During the past two years the management of the Harvard Co-operative Society has been re-organized and a great increase in the volume of business has resulted. From present indications the society is reasonably certain of being able to pay out at least $9,000 in dividends, an increase of $3,000 over that of last year. The increase in business in the various departments for the fiscal year ending July 1 is approximately as follows: Book department, 9 per cent.; stationery, 25 per cent.; men's furnishings, 63 per cent.; tailoring, 61 per cent.; Medical School branch, 12 per cent.; furniture, 137 per cent. The total increase is about 25 per cent. The success of the furniture department, which was started last year as an experiment, is particularly to be noticed. Next year a large stock of photographic supplies, including printing, developing, mounting and framing materials will be offered for sale.

Assistant-Professor Cummings has resigned his position as president of the society, owing to his expected absence next year on sabbatical leave, and the position has been offered to Assistant-Professor L. J. Johnson.