The three subjects which have been chosen for essays in the $1050 Babson Prize Essay Competition, have recently been announced as "The Forecasting of the Price of Wheat"' of "Cotton", or of "Lumber". Mr. R. W. Babson, founder and president of the Babson Statistical Organization, has given this money for the purpose of stimulating the interest of university students in statistical economics, business forecasting, and the stabilization of our economic life.

The subjects were chosen with the aim of satisfying all sections of the country by appealing to their various interests.

The prize money will be divided as follows: (1) A prize of $650 for the best essay submitted by either an undergraduate or a graduate student at any American university. (2) A prize of $400 for the best essay by an undergraduate student at any American University.

Professors Will Serve as Judges

The American Economic Association, which is conducting the competition, has selected three eminent professors of Yale, Cornell, and Minnesota to act as judges and make the awards.

The rules that govern the competition are as follows: (1) Graduates or undergraduate students of any college in Cananda or the United States may compete. (2) The manuscripts must be typewritten and are limited to 12,000 words. (3) Manuscripts submitted must bear a pseudonym, but must be accompanied by an envelope containing the author's name and pseudonym. (4) The Babson Statistical Organization will not give out information bearing on any of the subjects. (5) The closing date is October 1, 1924, when essays must be in the hands of Mr. R. B. Westfield, secretary of the American Economic Association, Yale Station, New Haven, Connecticut.