iron and steel industry, the steel industry of Japan too was obliged to be entangled with the international contest.In 1953, the steel market again tended to a slight boom due to domestic investment and consumption but at the end of the same year decrease in bath munition demands and steel export again occurred. Without finding domestic demands, the steel products of Japan began to flow out overseas. At this time happily owing to a shortage of steel export from Europe Japanese products filled the markets of South America and India and enjoyed higher prices. It was also evident at the end of 1954 that the iron and steel industry in rapan again inclined to an expansive production.After such historical introduction, the author described in detail (1) the process of rationalization and financing concerned; (2) trends in the situations of raw materials for iron and steel; (3) domestic market and export; (4) some tendencies in special steels; and (5) future prospects.
The applicability to a quantum liquid of the standard classical formula connecting the compressibility with the coherent scattering cross section for large wavelengths, questioned by the author in a previous paper, is examined. The correctness of the standard formula is proved (a) at absolute zero (the density fluctuations being infranormal); (b) under quantum conditions for all temperatures at which the Wigner expansion converges (it is conjectured that for liquid helium the expansion may diverge below the lambdapoint); and (c) for a one-dimensional crystal for all temperatures. These results, while they stop short of a complete proof of the standard classical formula for all conditions, do extend considerably our knowledge of its range of validity.
5 A similar distinction is made in Minnequa Cooperage v. Hendricks, 130 Ark. 264, 197 S.W. 280 (1917), where it was held that a statute providing for a three-fourths verdict'was unconstitutional though the parties "might have agreed that a less number than the whole might render a verdict."6 Various preliminary distinctions can be made at this point: The burdenof proof in criminal cases is greater than in civil cases; in civil cases life or liberty is not at stake and many more opportunities for compromise are present.7204
Book Reviews139 Thaddée Soiron, O. F. M., La condition du théologien, Introduction et adaptation française par Yves Becker et Jean-Robert Hennion, O.F.M. (Coll. Credo, Paris: Librairie Pion, [1953]; 193pp.) This booklet is the first volume of a new collection, pubUshed under the direction of H. I. Marrou, Professor of the Sorbonne, and of the Franciscan A. Hammann. "Credo" wants to publish theological essays for educated Christians of our time, assays showing the connection between our living Faith and the doctrinal (scientific ?) expression of it. A leading principle of the coUection will be the famous "Back to the sources", meaning here the Bible, the Fathers and Liturgy; consequently, history will be emphasized. The Editors intend to include works originally written in foreign languages, but corresponding to their program. A representative of the so-called ,,Verkündigungstheologie", Soiron first pubUshed his work in 1935, under the title „Heilige Theologie". La condition du théologien is an "adaptation", viz. certain passages are dropped (e. g. pages 7—35, and more phrases in the subsequent text), most of the references, which in the German original were printed in the text, are now in footnote, etc. The translations are quite fluent, though not ideal: for instance, in the first chapter the translators were obviously confused by Soiron's speculations about "Ustening" as first requisite of Faith. They confuse the reader by translating "Hören" and "Haltung" by "attention" (cf. p. 46—47 of the French with p. 35—37 of the German edition); the version of "Haltung" is rather "attitude"; "attention" is a possible translation of "Hören", but does not always render the idea of Soiron. Becker and Hennion note that for the translation of biblical texts (of the New Testament) they usually took Le Nouveau Testament of E. Osty. On principle this method is acceptable . In certain instances, however, an other translation better fits the context: e.g. p. 48, Soiron is speculating upon "hearing the word", and, consequently, Rom. X 17 requires the translation "Ainsi la foi vient de ce qu'on entend; et l'on entend, lorsque la parole du Christ est prêchée". The version of Osty (la foi naît de la prédication et la prédication se fait sur l'ordre du Christ) is correct of course, and, perhaps, better renders the idea of St. Paul; but the version we propose corresponds to the letter of both the Greek and the German, and is required by the context of Soiron. We say it regretfully, but we prefer rather to recommend reading the German original of Soiron. Eligius M. Buytaert, O. F. M. Franciscan Institute The Moral Obligation of Voting. By Titus Cranny, S. A., S. T. D. (Washington, D. C. : The Catholic University of America Press, 1952. Pp. XXVII—155.) The Lawyer Looks Beyond the Law. Essays in Human Dignity. (Issued by the WilUam J. Kerby Foundation. The CathoUc University of America Press, 1951. Pp. 91. % 2,50.) 140Franciscan Studies The moral obUgation of voting, expounded principally in the Ught of certain papal and episcopal documents, is the subject of Fr. Cranny's doctoral dissertation. After a brief discussion of the concept and nature of voting, the author devotes the bulk of his material to the principles governing the obUgation of voting; the dissertation ends with a chapter on particular duties that foUow the duty of voting. In the opinion of the reviewer, the nature of the right to vote has received a far too meager and inadequate discussion. Moreover the title is somewhat misleading: its connotation is wider than the intent of the proofs contained in the mass of material assembled together. The papal and episcopal pronouncements cited by the author deal with the obligation of Catholic to vote, particularly in circumstances where the CathoUc religion, the Church and its institutions are at stake. In the main the work is a restatement of opinions current among theologians; nevertheless it is a timely topic designed to awaken the CathoUc to his civic responsibilities. The other volume under consideration is a collection of seven compact lectures deUvered by specialists in the field of American and reUgious thought at the Twelfth Annual...
