The report of the directors of the Co-operative Society for the fiscal year ending July 31, 1905, is issued today, and may be obtained by last year's members at the Society's office in Lyceum Hall. The stockholders have declared a dividend of 7 per cent on the dividend drawing purchases, as against 4 per cent, in 1903-04, and 8 per cent, in 1902-03. The dividend checks will be ready to be given out on November 15.

The business for the year has shown improvement, and the net earnings were much larger than in the previous year. The profits for the year were $9,225.42, after making the usual deduction for depreciation and paying $5,375.84 for improvements in Lyceum Hall, as against a profit of $5,849.78 in 1903-04, and $12,426.33 in 1902-03.

The statement of receipts and expenditures for the fiscal year ending July 31, 1905, is as follows: RECEIPTS Men's Furnishing Department,  $52,245.27 Book Department,  73,371.79 Stationery Department,  45,781.19 Tailoring Department,  27,612.13 Furniture Department,  21,650.83 Coal and Wood Department,  17,653.93 Membership Fees,  2,513.00 Interest and Discount,  3,168.85 Lyceum Hall rents,  1,476.58   $245,473.57 EXPENDITURES Cost of Merchandise sold,  $196,449.40 Salaries,  20,252.78 Rent,  427.50 Telephone, Postage, etc.  990.55 Advertising,  1,261.67 Express and Carting,  2,124.54 Insurance,  942.07 Stationery, etc.,  787.80 Gas, Electric Light, etc.,  756.17 Other Expenses,  685.43 Lyceum Hall Alterations,  5,375.84 Lyceum Hall Expenses,  2,721.95 Interest,  2,932.70 Depreciation, etc.,  539.75 Balance, profits,  9,225.42   $245,473.57

COMPARATIVE STATEMENT OF SALES BY DEPARTMENTS   13 mos.   1903-04.  1904-05. Men's Furnishings  $52,573.66  $52,245.27 Books,  76,744.16  73,371.79 Stationery,  46,776.07  45,781.19 Tailoring,  33,007.35  27,612.13 Coal and Wood,  17,201.98  17,653.93 Furniture,  19,214.37  21,650.83   $245,517.59  $238,315.14 COMPARATIVE STATEMENTS.   13 mos.   1903-04.  1904-05. Expenses,  $34,010.77  *$28,228.51 Amounts added to capital or surplus,  555.08  660.21 Amount of Dividends,  5,294.70  8,565.21 Rate of Dividends,  4 per ct.  7 per ct. *Excluding Lyceum Hall expenses.