Almost $50,000 are available for distributions in dividends to members of the Harvard Cooperative Society, according to the recent report submitted to the stockholders of the society by its president, Henry S. Thomson.
After adding to the gross profits of the Harvard store, $147,360, those of the Technology Branch and all other income of the Society, the total income from all sources amounted to $242,732.84.
The expenses of business for the year amounted to $152,684.60. In addition to this the Directors have voted to increase the Employees Reserve Fund, to make a further addition to the building fund, and to provide for other items amounting in all to $41,627.26. Deducting these items from the original total income, there remains a sum of $48.420.96 to be distributed in dividends or added to the surplus of the society.
Declare Usual Dividend
The report also states that the Directors have voted a dividend of 10 percent on cash sales and 8 percent on credit sales for all purchases made during the year by members of the Society.
As regards membership the report shows a particularly large increase among the alumni members, with 719 members last year as compared with 594 the year before. The Senior class showed an increase of 72 members, and the Junior class of 50: there were 67 more Sophomores in 1922-23 than in 1921-92, while the increase in Freshmen was but three.
The complete statement of membership of the Harvard Branch is given below: