History
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Eadie and Payne was founded in 1919 by Charles P. Fuller under the original tradename of Charles P. Fuller and
Company. Mr. Fuller was 34 when he moved from Upland to San Bernardino to engage in public accounting and
auditing. He had lived in Upland all of his adult life and, as a result, was well known in the area. His knowledge of
mutual water companies and citrus packing houses was a major asset and resulted in acquiring many of these
organizations as clients in the early years.
Company. Mr. Fuller was 34 when he moved from Upland to San Bernardino to engage in public accounting and
auditing. He had lived in Upland all of his adult life and, as a result, was well known in the area. His knowledge of
mutual water companies and citrus packing houses was a major asset and resulted in acquiring many of these
organizations as clients in the early years.
William H. Eadie worked for Mr. Fuller on a part-time basis for several years during
the time he was a student at the University of California. Upon graduation in 1921,
he became a full-time employee. Mr. Eadie passed the CPA examination in November
1924, holding California Certificate Number 410. On January 1, 1925, Mr. Eadie was
admitted as a partner and the Firm was changed to Fuller, Eadie and Company.
During the 1920's the accounting practice continued to grow in all areas, especially
in cooperative citrus packing associations. In the mid-nineteen twenties and for
several years thereafter, there was a great deal of accounting work in connection
with the conversion of "mutual" building and loan associations to "guarantee capital
stock" associations (California corporations similar to present day California
chartered savings and loan associations). It was in 1928 that the Firm made the
largest audit it has ever made (in hours required for the audit as well as in size -
100 pages of comments and 60 different exhibits and schedules). This was the audit
of the Fidelity Savings and Loan Association of Los Angeles, made for a group of
investors who were considering purchase of the Association. The audit took twelve
accountants six weeks, working thirteen hours a day, six days a week, a total of
over 5,000 hours. The fee for the audit was $18,000.
the time he was a student at the University of California. Upon graduation in 1921,
he became a full-time employee. Mr. Eadie passed the CPA examination in November
1924, holding California Certificate Number 410. On January 1, 1925, Mr. Eadie was
admitted as a partner and the Firm was changed to Fuller, Eadie and Company.
During the 1920's the accounting practice continued to grow in all areas, especially
in cooperative citrus packing associations. In the mid-nineteen twenties and for
several years thereafter, there was a great deal of accounting work in connection
with the conversion of "mutual" building and loan associations to "guarantee capital
stock" associations (California corporations similar to present day California
chartered savings and loan associations). It was in 1928 that the Firm made the
largest audit it has ever made (in hours required for the audit as well as in size -
100 pages of comments and 60 different exhibits and schedules). This was the audit
of the Fidelity Savings and Loan Association of Los Angeles, made for a group of
investors who were considering purchase of the Association. The audit took twelve
accountants six weeks, working thirteen hours a day, six days a week, a total of
over 5,000 hours. The fee for the audit was $18,000.
Until about 1937 staff accountants were paid on an hourly basis for actual hours
worked ($1.00 per hour), and there was no assurance of full-time employment. For
special audits, such as Fidelity, temporary help was available. Beginning about 1937,
several full-time staff accountants were hired, but temporary help was used to a
large extent until about 1945.
In September 1928, Judd K. Payne became associated with the Firm. Prior to this
association, Mr. Payne had taught accounting for two years at Oregon State and
had worked six weeks for a public accounting firm in Los Angeles. For a number of
months in 1929, Mr. Payne worked for a commercial orange packing house in the
Highland area, principally on system work and on escrows in connection with the
purchase and sale of citrus groves. He continued to work for Fuller, Eadie and
Company evenings and weekends. Mr. Payne became a partner in the Firm on
January 1, 1931. He passed the CPA exam in November 1931.
