Martinsburg independent. [volume] (Martinsburg, W. Va.) 1875-1900, 1888-03-24
CHAPTER XVII.
THE NEW STOCK COMPANY.

/ OF his VIII, nor course OF reasoning could com
/ fort him. For a moment he might find re-
/ lief, but his torment would only return
! afresh. Humanity are slow to believe good
of fellow creatures, but nothing seemed too
bad to be true. He thought it might have
/ Gained him to have been assured even of the
worst. He believed that he might despise
the woman he had elevated to the highest
| pinnacle of his ideal temple of womanhood.
if she had made so little of the most sacred
| gift of God. But it would have been vio-
lence to his feelings to inquire of those who
must know. Her father must know but his
smiling face will reveal nothing, and his
very reserve was peopled with horrors for
Philip. His wife Jane must know, too, but
| he could not bear to think of the malicious
! pleasure she would take in detailing the
| shameful story to him She would safe her
hate in his misery. But what if it were not
a shameful story? Still he could not form his
lips to ask. The humiliation of such ques-
ton from him, discarded lover, about her
ss whose feet he had been proud to sit
shocked him into silence. He even dreaded
lest they might speak to him of her, although
| 1t had been months since he had heard Ber-
thaS name once breathed
| One evening at the very close of the winter.
| Philip Breton called meeting of his help.
and the old market hall was packed from
door to platform. Reporters were planted
| by their tables, to catch every word of the
mysterious proceedings. Representatives
| from all the factories in the country elbowed
| the crowd for their three feet of standing
room, eager to learn some new device for
making money out of their help as good as
the other. But the great audience was
strangely silent. 1t knew not what to ex-
/ DaVl1D tha
was going to announce a new reduction in
thoir wages; everybody said he was reducing
everywhere. The feeling in their hearts was
IAore of fear than hope, and it was look of
! piteous terror, almost, that they cast at the
slight form in black, that came forward on
! the platform. They reminded Philip of a
dock of frightened sheep that had never had
o shepherd. Then he thought of q great
! army massed before the smoking cannon
mouth an army that had never had a gem
oral He saw they feared him.
Il have been for long time trying to think
of some way to make your lives more fair for
you, and yet be fair to myself and my class
have been cutting ON expenses to make the
whole business machinery as economical as
knew. Now at last | am ready to take you
into my confidence and make you proposal
There was stir in the great audience, as if
every man changed his position at the same
moment, SO as to be sure not to lose one
precious word of the new gospel
81 cannot feel that l ought to give you
anything. And l cannot see that it would be
reasonable to pay more wages than others
pay; that is, than you have now.n
A hush had fallen upon the people like
death. There was no hope for them, then.
Still the speaker went on.
"But if your labor is profitable to me- so
that | can pay you your price, and pay my
other expenses, and pay me for the time |
| give to the business what such service as do
| Is paid elsewhere, and then have something
| besidesn-
The reporters dropped their pens in aston
ment; was the man mad9
81 am disposed to think that you have
earned share in it." He paused to catch
his breath, and one could have heard pin
fall in that crowded room. my capital
should be allowed for too. In word, pro-
pose to divide the profits of my mill, after
all expenses are paid, into two equal parts
hereafter, one for labor, yours and mine, and
one for the interest on my money. The part
which belongs to labor will be distributed
according TO the worth of each ones years
work The one that earns the largest years
pay will have the largest per cent of that
dividend We shall all be stockholders
together, each with a share large or small ac-
cording TO the value of his work.
The building trembled with the roar of ap-
plause that went up, and it was several mo
ments before Philip could make himself
heard again. He had thought there was
nothing left in his life, with love gone out of
it, but as he stood that moment with the glad
shouts of the poor ringing in his ears, and felt
ta had led them out of bondage, his heart
shrilled with proud joy that was almost
ectasy His wealth had brought him hap
piness that made even a life like his worth
living, had conferred on him a glorious
sense of the dignity of manhood which lifted
him as on wings
They must listen while he explained the
terms of his plan more fully He motioned
to a dozen boys and took a printed sheet OF
paper from the pile of similar sheets which
he ordered distributed among the workmen.
He then read aloud the following from the
paper in his hand:
The first divided win be distributed Aug.
for the year euiing July l. The surplus is
$500, 900: 500 900 is set apart as the allow
ance for capitfi invested, which leaves $780,
900, to be distributed to the labor in proper
ton to the wages or salary earned by each.
The whole amount of wages and salaries
earned III lue lIlllS WIS dDOiJ @t5o1vOV' iitD.t
fore the rate per cent. of dividend is about
81 7-10 to be calculated on the wages or salary
Of each man, woman and child as shown by
the paynaster's book for the past year. For
example, the man whom the pay roll shows
to have earned $500 for his years work,
viii receive n 7-10 per cent. on $500 in adj
dition. or about $3.50 as his dividend.
The payrnaster, who received salary
Of $4,000, viii receive about SOFA
and as manager worth a salary Of $1,000
/ shall receive more than twice the dividend
Of the paymaster. Certain restrictions will
be imposed First, only one-half of the an
pual dividend win be in cash, for it
would hurt the interests OF the mill
to withdraw SO much from the bush
ness. The other half will be in stock,