The Union has again completed a year with a loss slightly greater than that of the preceding year. Two years ago conditions improved so that there was again of $6,308.82 over the loss of 1914-15, but last year a loss of $8,910.78 was incurred. This year there has been an excess of expenditure over the income for the period from September 1, 1916 to August 9, 1917, amounting to $10,861.40, as compared with an excess of expenditure over the income amounting to $8,910.78 for the previous year ending August 31, 1916, or an increase in the net loss for the period now under review amounting to $1,950.62.

The accounts of E. H. Clark '96, treasurer, for the year ending August 9, 1917, are as follows: House Department. Income.   1917  1916 Membership Dues  $15,282.00  $17,362.00 Rentals  725.00  935.00 Miscellaneous  82.17  16.27 Care of rooms  140.00  140.00 Bed rooms  1,343.50  1,356.00 Totals  $17,522.67  $19,809.27 Expenses. Entertainment  $219.78  $641.23 Insurance  837.45  831.76 House Linen  79.76  96.90 Periodicals and Newspapers  170.25  282.65 House Repairs  867.88  1,255.80 Rent of land  1,260.00  1,260.00 Wages--House Service  5,080.90  5,264.54 Wages--Library Service  712.69  710.56 Wages--Office  2,397.67  2,537.00 Meals--House Service  2,036.00  2,281.00 Meals--Office  345.00  353.00 Taxes  6,130.43  5,967.46 Library Expense  169.45  144.45 Printing and Stationary  682.98  802.59 Fuel  2,644.36  1,995.78 Water  510.60  432.43 Electric Light  1,155.43  1,437.13 Laundry  271.71  242.90 Telephone  52.75  146.13 Interest Net  94.97  43.73 Total  $26,840.64  $28,034.14 Loss  $9,317  $8,224.87 Restaurant Department. Total income  $34,746.00  $37  485.15 Less cost of sales  21,152.15  22,654.61 Gross Profit  $13,593.85  $14,830.54 Total expenses  $16,274.45  $17,103.91 Loss  $2,680.60  $2,273.37 Other Departments. Pool and Billiards. Receipts  $977.20  $1,292.14 Expenditures  474.87  545.40 Gain  $502.33  $746.74 Cigars and Cigarettes. Receipts  $2,004.25  $2,537.64 Expenditures  1,626.90  2,088.86 Gain  $377.35  $528.78 News Stand. Gain  $257.49  $311.94 Summary. House Department(loss)$9,317.97  $8,224.87 Restaurant (loss)  $2,680.60  $2,273.37 Total loss  $10,498.24 Pool and billiards  $502.33  $746.74 Cigars and Cigarettes  377.35  528.78 News stand  257.49  311.94 Total gain  $1,137.17  $1,587.46 Net Loss  $10,861.40  $8,910.78