GAIN IN SALES SHOWN BY ANNUAL REPORT OF COOPERATIVE SOCIETY

The annual report of the Cooperative Society, which has been submitted to the stockholders, shows a gain in sales for the fiscal year which ended on June 30th, 1921. A summary of the main items in the annual report (omitting fractions of dollars) is as follows: Volume of Business   1920  1921 Harvard Store,  $675,000  $689,980 Technology Branch,  191,053  206,342 Barber Shop,  8,057  10,747 Totals,  $874,110  $907,069 Net gain in business for the year is $32,959.

Large Gain in Gross Profits

The comparison of gross profits for the past year with the preceding year shows a gain of nearly $10,000. Harvard Store   1920  1921 Profit on Sales,  $126,515  $127,625 Other Income,  16,409  13,145 Technology Branch Profit on Sales,  45,117  53,396 Other Income,  2,797  3,160 Barber Shop Earnings,  8,057  10,747 Totals,  $198,895  $208,073

Increase in Expenses Shown

The expenses of conducting the business as compared with those of the preceding year show a substantial increase, due in part to the higher wages paid to employees during the latter part of 1920 and in part to expenditures on the Society's property. Harvard Store   1920  1921 General Expenses,  $86,658  $94,556 Special Expenses,  2,786  2,931 Technology Branch General Expenses,  20,538  26,688 Special Expenses,  2,131  1,853 Barber Shop,  7,820  9,909 Totals,  $119,933  $135,937

After making the usual allowances for all overdue or doubtful accounts, for depreciation of buildings and merchandise, as well as an addition to the Society's re-building fund, the sum of $42,023 remains available for distribution to the members in dividends, as compared with $40,135 a year ago. The directors have voted, therefore, to pay the regular dividend of 8 per cent on all credit purchases and 10 per cent on all cash-purchases. Dividend checks are now ready.

7374 Members Enrolled

The total membership of the Society at the close of the fiscal year was 7374, of whom 4224 were members of Harvard University or Radcliffe College, and 3150 were members of the Institute of Technology. The membership on June 30, 1920, was 6375.

Make Additions to Property

During the year the Cooperative Society purchased the brick building on Palmer street in rear of the Harvard square store and has refitted this building for use as a storehouse. It is expected that a modern building to replace the present-store, will be erected during the summer of 1922 if conditions in the building trade become stabilized by that time. Plans for this new building have been in readiness for two years and have been awaiting the time when costs of construction would come within range.

Officers for 1921 Nominated

The stockholders have nominated the following officers and directors in accordance with the bylaws:

Stockholders (to serve five years), Dean W. B. Donham '98 and Professor Chester A. McLain '13 of the Law School; President, Professor W. B. Munro '99; Vice-President, Henry S. Thompson '99; Treasurer, John L. Taylor, Assistant Comptroller; Secretary, Walter Humphreys, Registrar of the Institute of Technology; Directors, Messrs. Austin W. Scott '09; D. K. David, Assistant Dean of the Business School; H. L. Blackwell '99; E. R. Gay '19; Horace Ford, M. I. T.; Jasper Whiting, M. I. T.; W. G. Brocker '22; B. K. Little '23; R. P. Bullard '24, and Henry J. Horne Jr., M. I. T. Mr. G. E. Cole '04, manager of the Society, is a director ex-officio.

Fordham was high point scorer Saturday, winning 101-0.

Large Gain in Gross Profits

The comparison of gross profits for the past year with the preceding year shows a gain of nearly $10,000. Harvard Store   1920  1921 Profit on Sales,  $126,515  $127,625 Other Income,  16,409  13,145 Technology Branch Profit on Sales,  45,117  53,396 Other Income,  2,797  3,160 Barber Shop Earnings,  8,057  10,747 Totals,  $198,895  $208,073

Increase in Expenses Shown

The expenses of conducting the business as compared with those of the preceding year show a substantial increase, due in part to the higher wages paid to employees during the latter part of 1920 and in part to expenditures on the Society's property. Harvard Store   1920  1921 General Expenses,  $86,658  $94,556 Special Expenses,  2,786  2,931 Technology Branch General Expenses,  20,538  26,688 Special Expenses,  2,131  1,853 Barber Shop,  7,820  9,909 Totals,  $119,933  $135,937

After making the usual allowances for all overdue or doubtful accounts, for depreciation of buildings and merchandise, as well as an addition to the Society's re-building fund, the sum of $42,023 remains available for distribution to the members in dividends, as compared with $40,135 a year ago. The directors have voted, therefore, to pay the regular dividend of 8 per cent on all credit purchases and 10 per cent on all cash-purchases. Dividend checks are now ready.

7374 Members Enrolled

The total membership of the Society at the close of the fiscal year was 7374, of whom 4224 were members of Harvard University or Radcliffe College, and 3150 were members of the Institute of Technology. The membership on June 30, 1920, was 6375.

Make Additions to Property

During the year the Cooperative Society purchased the brick building on Palmer street in rear of the Harvard square store and has refitted this building for use as a storehouse. It is expected that a modern building to replace the present-store, will be erected during the summer of 1922 if conditions in the building trade become stabilized by that time. Plans for this new building have been in readiness for two years and have been awaiting the time when costs of construction would come within range.

