HARVARD CO-OPERATIVE SOCIETY.

At the last meeting of the board of directors of the Co-operative Society, three important measures wero decided on, which it is the desire of the board to present to the college, with some of the reasons that led to their adoption. The first two involve a change in the constitution, and the action of the directors will have to be approved at the annual meeting in February. The third is a measure of expediency.

It was resolved, "That in future the fiscal year of the Co-operative Society begin one week before the academic year." Heretofore the fiscal year has begun in February. This has brought about complications in the matter of fees, made it uncertain at the beginning of the fiscal year what would be the probable membership, and closed the business of the society, not in July, when business actually ceased, but in the middle of the college year. If the fiscal year begins with the academic year, these difficulties may be removed. There are at present two fees; by the proposed change there would be but one fee for all persons. Again, if the fiscal year begins in October, the membership will be not only more certain and calculable, but probably larger. The inducement to join the society is strongest at the beginning of the academic year, since a large number of purchases are made at that time. In February, under the existing system, men are apt not to join, because there is no immediate prospect of decided benefit from their membership. This probably accounts for the fact that between February and July of the present year only 390 members joined the society. In October of the present year, about two hundred persons paid a full year's fee in order to become members of the society, although the payment of that fee entitled them to the privileges of membership for only half a year, till next February. It is believed that if the fiscal year begins at what is clearly the natural time for joining the society, the membership will increase. Finally, the superintendent will have ample time in July to close up the business of the society, to prepare a comp ete and accurate statement, and to make his arrangements for the business of the succeeding year.

The second measure adopted followed from the first. It was resolved : "That a fee of one dollar be paid by all persons joining the society for the period from February of this year till the beginning of the new fiscal year." The gap between the end of the old fiscal year, and the beginning of the new one, will in this way be bridged over.

The third resolution was : "That from the first of December, 1883, till the end of the fiscal year, new members be admitted on paying a fee of one dollar." This enables persons to join the society from the first of December till the beginning of the new fiscal year on the payment of two dollars,-one dollar in December and one dollar in February. The directors were further induced to take this step by the necessity of increasing the receipts of the society during the next few months. The expenses of the society during the past two months have been unusually large in consequence of moving to the new quarters and fitting them up, and in consequence of the necessary employment of an additional clerk in the office. On the first of November the society had to its credit four hundred dollars. The estimated expenses between that date and the close of the fiscal year are nine hundred dollars. The society must therefore earn five hundred dollars in this period. Every effort will be made by the superintendent and the directors for the accomplishment of this object, and it is hoped every effort will be made by the members. As one means of increasing the revenue of the society, the above resolution was passed. It is the belief of the superintendent and directors that under it a considerable increase in the membership may be made to take place.

The business of the society at the office is in a flourishing condition. A considerable increase in the business is, however, possible. That members may be better informed what advantages the society offers, the superintendent is about to publish a bulletin, which will describe new business features adopted by him of interest to members. Other bulletins of the same character will follow from time to time. Respectfully submitted,

ALLEN CURTIS, Sec'y. of the Board of Directors.