The twelfth annual meeting of the American Economic Association was held December 27, 28, and 29 at Ithaca. At the opening meeting a paper was read by President Hadley of Yale, president of the association, on "Economic Theory and Political Morality." At the second day's session papers were read by Charles S. Fairchild '63 on "The Financiering of Trusts," and by W. H. Baldwin, Jr., '85, president of the Long Island Railroad, on "Railroad Relief and Beneficiary Associations." On December 29, the committee appointed at the last meeting to report on "Colonial Finance," of which Hon. Charles S. Hamlin '83 was a member, presented its report. At the last day's session John Graham Brooks '75 read a paper on the "Label of the Consumers' League."