According to the financial statement submitted by F. K. Bullard '20, secretary-treasurer of the Sophomore Class, the 1920 treasury has the largest surplus possessed by sophomore organizations in recent years. A balance of $1,391.89 is maintained for the class finances. One reason for the large total of assets was the successful collection taken last winter, which netted a sum of $2,258.62.

The conditions arising from the war have affected the class treasury in numerous ways, and have cut down the expenditures under every head, while barely reducing the credits. No class dinner was held last year, and as a result no expense was incurred from this source. A thousand dollars was spent, however, in the purchase of ten $100 Liberty Bonds of the first issue. Seven hundred dollars were also loaned from the class fund to the 1920 Red Book because of the unfavorable conditions for issuing a Freshman Year Book. A large part of this money, however, will be repaid to the class treasury as soon as the Red Book accounts have been completed.

The yearly itemized statement follows: Receipts. Class collection,  $2,258.62 Interest,  13.63 Total,  $2,272.35 Expenditures. Printing,  $14.10 Class Smoker,  138.26 Moving pictures,  28.00 Loaned 1920 Red Book,  700.00 Ten $100 Liberty Bonds,  1000.00 Total,  $1,880.36