The Mitchell capital. (Mitchell, Dakota [S.D.]) 1879-1918, 1894-08-31
PULLMAN'S KINDNESS.
President of the Palace Car Company
Enlightens the Strike Com
mission
AS TO HIS GREAT GOODNESS.
Lost a Little on Contracts, But Man.
aged to Squeeze Through Without
Cutting Dividends.

man was before the labor commission
for nearly three hours during the after
noon. Vice President Wickes, who fol-
lowed his superior, occupied two hours
and will appear again.
At the outset of his testimony Mr..
Pullman made a careful preliminary
statement of his position toward the
commission and defining the motives
which had moved the company to estab-
lish it's manufacturing plant and homes
for workingmen as it had. In answer
to queries by Chairman Wright Mr..
Pullman told Of the contracts for work
undertaken by the company at loss in
order that the men might be kept at
work. He said:
Cup to the time of the strike we had
lost more than $5O, 1000 in pursuit of this
policy. I explained this personally to
the men when they were having their
conference. with Mr.. Wickes.''
Regarding Arbitration.
Answering Judge Worthington, Mr.
Pullman said he did not have charge of
detail work in connection with the
company's affairs, but that he was
president and received the reports of
other officers. The judge asked:
GAS to this reported declaration of
yours that you had nothing to arbitrate,
were you correctly reported"
ST have already explained my views
on that subject. They are contained
in the printed statement submitted u
referring to the printed interviews pub
lished during the progress Of the strike
During the questioning Judge Worth.
ington brought out the fact that the
company's original capital stock o1
$1,OOO,OO0 in 1867
Had Increased to a36,OOO,OOO;
that the company had paid dividends
of 10 per cent during the first two years
Of its organization, 81 per cent during
the next two years and per cent annu
ally since and at the same time had &C
cumulated surplus amounting to $25,
100000 He also elected the statement
that the stock Of the Pullman Land as
sociation was entirely in the possession
Of the Pullman Palace Car company
having been acquired gradually by th,
investment of the Car company's sur
plus earnings in the certificates of tn
Land association.
Recurring to the stock of the com
pany Mr.. Pullman said it represente,
actual cash paid by the stockholders, a
the capital was decided and the capita
stock was increased for the legitimat
business of the company. There wa
no "water" in it and none of it repre-
sented stock dividends.
Was Successful Year.
CHOW, Mr.. Pullman said Commits
, sioner Worthington, "taking the Who'll
, year through has the Pullman compan
, made or lost money!"
"It has made money!" was tn
answer.
) Commissioner Worthington continue
! the questions:
3 "You have paid your regular div
, dends?'
eyes, sir; s per cent"
3 s'That is something like So, 800, ,OC
you have paid out in dividends for til
year?"
"Yes, but that includes the latte
part of the worlds fair season, whic
= was exceptional.
"Let me ask you, Mr.. Pullman
whether you do not think a compan
that pays dividends of $2,s0O,OOO coul
not afford to share the losses of its en-
= ployes who have worked for it so long!
Couldn't Rob the Stockholders.
'The manufacturing business is Sc
p arate from the business Of the sleepi1
= car company. see no reason why
y should take the profits of the 49,
\ stockholders in the Pullman Sleepi1
Car company and pay men high
:. rate of wages than was paid by 9th
y companies for the same work. Becau
y we have been careful and accumulat
=. a surplus I do not see that it is reas,
!" we should take the surplus now al
pay it out for exceptionally hi,
wages"
w. "Has the Pullman company duri
Q Highest of all in Leavening /