INCORPORATION APPROVED.

The plan to incorporate the Co-operative Society, as proposed in the report submitted by Professor Ames and his committee, was carried yesterday by the vote of the members of the Society, the ballots standing 467 for, to 104 against. All of the five stockholders suggested by the committee were elected by a practically unanimous vote. The board thus constituted consists of the following members: Major Henry L. Higginson, Fellow of Harvard College; Professor Le Baron R. Briggs, Dean of the Faculty of Arts and Sciences; Professor Samuel Williston, of the Law Faculty; Professor Harold C. Ernst, of the Medical Faculty; Professor Wallace C. Sabine, of the Faculty of Arts and Sciences.

The formal steps for the incorporation of the Society will be taken at once. Mr. Bruce Wyman has been retained by the Board of Directors as counsel in making the transfer.

The five stockholders chosen yesterday will hold office as follows: one for five years, one for four years, one for three years, one for two years, and one for one year. The time of service will be determined by lot. One of the first steps to be taken by the board of stockholders after being legally constituted will be the nomination of a president, treasurer, clerk and secretary from the University at large and eight other directors to be selected as follows: one from the Faculty of Arts and Sciences, one from the Graduate School, one from the Law School, one from the Medical School, one from the University at large, and one each from the Senior, Junior, and Sophomore classes of the College or Scientific School. These nominations together with any others that may be made by members of the Society will be voted upon at the annual meeting to be held December 19.

The plan as passed last night was as follows:

Annual meetings of the participating members of the Society to be held, in 1902 on the third Friday of December, and in subsequent years on the third Wednesday of November.

The nominations by the stockholders for the offices of president, treasurer, clerk, secretary and the eight other directors are to be posted in the Society's store and published in the CRIMSON two weeks before the annual meeting of the participating members of the Society. Other nominations, if any, to be made by nomination papers signed by twenty-five members of the Society, and to be similarly posted and published one week before the annual meeting. If additional nominations are made in this manner, the president, treasurer, clerk, and eight directors to be selected by ballot at the annual meeting, provided that at least one hundred members are present and voting. The eleven persons so selected by ballot, or, if no additional nominations are made, or if fewer than one hundred members are present and voting at the annual meeting, the nominees of the stockholders, to be elected, the president by a vote of the board of directors, the ten other persons by a vote of the board of stockholders. After 1902, new stockholders to fill vacancies caused by lapse of time, death, or resignation, to be chosen in the same manner and at the same time as the treasurer, clerk, and directors.

The stockholders to determine what compensation, if any, shall be received by the president, treasurer, clerk, or any member of the board of directors; and also to entertain any complaint as to the administration by this board, if signed by at least ten members of the Society, and to make reply in writing to the complainants.

The powers and duties of the stockholders to be subject to change by the mutual consent of the stockholders and the participating members of the Society. The assent of the members to be manifested by a majority vote in favor of any proposed change, provided that the votes cast represent twenty-five per cent of the members of the Society, the vote to be by Australian ballot after at least two weeks' notice of the day and subject of the balloting, such notice, however, to be given only at the joint request of the stockholders and fifty members of the Society.

Any stockholder who wishes to resign his office to be at liberty to do so by transferring his certificate of stock to his fellow stockholders, who shall reassign it to his successor elected at the next annual meeting of the participating members of the Society.

The five stockholders to have the right to apply at any time to the Court for a dissolution of the corporation, and upon its legal dissolution, all the assets of the corporation to vest, subject to its liabilities, in the general body of participating members, as a voluntary association of the same nature and with the same constitution and by-laws as those of the present Society at the moment before incorporation.