140Franciscan Studies The moral obUgation of voting, expounded principally in the Ught of certain papal and episcopal documents, is the subject of Fr. Cranny's doctoral dissertation. After a brief discussion of the concept and nature of voting, the author devotes the bulk of his material to the principles governing the obUgation of voting; the dissertation ends with a chapter on particular duties that foUow the duty of voting. In the opinion of the reviewer, the nature of the right to vote has received a far too meager and inadequate discussion. Moreover the title is somewhat misleading: its connotation is wider than the intent of the proofs contained in the mass of material assembled together. The papal and episcopal pronouncements cited by the author deal with the obligation of Catholic to vote, particularly in circumstances where the CathoUc religion, the Church and its institutions are at stake. In the main the work is a restatement of opinions current among theologians; nevertheless it is a timely topic designed to awaken the CathoUc to his civic responsibilities. The other volume under consideration is a collection of seven compact lectures deUvered by specialists in the field of American and reUgious thought at the Twelfth Annual Round Table Conferences sponsored by the School of Law at the CathoUc University of America. They present a dispassionate appeal to the lawyers and law students to follow the tradition of our former great statesmen who, because they nourished themselves with daily reading of the Scriptures, adhered to commonly held reUgious and moral convictions beyond the scope of positive civil law. In view of the muddled and false concepts on the part of a great many jurists of our generation, regarding Church-State relationship as envisioned in the opening paragraphs of the Declaration of Independence, these essays provide a concise and interesting appUcation of basic truths to the problems of today, especially for lawyers and law students, both CathoUc and nonCatholic . At the same time they point out the task incumbent upon them : to uphold and defend the reUgious inheritance of our nation's statesmen and jurists of past days. There can be no doubt that only in proportion as the lawyer looks beyond the Law, as he participates in Christ's thinking wiU he fuUy grasp the significance of the basic principles set forth in the American Magna Charta of independence. The book is a remarkable symposium, one that should occupy a prominent place on the law student's shelf. It is indeed a noble chaUengeto thejurists of today to look beyond the Law. Addresses and Sermons (1942—1951). By the Most Reverend Amleto Giovanni Cicognani, ApostoUc Delegate to the Unites States. (St. Anthony Guild Press: Paterson, N. J., 1952. Pp. XIII—482. $ 3,50.) There are few Uving persons who have as thorough understanding and deep knowledge of the CathoUc Church in the United States — its history, traditions, institutions and social enviroments which affect the growth and expansion of Catholic life in this country — as His ExceUency the Most Book Reviews141 Reverend Amleto Giovanni Cicognani, ApostoUc Delegate to the United States. Serving in this capacity for the past two decades he has the unequaled opportunity to witness at first hand the reUgious, social, cultural and economic position of the CathoUc Church at all its levels. He has played a prominent role in the inauguration of new dioceses, in the formation of new ecclesiastical provinces, in the consecration and installation of new bishops, in the dedication of new churches, schools and institutions of higher learning. At these and other similar events and gatherings of bishops, priests and laity he has been caUed upon to speak in his official capacity as a representative of our Holy Father. Speaking with the authority invested in him. His ExceUency has avaüed himself of these multiple occasions not only to convey greetings and feUcitations of the Holy Father, and bestow apostoUc blessing on various Catholic enterprises, but chiefly to inculcate, expound and apply CathoUc teaching to significant events and problems of our day. The distinguished prelate's Adresses and Sermons serve as a vehicle to present the CathoUc mind on such varied subjects as racial equaUty, social justice, miUtary service, reUgious...
