The Board of Directors have voted to submit to the Society, at the next general meeting to be held on Thursday evening, the following proposals, and to recommend their adoption:

1 - That, beginning with the next fiscal year, all persons who are now eligible to membership in the Society, (that is, all persons connected with the University), have the privilege of buying or ordering goods at the Society's store, whether they are members or not.

2 - That goods be sold in general at a slightly greater advance above cost, and at slightly higher prices, than at present. The prices, however, to be kept below ordinary retail prices; the prices of college text-books are not to be raised at all; and in special cases prices may be reduced, at the discretion of the Board of Overseers and the superintendent to any extent required to hold the business of the Society.

3 - That the annual membership fee be lowered to $1.50,

4 - That a record be kept of the profits made on each member's purchases; and that, at the end of the fiscal year, the net profits of the entire business be divided among the members in the proportion which the gross profit made on each member's transactions bears to the total gross profits made on the transactions of all the members. But before dividing net profits, a certain part, to be determined by the directors is to be retained to cover depreciation of stock, and a further part retained to increase the Society's capital.

Note. - It will be observed that the basis of division is the proportion of profit on each member's business to the profit on the business of all members. The total profit would naturally be larger than that on the business of members, since the Society would expect under the new scheme, to make sales to non-members, and to make a profit on its business with them as well as on its business with members. Other methods of dividing profits are possible; e. g. equal division among members, but the directors recommend the method mentioned as being on the whole the fairest.

5 - That members only have the privilege of obtaining discounts from the affiliated tradesmen.

Note. - By propositions 4 and 5, the only distinction between members (paying fees) and non-members (paying no fees) are: (1) members alone participate in the division of profits; (2) members alone have the advantage of the affiliated tradesmen list.

The chief advantage of the proposed scheme is that under it the Society could deal with all persons connected with the University, whether members or not. A considerable extension of the Society's business ought to come from throwing it open to non-members and the increased profits from this cause and from the higher prices will be divided among members. At the same time, by dealing with all students and others connected with the University, without distinction, the Society can make on transactions which it now finds difficult or impossible to conduct and can become more useful both to the students and to the University.

By order of the Board of Directors.