Word: member
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Dates: during 1880-1889
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Charles Hudson, '87, has been elected an honorary member of the Signet...
...That a record be kept of the profits made on each member's purchases; and that, at the end of the fiscal year, the net profits of the entire business be divided among the members in the proportion which the gross profit made on each member's transactions bears to the total gross profits made on the transactions of all the members. But before dividing net profits, a certain part, to be determined by the directors is to be retained to cover depreciation of stock, and a further part retained to increase the Society's capital...
Note. - It will be observed that the basis of division is the proportion of profit on each member's business to the profit on the business of all members. The total profit would naturally be larger than that on the business of members, since the Society would expect under the new scheme, to make sales to non-members, and to make a profit on its business with them as well as on its business with members. Other methods of dividing profits are possible; e. g. equal division among members, but the directors recommend the method mentioned as being...
...Instead of selling goods at the lowest possible price, they are to be sold not much below ordinary retail prices, though still somewhat below them. On that method, the Society will naturally make profits; and these profits are to be divided at the end of each year among all members. That is, a member will get the gain from the Society's operations not so much in the shape of a reduction of price on each purchase, as in the lump sum returned to him at the end of the year. On the other hand, any person connected with...
Prof. Richards of Yale has received a subscription of $1000 for the improvement of the athletic field from a member of the class...