The diamond drill. (Crystal Falls, Iron County, Mich.) 1887-1996, 1901-01-19


IA Force bv ths 6. a NV. Railroad.
The c. & NV. railroad Is celebrates
for being ono. oi the most progressive
lllncs'in The United States, Not only i
lis management perfect asiar as iinan
cial matters are concerned but i
IL ever on the alert for i'm
proved methods aud systems and foI
the advancement oI the character and
efficiency Of It's employees. One oi The
latest departures 10 It's relation with III
smployes Is the establishing OF u pension
system whereby the man who has giver
his life TO the road will be provided foI
in his old age and the young man enter
ing It's employ may have something "a
look forward 70 as n reward FOR faithful
service.
| Many outlines have been given of this
system but the following taken from the
Iron Port and given that paper by an
official high in the councils OF the road
imay DO taken as authentic;
"Oi the employees in the SER
Twice Of the company. the following
clatses only are affected: All employees
who attained the nRc OF seventy years,
and who have been thirty yeurs ia the
service. shall bc retired and .pcnsioned
provided. however. that this clause shall
not be mandatory in it's application To
executive officers appointed by the
bourd OF directors ;alI employees sixty
| five 10 sixty-nine years OF age, inclusive
OF both years. who hive been thirty or
more years iu tile service, and who have
been incapacitatea, may be retired and
psnsioned.s
The monthly allowance paid each per-
son pcnsioned shall be upon the follow
ing basis: For each year OF service
thirty or more--one per cent per month
II his average monthly pay for the ten
years next preceding his retirement.
The total amovnt 10 be set aside, for
pensions shall not, however. exceed
5000 900 per annum, and should this
result at the present rate. a reduction
will I've made sufficient to bring it within
the limit. In order to make the conli-
tions more explicit ths following ex-
ample is given: II nn employe is retired
after just 30 years ofservice and has
earned on nn average 81 $50 per month
Tor the last ten years OF service. be will
bc entitled to monthly allowance oi
30 per cent Of $50, or $15, II he has
worked 30 years at an average pay Of
$50 per month Tor the last ten years no
would get 35 per cent oil $50. or S21
per month, and SO on.
The term "service" used in he PENSION
circular npplies only to those who have
given all their time to the service OF the
company. Employees OF tho railroads
owned or controlled by the c. & N. w.
shall be treated as employees OF the pnr-
ent company, and the term Of service
for such employees shall include the time
.hey have been employed by the com
pany even before IL became part OF the
G. & N. w. system. Length OF service
shall he reckoncd from the date of entry
to that OF retirement. all intermediate
timc, out OF the service. TO be d Quoted.
The acceptance Ola pension shall not
debar any retired employe from engag.
ing in other business not preiudiciil to
the interests OF the company.
4 No person over thirty-tive 80 rs OF nge
shall hereafter be taken into the eervice
oi the co,npun,; provided, however,
that in the discretion OF the president
persons may he temporarily taken into
the service. irrespective OF age, for.
period not exceeding six months, and
that this period may be extended,
II necessary, 10 complete the work for
which such person was originally en-
ployed.
The company expressly reserves the
right and privilege to discharge, at any
time, any officer, agent or employe,
when the interests of the company, in
it's Judgment, mny SCI require, without
liability Tor any claim for pension or
other allowance other than salary or
wages due and unpaid. The pension
system is in charge 81 "A board OF five,
appointed from the officials Of the com
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