The report of the Auditing Committee on Athletics, in regard to the finances of the Boat Club contains a warning which needs to be emphasized. There is danger that the club may not receive sufficient money this year to carry it through free from debt. It is most important that the current expenses of each year be paid the same year, for nothing is more burdensome and discouraging to a new manager than a debt carried over the long vacation. By a great effort last year the club was put upon a sound financial basis and that basis must be preserved. It will be much easier to keep free from debt than to overcome it, should it be allowed again to accumulate. The receipts of the Boat club come wholly from the generosity of several dramatic and musical clubs and from subscriptions. The expenditure for the tank and launch, however, have made the amount to be raised this year unusually large, and this extra amount must be collected mostly by subscription. We would join the committee, therefore, in urging all who are interested in the success of the crew to subscribe as liberally as possible for its support.