Co-operative Voting Today.

To the Editors of the Crimson:

The reasons why it is believed that the Directors' plan for the reorganization of the Co-operative Society is the best attainable are as follows;

Incorporation is the one standard method under the law for limiting the liability of a business concern to the amount of the capital already invested--a limitation which in the interest of every member as well as of every Director ought to be secured in the case of the Co-operative Society.

To incorporate a business concern there must be stockholders. The stockholders, in our case, must be excluded from personal profit from their stock, and they are inevitably left exposed to the injury to reputation and standing, which would certainly result if the business should suffer while in their custody.

With nothing whatever to gain and with much that is most precious to lose, the least that can be done to make the office acceptable to men of standing--and certainly none others are desired--is to give the stockholders sole and undisputed authority in the choice of their Directors.

The stockholders must be drawn from some quarter where men of integrity are to be found of continuous residence in or near Cambridge, of sufficient devotion to the interests of the student body to make them undertake what must be at best an unalluring task, and who are, at the same time, constantly in touch with student life and sentiment so as to be conscious of student needs and amenable to student public sentiment. Obviously, no body of men meets all these requirements better than the combined Faculties of the University--the older and tried portion of the teachers devoting their whole lives to the service of the students. Obviously, too, they must not be exposed to risk of personal loss as a result of their disinterested service to their colleagues and the student body, and hence they must be in the position of stockholders of a corporation and not mere managers of a partnership.

The sole active function of these stockholders being to choose the Board of Directors, integrity and fidelity on the part of the stockholders--already vouched for by their long continuance in appointments at the hands of the President and Fellows--are the main requisites. With abundance of friendly advisers always at hand in the persons of representative graduates and undergraduates to whom the stockholders would no doubt freely resort for confirming the wisdom of their own selections, wise selection of Directors would be assured. Should the management at any time become unsatisfactory to the ticket-holders, the interests of the stockholders as honorable, public-spirited men in a position of trust would lead them to bend every energy to rectifying ing the difficulty. At the same time they and their Directors could discriminate between a mere meddling minority and really wise, disinterested criticism, and that is what an annual meeting now cannot do. The annual meeting is at the mercy of the former as well as at the service of the latter.

In a word incorporation is an urgent necessity as a matter of common business prudence.

Incorporation requires turning the assets permanently over to some person or persons practically in a position of trustees.

No more suitable body of men from which to select such persons has been or, in our opinion, can be suggested than the Faculties of the University.

The men proposed as the first set of stockholders, approved themselves to the Board as an obvious choice as men well distributed among the Faculties and specially familiar with the affairs of the Society and all of them having already had the endorsement of the members for places high in the management of the Society.

The plan is put forth after many months of careful study and under the best of advice, in full confidence that it is the best plan practicable for securing the stability, security and guarantee of permanent and increasing usefulness which all desire for the Co-operative Society.  L. J. JOHNSON, President.  J. H. GARDINER, Secretary.  F. B. MALLORY.  H. R. MEYER.  J. I. WESTENGARD.  S. CUNNINGHAM, JR.  B. WENDELL, JR.  ROGER ERNST.  A. A. BALLANTINE.