On January 1, 1939, the Firm name was changed to Fuller, Eadie and Payne. In
1953, Charles P. Fuller retired as an active partner. On May 1, 1953, the Firm name
was changed to Eadie and Payne with William H. Eadie and Judd K. Payne as
partners.
worked ($1.00 per hour), and there was no assurance of full-time employment. For
special audits, such as Fidelity, temporary help was available. Beginning about 1937,
several full-time staff accountants were hired, but temporary help was used to a
large extent until about 1945.
In September 1928, Judd K. Payne became associated with the Firm. Prior to this
association, Mr. Payne had taught accounting for two years at Oregon State and
had worked six weeks for a public accounting firm in Los Angeles. For a number of
months in 1929, Mr. Payne worked for a commercial orange packing house in the
Highland area, principally on system work and on escrows in connection with the
purchase and sale of citrus groves. He continued to work for Fuller, Eadie and
Company evenings and weekends. Mr. Payne became a partner in the Firm on
January 1, 1931. He passed the CPA exam in November 1931.
On January 1, 1939, the Firm name was changed to Fuller, Eadie and Payne. In
1953, Charles P. Fuller retired as an active partner. On May 1, 1953, the Firm name
was changed to Eadie and Payne with William H. Eadie and Judd K. Payne as
partners.
During the "depression" years, extending from 1930 to 1938, the Firm had what
proved to be a "depression-proof" business. A considerable amount of new business
was generated by the conversion of building and loan associations to federal
savings and loan associations, by additional savings and loan audits, and by a
substantial increase in audits of agricultural cooperatives the San Joaquin and
Imperial Valley's of California, Arizona, and elsewhere. During the war years, from
1941 through 1945, there was a further increase in our clientele, but it was largely
restricted to what was considered to be "annual recurring" business, such as
cooperatives. The Arizona audits were given up because of the shortage of gasoline
and lack of available rail transportation.
For many years it was customary to work six days a week, usually eight hours a day
when in town, but from ten to twelve hours a day on out-of-town audits. After the
war ended in 1945, the work schedule was eventually reduced to five and one-half
days a week. However, it was still customary to work longer hours on out-of-town
audits. Our standard work week is five days with minor exceptions at various times
during the year.
The form and content of audit reports have seen a number of changes over the
years. Up until the mid-thirties our reports were more comparable to what is known
as the "short-form" report. Beginning in the mid-thirties, our audit reports were
expanded to the "long-form" report.
proved to be a "depression-proof" business. A considerable amount of new business
was generated by the conversion of building and loan associations to federal
savings and loan associations, by additional savings and loan audits, and by a
substantial increase in audits of agricultural cooperatives the San Joaquin and
Imperial Valley's of California, Arizona, and elsewhere. During the war years, from
1941 through 1945, there was a further increase in our clientele, but it was largely
restricted to what was considered to be "annual recurring" business, such as
cooperatives. The Arizona audits were given up because of the shortage of gasoline
and lack of available rail transportation.
For many years it was customary to work six days a week, usually eight hours a day
when in town, but from ten to twelve hours a day on out-of-town audits. After the
war ended in 1945, the work schedule was eventually reduced to five and one-half
days a week. However, it was still customary to work longer hours on out-of-town
audits. Our standard work week is five days with minor exceptions at various times
during the year.
The form and content of audit reports have seen a number of changes over the
years. Up until the mid-thirties our reports were more comparable to what is known
as the "short-form" report. Beginning in the mid-thirties, our audit reports were
expanded to the "long-form" report.
For many years the standard billing rate was $25 per day (eight hours). Substantial
inflation in the 1940's, especially after 1945, resulted in a corresponding increase in
billing rates. During the 1950's the rate of inflation slowed down as did the increase
in billing rates and salaries. As late as 1957 the starting salary was $400 per month.
The Firm did not own cars until 1942, when two cars were purchased for use by staff
accountants. Prior to that time the partners' cars provided most of the
transportation, with staff accountants using their cars occasionally. After 1945
partners' cars were owned by the Firm and the number of staff cars was gradually
increased as needed.
