ECONOMETRIC SOCIETY ANNUAL REPORTS, 1975.

This section presents the reports of the President, Treasurer and the Secretary of the Econometric Society and the editor of Econometrica as of October 1975. According to the Secretary, previous reports have presented circulation figures for Econometrica based on physical shipments rather than paid-up subscriptions. Although this is trivial for most magazines and journals, the difference was substantial for Econometrica until recently, because shipments were not stopped for non-paying subscribers. Total circulation in 1974, including soft currency and free copies, was 5,768, down 16.5 percent from the average circulation reported for the 1968-73 period. According to the Treasurer's report, the Society was last audited in 1968, for the year ending December 31, 1967. If the income statements had been correct, the Society would have run a cumulative surplus during 1968-73 of $30,400 and would have arrived at 12-31-73 with a fund surplus of $31,900.