Meeting of the Co-operative Society.

The special meeting of the Harvard Co-operative society called by the directors, came to order last night at 7.30, Professor Ames of the Law school in the chair. Professor Ames stated that the object of the meeting was to settle the question of dividends. Last year, $1493, amounting to two thirds of the net profit, was distributed among 771 members; this summer the dividends were computed on the same two thirds basis, and the books showed that $2150 was to be divided among 621 members. This fall it was found that the stock had increased, and that although the full dividends could be paid, it would be safer to cut it down. A motion hereupon was made to declare a dividend amounting to 80 per cent. of the amounts already computed, and was passed without any opposition. The business of the society, Professor Ames declared to be in a very satisfactory condition. Last year the business transacted amounted to over $65,000, and as matters now look this year will be equally successful. The surplus of assets over liabilities amounts at present to a good deal over $4000.

In regard to the recent charges of mismanagement, Professor Ames stated that the directors recognized a good deal of truth in them. The matter is, however, only temporary; the superintendent will in future devote more time to the society's business; the contract with him is extremely vague as regards the time to be spent for the society, and recognizes the fact that Mr. Waterman is not expected to spend even one half of his time for the Co-operative's interests. The remuneration is nothing unless the business is successful. The charge that Mr. Waterman has taken away from the Co-operative a number of salesmen has to foundation, as well as the charge of having diverted trade. Moreover it was absolutely necessary to have a middleman as a number of large dealers in Boston refused to deal with the society on other terms than those of ordinary purchasers; these firms claim that the society is an association of buyers and will not therefore give it the trade discount.

A number of questions were asked on the general policy and scope of the society, and numerous suggestions of improvement were made. Before adjourning, Bunker, L. S., Duncan, '90, H. A. Davis, '91, H. M. Landon, '92, and R. B. Hale, '91, were appointed a committee to present a the annual meeting next February nominations to fill vacancies.