The Saint Paul globe., 1901-03-19
FAVOR THEIR employees.
The National Biscuit Company Offers
Them Preferred stock.

Them Preferred stock.
The following letter issued by the board
of directors to the employees of the Ma
tional Biscuit Co., giving them an OPP
portunity to buy the stock of the COM
pany will prove of considerable interest
to workingmen throughout the United
States:
Chicago, Feb 21st, 1901.
To Employees of National Biscuit Com
pany:
The Directors of the Company, desiring
to supplement the interest in its welfare
already shown by its employees, have au-
thorized the following offer to assist en-
ployes in investing their savings in the
Company's Preferred Stock.
Any employe who wishes to buy one
share of Preferred Stock, to be paid for In
fnstallments, at price which will be quot
ed about twice each month, can make ap-
plication to do so to the manager of the
plant with which the employe is connect
ed, on blank provided for this purpose,
which can be had from the manager The
first partial payment toward the stock
must accompany the application, partial
payments to be in amounts of five (S500)
dollars or multiple thereof The man
ager to whom partial payments are made
will receipt for each payment to the en-
ploye An account will be opened with
the employe on the books of the Company
at it's General Offices in Chicago, and all
partial payments made against the pur-
chase of the share of stock referred to
will be credited 20 this account Interest
will be allowed to the employe by the
Company on each partial payment at rate
of per cent per annum dating from the
first of the month after it is made. AS
soon as the employe shall make full pay
ment for the share of stock, it will be
transferred in the name of the employe
on the books of the Company and the
stock certificate delivered to him or her,
without any additional expense, after
which any dividends declared on such
stock will be paid to the employe, who
then has vote at the meetings of stock
holders of the Company Any dividends
which shall have accrued on the share
Of stock between the time it has been
bought by the Company and the date on
Which 1t is transferred to the employe,
will be given to the employe when he
or she makes full payment for it, less in
tereSt at the rate of per cent per an
mum on the amount the Company has
paid for the share, this interest to be
computed from the date of application
from the employe for the requirement of
the share to the time when it has been
transferred to him or her. 1t is under
stood that the employe does not become
the owner of the share of stock pur-
chased until 1t is paid for in full. Should
the employe allow six consecutive months
to elapse without making any partial
payment, interest will cease to accrue,
and the sum to the credit of the ac-
count will be returned to him or her
upon application therefor. Should full
payment for the share of stock in ques-
tion not be made by the employe within
two years after the application is re-
ceiVed, the Company reserves the right
to cancel the arrangement by returning
to the employe the amount he or she has
already paid in, with accrued interest
Employees making payments on the fore
going plan and for any reason desiring
to discontinue them may have their
money returned, with accrued interest
by making application to the manager
by whom they are employee. In case an
employe leaves the employ of the Com
pany for any cause, he or she must then
pay up in full for the share which has
been subscribed for and receive a certif-
icate therefor. or take the money stand
ing to his or her account, with accrued
interest