REPORT OF CO-OPERATIVE

The annual report of the Co-operative Society, presented to the stockholders yesterday, shows that the business of the Society has undergone an encouraging increase in volume during the past year. The total sales for the fiscal year ending July 31, 1907, amounted to $281,943.56, an increase of $32,692.12, or about twelve per cent., over the business of the preceding year. The increase in sales, destributed by departments, were as follows:   1905-06.  1906-07. Men's Furnishings,  $54,911.96  $64,677.60 Books,  63,589.13  71,582.04 Stationery,  51,107.91  50,702.35 Tailoring,  38,596.17  43,554.72 Furniture,  23,055.45  29,218.22 Coal and Wood,  17,990.82  22,208.63   $249,261.44  $281,943.56

It will be seen that, with the exception of a slight falling-off in the stationery department, every branch of business shows a substantial increase. Of the total business, $166,625.15, or 59 per cent., represents the amount of sales made to members, and upon this amount the annual dividend will be paid. The remaining 41 per cent, represents non-dividend-bearing purchases made by the general public. The amount of dividend, as noted by the stockholders, is eight per cent., so that the total disbursement for dividends will amount to $13,330.01, the largest annual dividend payment in the history of the Society. Some of the dividend checks received by members will be of substantial amount, the largest payment to a single individual being $110.61. These checks will be distributed to members immediately after the November meeting.

The net profits of the year's business have been sufficient, after making due allowance for depreciation, and after defraying the cost of the extensive alterations made in the Society's store during the summer, to pay the eight per cent, dividend and leave substantial amount for addition to the Society's surplus.

Statements in detail of receipts and expenditures, together with a balance sheet and other tabular data are given in the report of which copies will shortly be ready for distribution.

That the business of the Co-operative has in recent years grown to large proportions, is evidenced by the statements that the Society now utilizes all four floors of its building with over 14,000 square feet of floor space; that throughout the academic year it maintains on its pay roll an average of over sixty employees, and that it disburses for wages, taxes, printing, expressage, water, light, heat, and supplies, an average of about $1,000 per week. In the delivery service four teams are kept constantly employed and during the busy seasons these facilities are increased. Owning the business block which it occupies, the Co-operative pays to the City of Cambridge taxes upon an assessment of $60,000, in addition to which it pays to Cambridge citizens, for services and supplies of all kinds a sum not far from $50,000 per year.

The membership of the Society last year numbered 2189, an increase of 27 over the year previous. This, however, is not more than half the number of those eligible to membership, namely all members of the University and of Radcliffe College.

The improvements to the store and the larger stocks which the various departments have thereby been enabled to carry, have evidently resulted in a considerable increase of business during the opening weeks of the College year, the sales to date being larger by about 15 per cent, than for the corresponding period of last year. The number of members is also larger by about 200 than at this time in 1906. The sole purpose of the Co-operative is to lessen the cost of living to members of the University, and the Society has endeavored, in every reasonable manner, to achieve this end.

Nomination of Officers for 1907-08.

The stockholders of the Co-operative Society, at their annual meeting yesterday, made the following nominations of officers of the Society for the year 1907-08:

Stockholder, to serve five years, Professor E. F. Gay; president, W. B. Munro '99; treasurer, W. M. McInnes '85; secretary, J. A. Field '03; directors: from the Faculty of Arts and Sciences, Professor C. L. Bouton '98; from the University at large, Dr. H. L. Blackwell '99; from the Medical School; Dr. W. B. Cannon '96; from the Graduate School, J. Ford 3G.; from the Law School, R. H. Oveson 3L.; from the Senior class, H. S. Blair '08; from the Junior class, S. Kelly '09; from the Sophomore class, W. P. Fuller '10.

Under the provisions of the by-laws, any opposing nominations must be signed by at least 25 members of the Society, and the nomination papers deposited with the secretary not later than November 20.

The annual meeting of the participating ticket-holders will be held in Lower Massachusetts on Wednesday, November 20, at 4.30 o'clock.

It will be seen that, with the exception of a slight falling-off in the stationery department, every branch of business shows a substantial increase. Of the total business, $166,625.15, or 59 per cent., represents the amount of sales made to members, and upon this amount the annual dividend will be paid. The remaining 41 per cent, represents non-dividend-bearing purchases made by the general public. The amount of dividend, as noted by the stockholders, is eight per cent., so that the total disbursement for dividends will amount to $13,330.01, the largest annual dividend payment in the history of the Society. Some of the dividend checks received by members will be of substantial amount, the largest payment to a single individual being $110.61. These checks will be distributed to members immediately after the November meeting.

The net profits of the year's business have been sufficient, after making due allowance for depreciation, and after defraying the cost of the extensive alterations made in the Society's store during the summer, to pay the eight per cent, dividend and leave substantial amount for addition to the Society's surplus.

Statements in detail of receipts and expenditures, together with a balance sheet and other tabular data are given in the report of which copies will shortly be ready for distribution.

That the business of the Co-operative has in recent years grown to large proportions, is evidenced by the statements that the Society now utilizes all four floors of its building with over 14,000 square feet of floor space; that throughout the academic year it maintains on its pay roll an average of over sixty employees, and that it disburses for wages, taxes, printing, expressage, water, light, heat, and supplies, an average of about $1,000 per week. In the delivery service four teams are kept constantly employed and during the busy seasons these facilities are increased. Owning the business block which it occupies, the Co-operative pays to the City of Cambridge taxes upon an assessment of $60,000, in addition to which it pays to Cambridge citizens, for services and supplies of all kinds a sum not far from $50,000 per year.

The membership of the Society last year numbered 2189, an increase of 27 over the year previous. This, however, is not more than half the number of those eligible to membership, namely all members of the University and of Radcliffe College.

The improvements to the store and the larger stocks which the various departments have thereby been enabled to carry, have evidently resulted in a considerable increase of business during the opening weeks of the College year, the sales to date being larger by about 15 per cent, than for the corresponding period of last year. The number of members is also larger by about 200 than at this time in 1906. The sole purpose of the Co-operative is to lessen the cost of living to members of the University, and the Society has endeavored, in every reasonable manner, to achieve this end.

Nomination of Officers for 1907-08.

The stockholders of the Co-operative Society, at their annual meeting yesterday, made the following nominations of officers of the Society for the year 1907-08:

Stockholder, to serve five years, Professor E. F. Gay; president, W. B. Munro '99; treasurer, W. M. McInnes '85; secretary, J. A. Field '03; directors: from the Faculty of Arts and Sciences, Professor C. L. Bouton '98; from the University at large, Dr. H. L. Blackwell '99; from the Medical School; Dr. W. B. Cannon '96; from the Graduate School, J. Ford 3G.; from the Law School, R. H. Oveson 3L.; from the Senior class, H. S. Blair '08; from the Junior class, S. Kelly '09; from the Sophomore class, W. P. Fuller '10.

Under the provisions of the by-laws, any opposing nominations must be signed by at least 25 members of the Society, and the nomination papers deposited with the secretary not later than November 20.

The annual meeting of the participating ticket-holders will be held in Lower Massachusetts on Wednesday, November 20, at 4.30 o'clock.