ALTHOUGH the fiscal year of the Co-operative Society is not yet completed, and the financial reports are not in, it is not too early for a hasty resume of the Society's work, and a consideration of its prospects. To all appearance the Society has been very successful. It has a much larger membership than the most sanguine of its founders had dared to hope for; it has done a large business, and has put thousands of dollars into the pockets of the members in the shape of discounts; it has made very favorable terms with dealers, in some cases more favorable than its rivals, the tradesmen of Cambridge, can obtain; and, finally, it has compelled these very tradesmen to reduce their rates, thus extending the benefits of the Society outside of its membership. All this is a very considerable achievement for an organization planned, founded, and managed by college students, and in view of these facts the Society may be pronounced a decided success. Unfortunately, there is a certain lack of smoothness in one or two particulars which may bring to pass a dangerous discontent, and swamp the Society. The chief trouble is that ordered goods are delayed. This is, perhaps, in most cases unavoidable; but the great number of complaints on this subject seems to indicate an inability on the part of the Society to do its work with perfect accuracy. If men were provident enough to give their orders in plenty of time this delay would be of little account; but as, we regret to say, they are not, some means of making the Society more reliable should be devised. More care on the part of the Society, and more forethought on the part of the members, will obviate the trouble. The contracts with the affiliated tradesmen should also be put on a better footing. Perhaps this will be the natural result of a year's experience, for both parties will understand the value of the contract better than was possible last winter. It must be remembered that the Society is not yet a year old, and that, on the one hand, it lacks the experience which will be certain to come in a few years; and that, on the other hand, this is a critical period, deserving of great forbearance from the members. If for a few years members as well as officers and superintendent endeavor to make the Co-operative a success, it will gain a solid footing, and be a great and lasting benefit to the University.