The Wheeling daily intelligencer. [volume] (Wheeling, W. Va.) 1865-1903, 1900-06-26
A New Rnilrond Scheme.

0OlIlE yGhlS a6O bAG 4lllllSlS NNAANA at
Railroad Company held out induce
ments for their subordinate officers and
employees to buy stock in that company,
thereby enllstIng an interest in the COM
pany's welfare that could not otherwise
be attracted. It worked well up to a
certain point, when investment by en-
ptoyes ceased to be attractive. It APP
pears that when the stock had advanced
to above par the rank and file stopped
buying. They seemed to think that a
share of stock constituted an obligation
for 800 and to fail to grasp the fact
that 1t represented a proportionate in
.terest In n commercial venture. This
notion appeared to be so firmly fixed
that little effort has recently been made
to induce the employees to buy the stock.
Nevertheless there are now 733 share
holders OF that company among the en-
pEoyes and minor officers, and It is
something to have even that number
Interested In the prosperity Of the prop
erty.
AS the Illinois Central scheme was
not wholly satisfactory the Great
Northarn Railway hit upon another idea
that possesses more attractive features
than the Illinois Central. The Great
Northern scheme is designed TO enable
these investors to share in the prospect.
~ of the company without becoming
actual stockholders, To this end the
Great Northern EMPLOYEES Investment
Company, limited. was formed. This
companv subscribes for 10000 shares
(s1 OOO OOO> of the stock of the Great
Northern Mt mar. II then issues an I'm.
yestment certificate to the employe who
wisbes to invest These may be issued
in sums as low as $40 each and TO any
employe other than day laborers who
has bann for nj least thrne wears I'm the
continuous employmant OF thu company
and whose YEARLY wages do moi exceed
81 mo M Individual can subscribe for
an onount greater than $4,000 To the
holder of this investment certificate the
d,v,dnnds which NAV he declared on the
stock represented by that certificate
will be maid by the Investment Com
many In case the SUBSCRIPTION is made
NJ some time between dividend pay
mants interest at per cent a wear on
the onopnt of that spbscrIntion viii ba
mid from the date Of subscrIptiou IN TO
tbs t,mo n, ,bn Davment nr tI,a next
dIv,dond Furthermore In case a sub-
scrIh,r w,sbss IN Withdraw ba will opt
b,ck Tho face NJ his Investment ana
alan q mar cnnt nm thar Investment from
tho tim, n, tho last dividend navnnnt
10 IN. limo NJ w,thdrou,oI Eurtbor.
more ,ba 1nvpstmpnt Companv has the
r,gbt u emil IN and redeem these certiN-
ca,es n,v,rg tho 4 per cent interest for
odd narIoJs An tho pxpensa of TIM
noro,omort NJ this nntcrnrIsa Is born.
nv ,bn cro,t Nortbern Comnanv ON III,
,Soor,, IN, tho boraft which ,b,t rom.
nan,, viii d,r,vn from having ,ts on-
n,ovcs ana minor of1cers directly Intpr-
ssted n, the comnanv.s ,rasp, fl,y wi,
tustIfy mo coat nj ndroInist.ring the ON.
tnrDrlse
Tbe PoiIrood Gazette comments quite
,oyoroh,v nm the scbnno II no,nts out
",h,t ,ho Er,nIovos. Investment Com-
r,rv sIr,nIy holds tho shares IN trust
Co., tha nnrn,so y, rncoIvIng d,v,dends
ana ~ novIng thosr dIv,dends TO tho
hn,dors -, mo Tnvestm,nt Cnmponv's
nor,Inoo.os rboss cor,Igcates ,rn m,
osstgnohio Or tr.nsrerable e,tber obso-
,u'ely Ut US Seuu,,.s nc ~ 49,, W w, ",
investment cef''"e"te +" ""t "iN'e u"