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To the Editors of the Crimson:

There is one point contained in the objection to the substitute plan of incorporation for the Co-operative Society which appears in the CRIMSON of yesterday which, being neither an untried possibility nor an opinion, but a fact, seems to require an answer.

There is, unfortunately it must seem to every one who desires authoritative student control of the Society, temporarily a necessity for keeping artificially the number of members below the present maximum, and this might best be done probably by a slight increase in the cost of membership tickets. Such an increase would go to the clear profit of the Society; and strictly it seems no more than just if the incorporation brings all the financial improvements which are anticipated from it. But even the increase of less than a dollar, required immediately to reduce the membership by 988 would be diminished each year for three years, until in 1906 and forever after the possible number of shares would far outrun the actual membership of the Society. This result is plainly necessary from the figures, for the last eight years, of the increase in the size of the University, the membership of the Society, and its capital stock. Indeed, so far as the number of available shares goes, every person connected with the University might become a member without the payment of any fee whatsoever, within no very distant date. The exclusion of a constantly diminishing number of persons who might wish to join at the present rate for the next three years is confessedly a trying necessity; but such passing evil would seem to be less than that of excluding forever from the control of the Society all but five persons.

No certain legal difficulty is named by the gentleman who objects to the substitute plan; and it was perhaps hardly to be supposed that any one who favored strongly the features of a certain scheme would deem any expense, however slight or for whatever protective purpose, incurred by a substitute plan, "worth while." GORDON IRELAND.