There are at present in the treasury of the Sophomore class available funds amounting to $1,466.90, according to the financial report of B. Lewis '20, secretary-treasurer of 1920. Of these funds $1,000 is in the form of Liberty Bonds, of the first loan, bearing interest at 3 1-2 percent.

Last spring the Red Book borrowed $700 of the Class Fund and of this amount $460 has already been repaid, leaving the Sophomores a balance to draw from in case it is decided to invest more of the funds in the third Liberty Loan, although the cost of the recent smoker will necessarily lessen the balance to a certain extent.

The official report of the treasurer for the year 1917-18 is as follows: Receipts. Balance from 1916-17,  $437.15 November interest,  1.50 From Red Book,  460.00 Total receipts,  $898.65 Debits. Assessment to Student Council,  $15.00 Assessment to Student Council to send a representative to Washington on Military Affairs,  10.00 Ballots for election,  6.75 1920 Scholarship to J. A. Sessions '21,  400.00 Total expenditures,  $431.75 Cash Balance,  $466.90 Liberty Bonds,  $1,000.00 Total assets,  $1,466.90