History

A proud tradition started by students for students

In 1912, the Student Body President, W.J. Kopen, appointed a Cooperative Store Committee to study the feasibility of establishing a student bookstore on the campus of Washington State College. The committee report was favorable and the student assembly voted $2,000 toward the capital requirements. The group approached H.S. Groat, owner of a small pharmacy store where Wilmer Davis Hall now stands and inquired about buying out his inventory and taking over his lease. The owner of the building, Dean Elton Fulmer, Dean of Faculty, gave his consent. An idea became a reality and the store opened for business in July, 1914. In the meantime, the student assembly voted another $1,000 to purchase the inventory of Professor G. N. Watt's drugstore. Attorney John Mathews drew up the original articles of incorporation and the Student Book Company, Inc. was created.

While students were pleased with the early operation and felt it was destined for success, ownership details began to be a concern to the early incorporators and in April, 1915, it was decided to transfer all the stock to the Board of Directors, individually. In 1923, as WSC was expanding, the land the bookstore owned was needed for residence halls. The bookstore transferred the land and building to the University and Wilmer Hall was erected. The bookstore surveyed the campus and chose a site near its present location for constructing a new store. About this same time, the original articles of incorporation were revised and the Students Book Company, Inc. became the Students Book Corporation.

In 1947, the Board of Directors decided a new stock ownership plan was needed and designed a trust agreement wherein the Board of Regents of Washington State College were to hold stock in trust for the Associated Students of the State College of Washington (ASSCW).

The store continued to expand and in 1953, the Board of Directors decided to construct a new store on the same site the current building now occupies. It only took nine years to outgrow that construction and additional expansion was undertaken and completed in 1965. More expansions and remodels took place in the 1970's, 1980's and 1990's resulting in the store we know today as the Bookie, one of the best and brightest facilities in the college bookstore industry.

The legacy starts...

The Students Book Corporation was established in 1914 as the Students Book Company by a group of students seeking to provide a bookstore for fellow students at the State College of Washington. Over the years, that establishment has grown into the organization we know today as the Bookie. While that store was originally started with a loan of $2,000 and an additional $1,000 the following year, that original investment became stock in the corporation and by 1923 had was recapitalized to $25,000. The Board of Directors of both the original Students Book Company which was incorporated as the Students Book Corporation in 1923 were the stockholders of the corporation and held that stock in trust for the students of the State College of Washington.

In 1947, a trust agreement was entered into between the associated Students of the State College of Washington (grantor) and the Board of Regents of the State College of Washington (Trustee) wherein the capital stock of the Students Book Corporation was assigned and set over to the Trustee with the condition that the following policies be perpetuated:

operating a general book, stationery, sporting goods, refreshment and mercantile business for service to the students of the State College of Washington
recognizing all capital stock of said corporation is owned by the grantor
selling supplies, books and other merchandise to the students of the State College of Washington at reasonable prices and to provide other services without charge or at nominal cost to the students of the State College of Washington
using the retained earnings of the Students Book Corporation for the purpose of expanding its physical assets to give better service to the students of the State College of Washington
investing earnings in excess of requirements for physical expansion and betterment in lands to be used solely for student purposes
using earnings and dividends over and above the aforementioned uses solely for student purposes and particularly for the use of the students of the State College of Washington
having the Board of Trustees (formerly the Students Book Corporation Board of Directors) operate the business in the interests of and for the benefit of the students of the State College of Washington and to use all of its net income for such purposes, a policy which has been consistent and uniform since the inception of the corporation in May, 1923
perpetuating that the operation of the Students Book Corporation be permanently for the benefit and betterment of and by the students of the State College of Washington

The legacy continues

Since 1947, the students of Washington State College, now of Washington State University have been served in the manner agreed to by the signers of the Trust Agreement.

Here are just some of the ways in which the Students Book Corporation has adhered to the aforementioned policies:

Point of sale (POS) discounts to all students established in 1956. Since 1980 this totals $10, 483,933
Dividends paid directly to ASWSU since 1976 totaling $1,112,543
Scholarships funded since 1990 totaling $66,000
Building additions and expansions and remodels Pullman (1954, 1964, 1980, 1994, 1995, 1998, 1999)
Extended services to the urban campus locations (1991, Tri-Cities; 1992, Spokane; 1995-96 Vancouver)
Enhancements to urban campus locations (2000, Spokane; 2002, Tri-Cities)

In addition to the capital stock held in trust for the students of Washington State University that original investment of $2,000 made by ASSCW in 1914 to establish a Student Book Company has been and continues to be handsomely returned and will keep the legacy alive for many years to come