"Many important questions have been considered. Our present colony, as you know, is composed of young people, as a rule not yet thirty years of age. Individually they possess strong, disease-resisting, vital organizations, which have been reinforced by harmonious, mental and physical development. This immunity from disease to such a large extent, has been still further strengthened and fortified, by the beneficial effects of our organized sanitary, social and industrial methods. These methods have lifted the weary burden of toil from our people, and substituted therefor, a light exhilarating labor, simply healthful exercise. Under such favorable conditions, our workers ought to reach the age of fifty, with health and vigor still unimpaired. For the reasons named, very few of our co-operators, outside the ranks of the mother's club, are at present entitled on account of either illness or accident, to draw their wages from the insurance fund. Fortunately, so far, not one has become permanently disabled! All things considered, it was not unexpected, when a final vote on the question was taken, that a majority was found to be in favor of fixing the age of retirement at fifty years. "This decision will give the farm company, twenty years in which to prepare for the event. In the light of our past experience, no one doubts our ability to accumulate an adequate fund, with which to meet the additional drain upon it. This drain will prove a heavy one, as the retired pay of the co-operators, who have reached the age of fifty, has been fixed at two-thirds of their present pay, that is, fifty dollars per month or $600 per annum. Premising that the maximum number on the retired list at any one time will not exceed fifty; the total annual retired pay will then amount to $30,000. "The following plan has been devised to meet this additional expenditure. It has been demonstrated conclusively, that five years hence, the income of the farm, will warrant the increase of the wages of each member of the company, to $1,500 per year. At least $1,200 of this amount, will be spent at the store or restaurant. We shall then have a new basis for calculating the five per cent profit for the insurance fund; that is, $600,000 annually, which will give $30,000 each year for the fund. Allowing that savings at the present rate, $20,000 per annum, for seven and one-half years, aggregating $150,000; will prove ample for incidental needs, until the time for the retirement of the first co-operator! We calculate that fifteen years of savings on the new basis, will give us twenty years hence, a fund of $450,000 to commence with.