Coop Will Refund Record $312,000

Eager undergraduates flooded the Coop yesterday and picked up more than $40,000 in refund checks as General Manager G. E. Cole prepared for further inroads amounting to a grand total of $312,000.

Up to five people were handing out the checks to a line of students stretching out to the door. Cole said the rush would probably last until Saturday and then ease off, with mailing of the remaining checks beginning November 1 and extending into January.

This year's patronage refund is the highest in the history of the Coop, well up from last year's $378,000, Cole reported. Over 25,000 members, also a new high, will collect an average of $12 apiece. One man is going to collect $240.

Cole started his staff preparing the checks on July 6 and a sizable proportion of his accounting staff has been at work on them over since.

Contrary to widespread student rumors, last spring's Coop robbery has had no effect on the refunds. The money was completely covered by insurance.