CO-OPERATIVE REPORT.

The report of the Co-operative Society for the fiscal year ending July 31 shows the same consistent progress and expansion that have marked its growth since its humble beginning in a dormitory room thirty years ago. The business has become so large in recent years that now the society finds its present main store is inadequate and has formed tentative plans for a considerable enlargement of the premises during the next summer vacation. This great development of the business shows how well it has fulfilled its object. Formed as a Co-operative Society for the benefit of its members, it has extended its operations in numerous directions and has become the largest retail store in Cambridge. Because of its prosperous condition the society will again this year pay its members a dividend of nine per cent. In the eyes of the undergraduates the payment of this large dividend is one of the greatest benefits of the organization, for it comes at an opportune time and in adequate amount to defray the expenses incident to a large football game.

A very encouraging feature of the report is the growth of membership in the society from 2754 to 2844. This expansion is a good proof of the society's increasing service and of the growing attraction of its advantages.

That the society has been so successful is due in great part to very efficient management by its officers and directors. The latest and most improved methods have been introduced in order to reduce the cost of operating the business and so make it more serviceable to the members. In the sale of books particularly the management has reduced the cost materially and rendered great satisfaction.

This report not only points out the very pleasing progress of the past fiscal year, but predicts larger development and higher efficiency in the future. Humble in its beginnings, the Co-operative Society has shown remarkable growth and is now fulfilling adequately the aims of an undertaking of its nature--equal service and benefit for all.