The fiscal year ending May 31st renders it impossible to give at this time a complete statement of the finances for 1913-14. A brief review of the financial status to date will, however, furnish some idea of the condition of affairs.

Beginning last fall a new plan was adopted for procuring the undergraduate fund. Subscriptions were received from men regardless of the fact whether or not they belonged to any branch of the Association. Judging from the results so far this method seems to have proved entirely satisfactory.

All the requirements of the budget for the year 1912-13 were met, and there remained in the treasury a surplus of $474.40. This year the Cabinet voted to donate the surplus of $474.40 and $25.60 in addition, making a sum total of $500.00--as the gift from the undergraduate fund to the permanent endowment.

The sources of the funds for the maintenance of the budget are the Undergraduates, the Graduates, the Faculty, and "Friends." At the end of March the bank balance was $1503.18. Considering the expenditures for the remainder of the year, this should leave on May 31st, the end of this fiscal year, a sufficient surplus to meet the expenses which will accrue during the summer and the early part of the fall.  FRANKLIN H. TRUMBULL, '14.  Treasurer.

Report of Librarian

The work of the Phillips Brooks House Librarian is divided into four departments--the Text-Book Loan Library, the regular Library, the St. Paul's Society Reading Room, and the Christian Association Reading Room. The use of these different departments by the students has been increasing every year, and their usefulness and scope of influence has become more clearly defined. They are capable of still further broadening, and of performing more service in their different fields.

The present number of volumes now available on the shelves of the Text-Book Loan Library is 2274, a net increase of about 300 over last year. Of these, quite a large proportion are language books, especially in the French and German courses. The books of these courses and others where there is a variety of authors have been arranged in alphabetical order upon the shelves.

The books for this library are regularly obtained in the clothing collections which are made every year. In the past year an attempt was made to induce the Seniors to contribute the books they were through with to the Loan Library. Quite a number of books were obtained, but not as many as might have been, because of the general rush at the close of the year. It is hoped that this idea may be worked out much more successfully this coming June, by having special collectors.

Another source of many additions to the library in the past year has been large gifts of law books from some of the graduates.

With these new sources and wider publicity the use of the Loan Library has greatly increased during the past year, 511 books having been withdrawn by 180 men. This is an increase in books used of 136 over last year. The greater use of the library by law students has helped in this respect.

The steady increase in the use of the Loan Library for the past few years shows that it has a place to fill in helping to lower the expenses of needy students. It was considered of enough importance in this way to be included in the prospectus issued concerning the new Freshman dormitories. There has been a wider knowledge of its existence and its advantages. The demand for books, especially at the beginning of the year, when someone was kept constantly in attendance, was great. Many more books could be used, and it is hoped that those who can give books will regard this as an opportunity to help a cause which assists in the reduction of expenses for those who need such aid.

(The report then goes on to cover the Regular Library with its books of a religious nature; and the St. Paul's Society and Christian Association Reading Rooms, which keep various magazines and publications, and make a convenient place for reading and study.)  CARL G. FREESE, '15.  Librarian.

Report of the Chairman of the Social Service Committee

In this Report I shall take up each branch of the work in order.

In the first place the Social Service Secretary has sent out approximately 400 boys' club leaders and teachers to the various settlement houses. This number does not include those students who have just experimented with the work, but is made up of men who have worked faithfully ever since they first started. From all reports, at least nine-tenths have done good work with their clubs.