Burlington weekly free press. [volume] (Burlington, Vt.) 1866-1928, 1882-07-07
CORPORATIONS AND SOILS,

The old familiar adage concerning the ex
clusively corporal character of corporations
will have to be relocated to the realm of ex-
ploded ideas, if one or two recent corporate
examples are followed as they ought to be,
and as there is reason to believe they will
be- and it will become generally accepted
fact that corporations have souls rs well as
bodies. The particular point on which
they are developing a spiritual side is that of
care for the wel-being of their employes-a
favorable indication not only in itself, but
since they have begun their charity at home,
as foreshadowing some future good time
when they will do something for the long
suffering people who are their patrons a
splendid example was set by those great
railroad magnates, the late Asa Packer of
Pennsylvania and the late Moses Taylor of
New York, whose prncely gifts in
spective roads will be well remem-
bered. The benefactlons WERE however,
rather personal than corporate but they at
least showed sense of the duty devolving
upon railroad managers and set the example
for them. Now, however, Il comprehensive
and Deneiiccnt scheme has been devised and
carried into operation by that great corpora
ton, the Baltimore and Ohio railroad which
! can not fail OF being OF ncalculable benefit to
| its employees For some time the managers
have encouraged n relief association, provid-
ing for pecuniary relief and medical treat
ment for sick and disabled employees, all at
| actual cost, schooling for employees children,
besides other minor benefits and there has
recently been added savings bank and
| building feature. The ASSOCIATION has lately
| been reorganized, and incorporated by spe-
| cial act of the Maryland Legislature, and the
| Baltimore and OHIO company, which origin
| which also pays annually about $50, 600 to
the fund for the expenses, has guaranteed all
the provisions of the old and new features
thus giving it the support and stability Of
its own standing and solvency. The
company makes the announcement that the
objects sought to be attained by the savings
bank and building feature, are encourage
ment of prudence, economy and thrift, by
placing within the reach of employees
all the benefits to be derived from the sound
est and most liberal savings institutions OF
the country. The company guarantees a
fixed rate of interest of four per cent on all
deposits which are to be loaned for building
purposes at q uniform rate of six per cent
everywhere on its line, and also gives the ser
vice of Its agents and officers free of ex.
pense in collecting and discussing, and of its
trea sury in holding the funds of the associa-
ton, and large concession in freights and
transportation to its members desiring to
build. The management is to be under the
direction and control of board of directors
chosen Jointly by the company and by the
members Of the association, and its provi-
sions are all for the benefit of those belong
ing TO it, The whole plan, if properly car
ried out,-and the high reputation of the
company and its managers gives the assur-
ance that it will be-is an exceedingly
good one, and well worth imitation by the
other grea! railroad corporations. Were all
corporate organizations to take an equal in.
terest in the welfare of their employees, TO
adopt policy so liberal toward them, VIC
should hear no more of strikes or labor
troubles. Employer and employee would be
united by common bond of sympathy; q
spirit of mutual goodwill would be estab.
lish ed and in time of trouble concessions
on either side would be easy. And besides
all this there is no doubt that the Baltimore
and Ohio will be more than repaid for its
outlay by the better service It's employees will
| render.