This chapter examines the demand for global financial governance in the wake of the massive financial crisis of 2007–9. The global financial meltdown acted as a catalyst for a dramatic boosting of the International Monetary Fund's (IMF) resources and the creation of the Financial Stability Board (FSB), both which took place at the G20 leaders’ second summit in April 2009. These initiatives appeared to signal a heightened demand for global-level institutions in the areas of liquidity provision and financial regulation emerging from the crisis experience. But the limitations of that demand also quickly became clear as these global institutions found themselves working with and alongside strengthened regional, plurilateral and national authorities in complex ways. The result is neither a strengthening nor weakening of the demand for global governance, but rather a change in the content of the demand. A new kind of “cooperative decentralization” in global financial governance is emerging, driven by the preferences of both dominant powers and Southern countries. The first half of the chapter describes this argument in the case of the IMF. While the IMF's funding boost was dramatic, its significance was immediately called into question by the fact that its new money remained unused in 2008–9 partly because of Southern borrowers’ distrust of the institution. In the end, it was US authorities – not the Fund – that played the most important role in providing international liquidity during this period. Demand for the Fund's resources did, however, grow with the outbreak of the euro crisis, but as a way to supplement European regional arrangements. Lingering distrust of the Fund among Southern officials – reinforced by Northern resistance to governance reform – has encouraged them to strengthen and/or build alternative regional and plurilateral financing arrangements that also work either with or alongside the Fund. The second half of the chapter explores the FSB's creation. This development turned out to be less significant than it initially appeared because the institution was given very little formal power. This design feature reflected both Northern and Southern concerns about accepting international constraints on their regulatory policymaking. The crisis and post-crisis experience only reinforced their commitments to regulatory sovereignty by increasing the domestic political salience of regulatory issues and their fiscal implications, and by revealing the failures of international cooperation relating to the management of failing institutions.
The San Francisco Parking Authority was created in 1949. The Authority is responsible for providing off-street parking facilities in the city and county of San Francisco. This article discusses the powers given to the Parking Authority and relates the observation that many more parking facilities are needed in the city center. It notes that decentralization has effected the city of San Francisco's business sales and it discusses the decision to build more underground parking facilities. It describes the financing of this underground parking, mostly by private business, with little or no cost to the taxpayers. The article ends with a discussion of the attack plan.
E VERYONE knows that administration is the maintaining of an organization at an acceptable level of effectiveness. A single head, working co-operatively with the staff members, assigns duties, supervises the performance of them, and evaluates the outcome. In a community, however, and I shall speak of a university frequently as a community, there are a number of organizations performing often identical, sometimes dissimilar, and sometimes inappropriate services to students. That is, specialized functions or services have grown up in separate organizations. This leads to decentralization of administration, with various organizations functioning not as part of a team or as part of a concerted and comprehensive plan, but often independently and quite frequently competitively. Any situation involving decentralization of functions automatically necessitates the establishment of a corrective which we call co-ordination. Co-ordination is, therefore, an administrative means of avoiding friction, duplication, competition, and other undesirable practices among autonomous independent organizations which operate in the same general field of endeavor. It should be noticed that it is only when there is duplication or conflict in the same general field of endeavor that co-ordination is a necessity. Obviously there is no need for co-ordination when two independent, autonomous organizations operate in fields which are unrelated. Co-ordination is an effective means of developing co-operative relationships which bring about a dovetailing of partial and specialized services into a total program or pattern of services. It is also a means of bringing about a desirable degree of coherence within a decentralized system of organizations. Co-ordination is not a static form of administrative structure. It is rather a function and a dynamic process constantly changing because of at least four factors. First, the workers' personalities, interests, understandings, and motivations change from period to period. Second, there are shifts and changes in the community with respect to the demands made upon the organizations in a particular field of endeavor. Third, the needs of individual clients change as they themselves progress from one age period to another, from one economic status to another, from one physiological status to another, and from one psychological status to another. Fourth, in any field of social endeavor the products of research and systematized experiences constantly feed into the professional practices and services, thereby changing the conceptions of the basic nature of the
