An unusual financial report is presented to the Sophomore class this morning by its secretary-treasurer. It shows a balance in the class treasury, after the expenses of three smokers have been subtracted, of over a $1000. The credit side of the statement represents a total of $1242, of which $290, was profit on the Freshman Red Book, and $937, the result of the collection of class dues.

The system by which so successful a collection was conducted is a new one, at least in recent years; and should be plainly understood, both for the benefit of future classes and the relief of any present classes which have seen in it a return to the old subscription method of choosing athletic managers. Its basis is competition. The finance committee of twenty-five men is divided into a general chairman and four groups of six men each. The members of each of these groups compete among themselves for chairmanship of their group, and the four groups then compete with one another for final standing. The allotments of the twenty-five or so men to be collected from by each members of the committee are made alphabetically.

It is conceivable that, with the rewards for such a competition made excessive, some evil features of the athletic subscription system might arise. As it is, however, men and groups are competing only for recognition as those who have most aided the class in a very necessary way. The system of 1916 in this as in a number of other matters deserves, beyond much praise, close attention from succeeding classes.