Cooperative Hopes To Make No More Dividend Rate Cuts

"I do not expect that we will have to cut the Coop dividend again next year, but the business future is so uncertain that we can only express hopes," George E. Cole, manager of the Harvard Cooperative Society, stated yesterday at the close of the annual meeting for participating members, held in Harvard 1.

Mr. Cole presented at the meeting a report for the fiscal year ending June 30, 1933, showing receipts of $947,000 and a net profit of $57,000 of which $56,000 was given over in dividends on October 13. "We feel pleased," he said, "that we could fulfill our pledge of 9 per cent on cash purchases and 7 on charged, although last year we were able to pay 10 and 8 respectively."

The receipts for this year are running almost the same as last fall and the Coop is as uncertain as other businesses whether the next tendency will be up or down.