EDITORS DAILY CRIMSON. - The management of the Boat Club has this year been enabled to pay off the debt which has hung over it for so many years, and the old cry of the "crew debt" is forever I hope, a thing of the past. At the beginning of this year, there were bills against the Boat Club amounting to $1973.16. These, as well as our own bills have all been paid, and there remains in the bank a surplus of $160.03. Good luck has been an important factor in accomplishing this. First, the Pudding theatricals were both successful. Then the subscriptions amounted to more than ever before, owing to the increased size of the classes. Moreover, the subscriptions for the new launch were sufficient also for a part of its running expenses, and finally the kindness of Mr. Lathrop in undertaking the Gymnasium Benefit Exhibition, and the exertions of the Glee Club in our aid at New London, helped to swell our receipts.

In former reports have been accounts of the money which has passed through the hands of the treasurer, and not statements of actual expenses and receipts. In this report I have tried to give only the actual expenses. For instance I paid Mrs. Bucknell for board at training table, $957.00, but I received back from the crew their share (reckoned by the rate of their previous board) which was $547.75, so that the item "board" is the difference between the two. I have done this to show that the actual expenses of the Boat Club are not as large as former reports might lead one to suppose. The expenses of the club for this year, omiting the debt left us, have been $4323.91, while the seeming expenses of the previous years, owing to the former methods of the reports, have been about $6500.00 annually.

In conclusion I have only to say that Capt. Mumford did all in his power to lessen the expenses of the crew; and I also desire to thank those who kindly helped in the wearisome task of collecting subscriptions, especially Mr. Amory, '88; Mr. Paine, '88; Mr. Spaulding, '88; Mr. Forbes, '89; and Mr. Bush, '89.

Truly yours,F. S. COGLIDGE.