anew the old problem of administrative control-centralized, or Federal, versus decentralized, or local. In such cooperative programs as public housing, social security, and education, which are financed jointly by Federal and local governments, this problem calls for certain definite and workable adjustments in accordance with our republican form of government. These adjustments are of the utmost importance to Negro citizens because the majority of them still live in the South where they generally do not participate actively in state or local government and, consequently, are usually unable to make effective demand for their full share of the benefits of the program. In order to assure equitable participation in decentralized programs, Negroes have sought both legislative and administrative safeguards. The public resolution appropriating funds for the Work Projects Administration for the fiscal year ending June 30, 1940, forbids racial discrimination in employment. Efforts have been made to have similar clauses inserted in legislation appropriating Federal funds for education and health.1
Urban concentralization may signify either the settlement of a large percentage of a nation's population in metropolitan areas or the concentration of the dwellers of any city into a compact mass with high population density per acre. The term is used in this article in both senses. The urban functions that once contributed to urban centralization, namely, (1) centralized governmental power, (2) defense, (3) religion, (4) amusement, (5) trade, (6) industry, (7) transportation, (8) finance and banking, and (9) utilities, are now promoting urban decentralization in the form of the exodus of the residential population from central areas to the periphery of cities. A historical review of urban development shows that the original small nations in the Mediterranean basin were finally merged into the Roman Empire, with the apex of ancient urban civilization at Rome itself. The disintegration of the Roman Empire caused urban decentralization in the sense of the breaking-up of large cities. The small feudal states of the early Middle Ages could support only villages or small towns in Europe. The rise of modern urban communities began with the growth of commerce and the discoveries of the Portuguese and Spanish navigators. England became the first great commercial manufacturing nation and became highly urbanized by the middle of the nineteenth century. The United States and Germany made rapid progress in industrialization and urbanization from 1851 to 1891. The competition between rival industrial-urban nations was one of the chief causes of World War I. After 1920, Russia, Italy, and Japan endeavored to develop self-sufficing industrial-military systems, thereby increasing the population of their great cities but also heightening the tension leading to World War II. The prospects for continued urban centralization in all these powers are not favorable, for the victory of one group of nations will tend to inhibit the growth of urbanism in the defeated states.
Of primary importance to the investor in corporate shares is the dividend return. But many a purchaser of shares has other dominant interests. He may desire merely to qualify to be a director. He may be a pirate and contemplate a particular suit which he can institute only as a shareholder. He may hope to acquire the right of a shareholder to examine the stock ledger or other books or records of the corporation in order to broaden his activities as a broker or promoter. He may seek to gain control of the corporation in order to loot it, or to preclude it from competing with some other enterprise in which he is primarily interested. He may be a speculator buying shares to cover a previous short sale, or in anticipation of a rising market and a profitable resale. No one of these persons has the interest of an investor. The investor buys shares for the long pull, and while he will be gratified by an appreciation in market value, his major concern is with income, i. e. dividends. One investing in corporate shares, whether an individual or an institution, desires the corporation to make the maximum possible profits and to distribute such profits in the form of dividends as rapidly as may be consistent with the continuation of maximum profits in the future. But this may not be the goal of the corporation's management. In many modern corporations the ownership of the shares is so widely scattered that the management, i. e. executive officers and directors, through control of the proxy process for shareholders' meetings, is self-perpetuating.' Where such management control exists, the members of the management may own very few shares, as personal shareholdership is not the basis of their control. And where the officers and directors themselves own very few shares, their interest in the corporation may relate primarily to matters other than the distribution of profits. They may develop philanthropic interests such as raising living standards by increasing wages as rapidly as competitive conditions allow, or by progressively producing more and cheaper units to the benefit of the consuming public. Or they may be interested not in dis-
A study of extra-curricular financing in the larger secondary schools of South Dakota and southwestern Minnesota was undertaken with six objectives in view: (1) to find how funds are raised to finance the extra-curricular program, ( 2) to find how these funds are apportioned and who has charge of this apportionment, (3) to find whether a decentralized or centralized method of handling these funds is used, (4) to find, if finances are handled by a centralized plan, who the finance officer is, and what his duties are as finance officer, (5) to present a plan, for purpose of example, with which the writer has experience as finance officer of Brookings High School, (6) to conclude, with the general objective in view, that presenting this information and data which would be of value to anyone initiating a centralized finance plan for extracurricular activities and student organizations.