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Society Votes Highest Return Ever Paid 10% on Charges, 12% on Cash


Several thousand members of the University will receive dividends of ten percent on charged purchases at the Harvard Coop, and 12 percent on cash transactions, it was announced yesterday by George E. Cole, manager of the store.

Dividends have been declared on purchases made during the fiscal year ending June 30, end are payable beginning Monday, October 14.

Largest Dividend

Ten and twelve percent is the largest dividend ever paid by the Coop, and the exceptionally high rate is due to a very successful business year, said Cole. The Society has been paying dividends of eight and ten percent for the past fifteen years, except for 1933 and 1934, when the rate was only seven and nine percent.

At the same time, announcement was made of the new officers of the Society. William J. Bingham '16, and Dean Arthur B. Lamb '05, were elected stockholders for a term of five years.

Henry S. Thompson, '99 of Concord, was elected president. Other officers are Austin W. Scott, vice-president; Walter Humphreys, secretary; and Horace S. Ford, treasurer. These men are in office for one year.

Among other directors, for one year, were elected: Dean Leighton, Alfred C. Redfield '13, Stanley F. Teele, Professor Kenneth B. Murdock '16, David D. Henry '41. John Ballantine '42, and George Putnam '43

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