COST ACCOUNTING AND ESTIMATING. 255 



possible. We do not figure on nickel piping where we think the owner will stand for the 

 galvanized piping, but we have to contend with the specific requirements of the owner, and 

 we know that in certain cases some owners will require a higher grade of finish than others. 

 I desire to disabuse the minds of tlie members that the architect of his own accord puts in a 

 higher grade article than he thinl-cs the owner is willing to pay for. 



The President : — Mr. Schulze's comments are very pertinent. As to the coefficients, I 

 imagined he would not be in a position to give you much help in that direction, because the 

 method of keeping costs in nearly all the yards is quite different. 



I take this opportunity, on behalf of the Society, to thank Mr. Schulze for his very com- 

 plete and interesting paper. 



Paper No. 12, entitled "Calculation of the Transverse Strength of Submarines by 

 Marbec's Method," by Professor William Hovgaard, member of the Society, is next on the 

 program. In the absence of Professor Hovgaard, the paper will be presented, in abstract, 

 by Professor Sadler. 



Professor Sadler presented the paper in abstract and at its conclusion said : 

 "A paper like this will cause very little discussion as it is beyond some of us, but I 

 would like to point out the fact that a fundamental investigation of this kind cannot be other 

 than of great benefit in advancing our knowledge of the stresses that will possibly occur in 

 structures of this character, and in the end a purely practical man will benefit by this rather 

 fundamental investigation." 



