COLE ANNOUNCES COOP WILL GIVE OUT $79,000

G. E. Cole, manager of the Harvard Cooperative Society, announced, yesterday that the Coop would distribute dividends amounting to over $79,000. It was not found necessary to reduce the rate on the dividends, which remains the same as in previous years, ten per cent on cash purchases and eight per cent on charge purchases made during the fiscal year ending June 30, 1932.

Anticipating a further reduction in the volume of business, the Society made a ten per cent reduction in salaries at the beginning of the present fiscal year. In addition, the personnel of the Society was reduced by six employees.

A list of nominations for stockholders, officers and directors for the coming year was also made public. Those nominated for stockholders for a term of five years are: Edward F. Miller, and A. C. Hanford; for officers for one year; president, Henry S. Thompson; vice president, Austin W. Scott; secretary, Walter Humphreys; treasurer, John L. Taylor; for other directors for one year; from Harvard at large, Delmar Leighton and Alfred S. Redfield; from M.I.T. at large, Horace S. Ford and Jasper Whiting; from officers of Harvard, Clinton P. Biddle; from students of M.I.T., Wilbur Huston; from senior class of Harvard, Bradford K. Bachrach '33; from junior class of Harvard, Theodore Chase '34; from sophomore class of Harvard, W. F. Bowditch '35.