Officers for 1921 Nominated

The stockholders have nominated the following officers and directors in accordance with the bylaws:

Stockholders (to serve five years), Dean W. B. Donham '98 and Professor Chester A. McLain '13 of the Law School; President, Professor W. B. Munro '99; Vice-President, Henry S. Thompson '99; Treasurer, John L. Taylor, Assistant Comptroller; Secretary, Walter Humphreys, Registrar of the Institute of Technology; Directors, Messrs. Austin W. Scott '09; D. K. David, Assistant Dean of the Business School; H. L. Blackwell '99; E. R. Gay '19; Horace Ford, M. I. T.; Jasper Whiting, M. I. T.; W. G. Brocker '22; B. K. Little '23; R. P. Bullard '24, and Henry J. Horne Jr., M. I. T. Mr. G. E. Cole '04, manager of the Society, is a director ex-officio.

Fordham was high point scorer Saturday, winning 101-0.

Increase in Expenses Shown

The expenses of conducting the business as compared with those of the preceding year show a substantial increase, due in part to the higher wages paid to employees during the latter part of 1920 and in part to expenditures on the Society's property. Harvard Store   1920  1921 General Expenses,  $86,658  $94,556 Special Expenses,  2,786  2,931 Technology Branch General Expenses,  20,538  26,688 Special Expenses,  2,131  1,853 Barber Shop,  7,820  9,909 Totals,  $119,933  $135,937

After making the usual allowances for all overdue or doubtful accounts, for depreciation of buildings and merchandise, as well as an addition to the Society's re-building fund, the sum of $42,023 remains available for distribution to the members in dividends, as compared with $40,135 a year ago. The directors have voted, therefore, to pay the regular dividend of 8 per cent on all credit purchases and 10 per cent on all cash-purchases. Dividend checks are now ready.

7374 Members Enrolled

The total membership of the Society at the close of the fiscal year was 7374, of whom 4224 were members of Harvard University or Radcliffe College, and 3150 were members of the Institute of Technology. The membership on June 30, 1920, was 6375.

Make Additions to Property

During the year the Cooperative Society purchased the brick building on Palmer street in rear of the Harvard square store and has refitted this building for use as a storehouse. It is expected that a modern building to replace the present-store, will be erected during the summer of 1922 if conditions in the building trade become stabilized by that time. Plans for this new building have been in readiness for two years and have been awaiting the time when costs of construction would come within range.

Officers for 1921 Nominated

The stockholders have nominated the following officers and directors in accordance with the bylaws:

Stockholders (to serve five years), Dean W. B. Donham '98 and Professor Chester A. McLain '13 of the Law School; President, Professor W. B. Munro '99; Vice-President, Henry S. Thompson '99; Treasurer, John L. Taylor, Assistant Comptroller; Secretary, Walter Humphreys, Registrar of the Institute of Technology; Directors, Messrs. Austin W. Scott '09; D. K. David, Assistant Dean of the Business School; H. L. Blackwell '99; E. R. Gay '19; Horace Ford, M. I. T.; Jasper Whiting, M. I. T.; W. G. Brocker '22; B. K. Little '23; R. P. Bullard '24, and Henry J. Horne Jr., M. I. T. Mr. G. E. Cole '04, manager of the Society, is a director ex-officio.

Fordham was high point scorer Saturday, winning 101-0.

After making the usual allowances for all overdue or doubtful accounts, for depreciation of buildings and merchandise, as well as an addition to the Society's re-building fund, the sum of $42,023 remains available for distribution to the members in dividends, as compared with $40,135 a year ago. The directors have voted, therefore, to pay the regular dividend of 8 per cent on all credit purchases and 10 per cent on all cash-purchases. Dividend checks are now ready.

7374 Members Enrolled

The total membership of the Society at the close of the fiscal year was 7374, of whom 4224 were members of Harvard University or Radcliffe College, and 3150 were members of the Institute of Technology. The membership on June 30, 1920, was 6375.

Make Additions to Property

During the year the Cooperative Society purchased the brick building on Palmer street in rear of the Harvard square store and has refitted this building for use as a storehouse. It is expected that a modern building to replace the present-store, will be erected during the summer of 1922 if conditions in the building trade become stabilized by that time. Plans for this new building have been in readiness for two years and have been awaiting the time when costs of construction would come within range.

Officers for 1921 Nominated

The stockholders have nominated the following officers and directors in accordance with the bylaws:

Stockholders (to serve five years), Dean W. B. Donham '98 and Professor Chester A. McLain '13 of the Law School; President, Professor W. B. Munro '99; Vice-President, Henry S. Thompson '99; Treasurer, John L. Taylor, Assistant Comptroller; Secretary, Walter Humphreys, Registrar of the Institute of Technology; Directors, Messrs. Austin W. Scott '09; D. K. David, Assistant Dean of the Business School; H. L. Blackwell '99; E. R. Gay '19; Horace Ford, M. I. T.; Jasper Whiting, M. I. T.; W. G. Brocker '22; B. K. Little '23; R. P. Bullard '24, and Henry J. Horne Jr., M. I. T. Mr. G. E. Cole '04, manager of the Society, is a director ex-officio.

Fordham was high point scorer Saturday, winning 101-0.