Communication.

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To the Editors of the Crimson:

Will you please allow me a short space in which to point out certain objections to the plan proposed by Mr. Ireland in the CRIMSON of November 11, which cannot but occur to me as a lawyer in practice? I believe with Mr. Ireland that the Society has reached a point in its successful growth where incorporation has become a highly important factor in its beneficial service. I differ from him as to the form the organization of the corporation shall take; for I am convinced that the plan voted by the meeting of November 7 is both legal in its organization and practical in its administration; while I believe that the plan that he proposes is neither proper in law nor workable in operation.

In order to put the corporation in a safe position to begin business, it is necessary that its capital stock should be $40,000, the present net assets. Under our statutes it is not possible to make the shares less than $25, par; therefore, not more than 1600 shares can be provided for; and as the present membership is about 2600, that would leave about 1000 without any participation in the business whatever, -- no democracy in that result, it would seem. Under the plan adopted by the meeting of November 7, a provision is made for every present ticketholder and all future ticketholders.

Another difficulty in the plan of Mr. Ireland is this: It is extremely doubtful whether a by-law would be approved in Massachusetts that provided that less than a majority of all the shareholders of the corporation could transact any business whatever or elect any officers. If that be the law, it would be necessary to get a vote of over 800 upon even routine business or re-elections--an impossibility, it is believed. Under the plan adopted by the meeting of November 7, provision is made that if at a meeting of 100 members properly convened any action or any election is desired, the shareholders are in honor bound to follow that action.

The scheme of Mr. Ireland presents other impracticable features. Even if some of the items proposed should be possible at law the bookkeeping expense connected with these complications seems hardly worth while. The making of these 1600 shareholders trustees for purchasers raises the forbidding prospect of complication upon complication. The 1000 student buyers left out of this plan must, after all rely upon the honor of the 1600 to do the proper thing by them; so that the legal situation in the scheme of Mr. Ireland is on last analysis no better than in the plan voted. Under the plan voted by the meeting of November 7 there is no confusion; there is the old body, the society; there is the new body, the corporation; the position of each is defined. It would seem therefore that the plan of incorporation voted by the meeting of November 7 should have at the Australian ballot the vote of every member who desires incorporation. BRUCE WYMAN.