Only a lack of sufficient funds is blocking the appearance of the '49 Redbook, editor James F. Ryan '49 asserted last night, claiming that $500 more revenue would make possible its immediate publication.

Ryan attributed the financial embarrassment to "inadequate local advertising solicitation and poor circulation coverage." Insertions by merchants in the Square total $25, and only $85 out of 1100 members of the class of '49 are now in possession of three dollar receipts for Red Book subscriptions.

Alan E. Heimert '49, Business Manager of the delayed book, reported that about $1400 is on hand, and that the largest single item outside of subscriptions of this total came from direct mail appeals to the parents of the class members. Frederic W. Richmond, Law School student whom Ryan termed "an expert businessman" secured a $600 response to his mimeographed form letter from which he received $125 as a commission.

Personnel problems were singled out by Heimert as the major difficulty with Redbook production, and he blamed a large turnover in staff responsible for making cohesive action impossible. Advertising, said the business manager, was originally under a separate head Cyril H. Wyeke '49, whose "matrimonial plans interfered with Redbook promotion."