New-York tribune. [volume] (New York [N.Y.]) 1866-1924, 1897-07-09
PROFIT-SHARING NAY CEASE.
THE EXPERIMENT AT THE BOURNE MILLS IN
FALL RIVER. NOT ALTOGETHER


FALL RIVER NOT ALTOGETHER
SATISFACTORY.
Fall River Mass, July S.-George Chace, treas
urer OF the Bourne Mills, In letter just issued to
the employees Of that corporation. strongly init
mates that at the next meeting Of the directors 1t
will be decided to discontinue profit sharing. The
Bourne Mills apparent success In proht-sharng mas
attracted wide attention. 1t was strictly business
matter, designed to secure for the mills better
and more permanent class OF help and the same at
tention to the interests OF the corporation that
proprietor would be expected to give his own In
vestments The first trial was limited to six
months beginning July I, 1889 The conservative
Board of Directors only ventured to pass on
twelve months term OF proht-sharing after seven
trials OF six months terms.
1T will be brought before new Board OF d.
rectors in November next" says Mr.. Chace, land
doubtless their decision will depend upon what sort
OF record we make between now and then. Per-
sonay favor the continuance Of proht-sharing
so long as 1t can be made mutual benefit. There
Is some disadvantage to short-term proft-sharing.
II II had been known at the start that the project
would be continued eight years 1t might have been
wiser to have planned scheme TO cover the whole
period and thus have saved for you large
dividend which you would receive at the end OF the
period: that believe, is the most improved
method OF profit sharing from the employers stand
point"
Mr.. Chace goes on to show that II this plan had
been adopted, based on the actual number OF divi-
dends and the per cent, any operative who had
earned on an average 500 every six months OF the
eight years would be receiving lump sum
OF $5i. The average wages paid at the Bourne
probably run something over twice that amount
While the dividends ranged annually from ON
Pr per cent the highest was OF per cent, ana the
average for sixteen dividends was $3.50 per cent
During the last eight years the loss through stop
pings OF the mills OF Fall River for all causes has
been more than IS 100000 without reckoning the
loss OF profits. More than half Of this has been
lost to the employees through their wages; Mean
time in the Bourne in the same time TOR an causes
OF stoppages, the employees have lost put per
cent of the full maximum working time.
Thus far" says Mr.. Chace, the RECORDS nave
seemed to indicate that no mistake has been MADE.
The plan may be abandoned at the end or the
next six months, or Il may be continued FOR years
to come; all depends on the results OF the next SIX
months. Unless proft-sharing promotes Rront max
ing no hope TO keep 1t up The hgures
and details showing why we think 1t has been
profitable upon the whole the last eight years pc
long, OF course the Board OF Directors alone.
Some advantages to the company come under the
form Of better discipline. punctuality, care OF
machinery, cleanliness, economy or waste taklns
an interest in the success of the Bourne NILS ana
the spirit OF cooperation which have characterzen
your behavior to such degree as to lead 10 the
continuance Of profit sharing up to this time.
No other attempt at profit sharing mas peen COM
Quoted purely on business lines, as the Bourne
has been and II II Is decided to cease the snarihg
now II will be severe blow TO advocates Oh the
general adoption Of systems OF profit-sharing