In the period from 1945 to 1961, there was a gradual but substantial increase in the
volume of business. The increase was in all areas, but especially in taxes due to the
substantial increase in personal and corporate income taxes during and following
the war years. Tax problems of cooperatives were of minor importance until the
Revenue Act of 1951. From that date to the present, the tax problems of
cooperatives have substantially increased, thus increasing the demand for our
services in that area. Growth since 1961 has been at an accelerated pace, especially
since 1968.
inflation in the 1940's, especially after 1945, resulted in a corresponding increase in
billing rates. During the 1950's the rate of inflation slowed down as did the increase
in billing rates and salaries. As late as 1957 the starting salary was $400 per month.
The Firm did not own cars until 1942, when two cars were purchased for use by staff
accountants. Prior to that time the partners' cars provided most of the
transportation, with staff accountants using their cars occasionally. After 1945
partners' cars were owned by the Firm and the number of staff cars was gradually
increased as needed.
In the period from 1945 to 1961, there was a gradual but substantial increase in the
volume of business. The increase was in all areas, but especially in taxes due to the
substantial increase in personal and corporate income taxes during and following
the war years. Tax problems of cooperatives were of minor importance until the
Revenue Act of 1951. From that date to the present, the tax problems of
cooperatives have substantially increased, thus increasing the demand for our
services in that area. Growth since 1961 has been at an accelerated pace, especially
since 1968.
The Firm's office, which had been located on the second floor of the Security Bank
Building on the corner of Third and "E" Streets in San Bernardino, was moved to 595
Arrowhead Avenue in December 1960. On August 1, 1969, the Firm of Thomas Moss
and Company of San Bernardino merged with Eadie and Payne. Mr. Moss became a
partner of the merged Firms on that date until his retirement from Eadie and Payne
January 31, 1975. Within ten years our Firm had grown to such an extent that the
Arrowhead Avenue office was too small for the Firm's needs. Several years were
spent looking for and planning a new office. In January of 1973, the Firm relocated
to 330 North D Street, San Bernardino. As the result of the merger of the accounting
practice of Victor R. Mott December 1, 1974, Eadie and Payne opened its second
office in Ontario. Mr. Mott was a partner in the Firm until his retirement in 1977. In
1975, Eadie and Payne acquired the practice of Robert Blumenthal in Redlands which
expanded the number of offices to three. July 1, 1986, Marvin Dudley merged his
CPA practice with Eadie and Payne and Mr. Dudley was a partner of the Firm until his
retirement January 31, 1989. In June 2001, the Firm combined the San Bernardino
and Redlands offices and relocated to 300 E State Street, Redlands. The Firm now
has two offices: Redlands and Ontario.
Building on the corner of Third and "E" Streets in San Bernardino, was moved to 595
Arrowhead Avenue in December 1960. On August 1, 1969, the Firm of Thomas Moss
and Company of San Bernardino merged with Eadie and Payne. Mr. Moss became a
partner of the merged Firms on that date until his retirement from Eadie and Payne
January 31, 1975. Within ten years our Firm had grown to such an extent that the
Arrowhead Avenue office was too small for the Firm's needs. Several years were
spent looking for and planning a new office. In January of 1973, the Firm relocated
to 330 North D Street, San Bernardino. As the result of the merger of the accounting
practice of Victor R. Mott December 1, 1974, Eadie and Payne opened its second
office in Ontario. Mr. Mott was a partner in the Firm until his retirement in 1977. In
1975, Eadie and Payne acquired the practice of Robert Blumenthal in Redlands which
expanded the number of offices to three. July 1, 1986, Marvin Dudley merged his
CPA practice with Eadie and Payne and Mr. Dudley was a partner of the Firm until his
retirement January 31, 1989. In June 2001, the Firm combined the San Bernardino
and Redlands offices and relocated to 300 E State Street, Redlands. The Firm now
has two offices: Redlands and Ontario.
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