Two Boston University students have established an intercollegiate newspaper, The Boston Cauldron, which they hope will reach a circulation of 100,000 by next year. This would give it the largest circulation of any undergraduate paper in the country.

The Cauldron staff will deliver approximately 50,000 copies of the first issue, on February 9, to affiliated colleges free of charge. If a student writes one article or helps plan the paper, the Cauldron will list his college as "affiliated."

Harvard will be affiliated because Mary Belle Feltenstein '69 has said she will send copies of the CRIMSON and the Harvard Calendar to the new 12-page tabloid.

The Cauldron's executives are receiving part-time salaries from federal government work-study funds, because the newspaper was originally conceived to report on projects of work-study students at the Huntington YMCA.

When the students decided to expand coverage to Boston colleges, volunteers were added to the staff.

The Cauldron will not compete with other college newspapers. Carol Natelson, a BU junior who is the paper's editor-in-chief said yesterday that "we feel we can fill needs individual college newspapers can't handle, such as reporting events from many campuses and covering the Boston community."

"Well-known people who come to Boston often refuse to give interviews to college newspaper reporters," Miss Natelson said. "They operate on the principle that if they talk to a reporter from one college they have to talk to staff members from all the Boston schools," she said. "In such cases the Cauldron would have the advantage of representing many schools with a single reporter."

The Cauldron's content will be one-half news and feature stories and one-half advertising. Business manager Jeffrey Silverman, a junior at the Massachusetts Institute of Technology, plans to encourage advertisers to establish discount prices for goods and entertainments Couldron readers buy.