tl19690314-000 "69 0 -s Book Shop grosses $106,662 pre-expenses in fiscal '68 by FRAN MOULDEN Financially now an asset to the College, the Book Shop grossed a ""profit"" of $106,662. in the fiscal year ending June 30, 1968, before approximately $154. thousand in expenses, which ended the year with a $48.5 thousand deficit. These figures represent only a small, but misleading part of the broad pic-ture of Book Shop profits and losses in what most authorities feel is a half-million dollar annual opera-tion. The profit and loss statement for fiscal 1968, the first ever to be com-piled and released, showed heavy expenditures of $67. thousand in operating expenses, $42. thousand in construction and equipment for the new store location in Linthicum Hall, and $45.5 thousand in expen-ditures for increases in inventory. AL Financial outlook marred by $3500 in unpaid charges Today, the financial outlook for the Book Shop is partially marred by the $3500. outstanding in facul-ty, staff, and department charges. Through the efforts of Dallas Gar-ber and Dean of the College Joseph Falco, the store is working on the collection of this money, but, as Mrs. IShiels notes, there ""is no le-gal way"" of collecting. These ac-counts date, in some cases, over one Year; the oldest account is 18 Months. Charges are still being permitted, Mrs. IShiels observed, if the account of the individual or department is up-to-date. Otherwise, charges are refused. Last month, a new refund policy Was instituted which Mrs. Shiels feels ""doesn't make the store u-nique"". ,Seeing the need for a time (Continued on page 6) Gross receipts tallied at $492. thousand with a gross profit a-mounting to $106.5 thousand. The deficit for fiscal '68, arrived at prior to the deduction for increased inventory, was $1,877.72, or .4% of the total net sales. 10% profit by June For the six-month period from July to December, 1968, the store has cleared a 4.9% profit, or $14,- 556., observes Dallas Garber, Di-rector of the College Union under whose direction the Book Shop falls. With this figure, Garber hopes to add another 6% and arrive at a clear 10% profit by the end of fis-cal '69 on July 1, 1969. Policies being updated 'What appears to be a favorable financial outlook is only one as-pect of the greatly-expanded Book ;Shop which took up residence in Linthicum. Hall in 'September, 1967. Regulatory measures and policies are presently being up-dated to meet the financial expansion. Previously, the Book Shop was unbudgeted and shop managers like David Spicer, (predecessor of the current manager Mrs. Elizabeth ,Shiels), felt that they had little to work with in the way of figures. As explained by Mrs. Shiels, the College's administration and the Book 'Shop itself came to realize that 'growth necessitated the insti-tution of controls over store fi-nances. It was and is now a recog-nized need that the Shop have ac-cess to all figures at all times. ""Most cooperative"" Before last June, the yearly pro-fit and loss statement was not auto-matically given to the Book Shop, partly due to the ""inefficient opera-tion"" of the now-obsolete Business Office, Garber explains. In addition to the annual statement, Mrs. Shiels notes, the Comptroller's Office has been ""most cooperative"" in assem-bling a monthly financial picture, although it does not contain opera-ting expense deductions. Moreover, Mrs. ,Shiels is now pre-paring a budget which goes into effect July 1, 1970. The Shop would not be receiving Ifunds but rather would be 'budgeting itself based on its own funds and profits. First inventory taken On June 19, 1968, the first phy-sical inventory was taken in tht� College store. Such inventories are to continue annually or semi-an-nually as part of the new policy. Nationally, the trend for College book stores is to gross 26 per cent profit, explains Mrs. Shiels. TSC is ""below that figure"" in averaging a gross profit of 24-25 per cent. At the end of fiscal 1969 this June 30, Mrs. Shiels anticipates a 24 per-cent gross profit with Garber hop- (Continued on page 6) Book Shop gifts Photo by Quante Gifts at TSC's Book Shop re-ceive a 40-45% mark-up. Mark-ups on other merchandise help to pay for losses on book sales. Vol. XXI, No. 19 TOWSON STATE COLLEGE, BALTIMORE, MARYLAND 21204 March 14, 1969 'Restore law and order' Bill approves scholarship withdrawal The Senate Finance Committee of the Maryland General Assembly last Saturday approved a bill which would withdraw state scholarships from college students who ""misbe-haved."" The final version passed by the Committee states that a student ""guilty of misbehavior or miscon-duct"" could lose his state scholar-ships. Originally the bill would have been used as a coercive device to Gymnasts take divisional crown Photo by Quante SHARON GULLACE practices a jump back straddle on ""(.1te uneven bars, one of the tricks she 'used to aid the team's Jt place finish. Towson's gymnasts won their first title as they captured the di-vision crown at the Women's Na-tional gymnastics tournament last weekend. 'Winning with a total of 71.60 points, Towson led their nearest competitor by over seven points as they blitzed the Division II compe-tition., Teams like Ithaca and Ohio State followed the upstart Tigers who turned their first try at the National foes into a victory. Un-officially Towson copped sixth place nationally of all schools com-peting in this meet. Perhaps the best indication of how far Coach McGinty's girls have come since they broke into the competition last year came from a trainer at Springfield. Upon hearing that the girl whose ankle he was taping was from Towson State, he remarked, ""So you're from that little school that's been scaring everybody"". For the third straight week Carol (Continued on page 4) students involved in ""force, disrup-tion, the seizure of 'property or im-peding school officials."" Sen. Roy N. Staten of Baltimore County was quoted in the March 9 Sun, commenting, ""We're just taking another step to restore law and order,"" Remove bad apples Staten would see the bill used to remove from college what he called bad apples and agitators. Staten was the leading Senate sponsor of another bill to give Maryland college 'officials a tres-passing law against outsiders. Bill brings objections The bill 'brought objections from Senators Lapides and Welcome, both of Baltimore. Julian Lapides felt this measure would ""stir up a hornet's nest."" Mrs. Verda F. Welcome held that while ""many students go too far, many others have more sense than those of us who stick to the status quo."" Resolution passed 'Meanwhile, the House of Dele-gates passed a joint resolution urg-ing every College in the state (pri-vate as well as state) to adopt the 'General Assembly's ""laws, rules and regulations toward riots and disorders."" 'Students . . . should know' The house resolution further ad-vises that each college's stand on demonstrations, including ""any dis-ciplinary action which shall or may be taken following such riots or disorder"" be published. Also, the resolution states that ""students who do participate in rioting and disorder should know in advance the consequences of their acts."" ,p.mmv*.,?:;:*,:atmi:M.MOVAMMV.:filMigtvERNMKRAM'Onnii.:MM'AgaZ.'.'""1:MMUM.t.,MV In this issue... TSC's Jazz Ensemble returns from last weekend's competition at Villanova. PhiladelPhie Musi-cal Academy took the highest honors, but the Ensemble re-ceived ovations from the audi-ence and praise from Stan Ken-ton, noted jazzman. Page Editorials 2 Letters 2 Moore Thoughts 3 Thundercolt 3 Happenings Sports 4 As I See It _ _ _ Jazz Competition Bulletin Board _ 8 "
