The University is preparing a new publication intended to give Harvard alumni a comprehensive picture of the major issues in each faculty during 1974-75.

The publication, entitled "The Almanac," will consist of reports from each faculty dean and a number of lengthy articles on the major University-wide issues of the year.

The first issue will be sent to all Harvard alumni when it is completed sometime next month, Dr. Chase N. Peterson '52, vice president for development and alumni affairs, said yesterday.

Peterson said "The Almanac" will be issued "periodically, but probably annually," if alumni reaction to the first edition is favorable.

"The Almanac" is not designed to replace any of the Harvard-oriented publications presently available to alumni, but is designed to serve the purpose of a corporate annual report, Peterson said.

"This is going to be our chance to make our report to stockholders, an annual report on the state of things," Peterson said.

"The Almanac" is being edited by John A. Dromey, associate editor of Harvard Magazine. John T. Bethel '54, editor of Harvard Magazine, is assisting Dromey.

The idea for an "annual report" was raised by several alumni who expressed concern that Harvard Magazine, The Gazette and other alumni publications did not offer the basic summaries of the important issues at Harvard, Peterson said.

However, he added that the preparation of such a report "is something we've been meaning to do for years."

Although Peterson said he does not think the report will be "too corporate," one alumnus who has already read the gallies of "The Almanac," complained that the letters from the deans are "written in corporatese rather than journalese."

"The Almanac" is being funded out of money formerly used to pay for the cost of binding the Harvard president's annual report and mailing it to alumni.

Peterson said that since the president's report now usually centers on one theme, the money will better serve its purpose if it is earmarked for "The Almanac."