The age-herald., 1901-03-31
COOPERATION.
Employees of National Biscuit Company
 Invited to Become Stockholders.

Chicago. February H. 1901. To Employees of National Biscuit Compa-
 ny:
 The directors of the company, desiring to supplement the interest in it's welfare already shown by its employees, have au- thoriEed the following offer to assist em- ployes in investing their savings in the company's preferred etock:
 Any employe who wishes to buy one share of preferred stock, to be paid for in installments, at price which will be quoted about twice each month, can make application to do so to the manager of the plant with which the employe Is con nected. on blank provided for this pur- pose, which can be had from the mana ger. The first partial payment toward the stock must accompany the applica- ton, partial payments to be in amounts of five $500 dollars or multiple thereof. The manager to whom partial payments are made will receiptfor each payment to the employe. An account will be open ed with the employe on the books of the company at its general offices in Chicago, and all partial payments made against the purchase of the share of stock re- ferred to will be credited to 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 1t Is made. AS soon as the employe shall make full payment for the share of stock. it will be transferred in the name of the em- ploye 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 it is transferred to the em- ploye, will be given to the employe when he or she makes full payment for it. less interest at the rate of per cent per an- mum on the amount the company has paid for the share, this interest to be com puted from the date of application from the employe for the requirement. of the share to the time when 1t has been trans ferred to him or her. It is understood that the employe does not become the owner of the share of stock purchased until it Is paid 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 cred 1t of the account will be returned to him or her upon application therefor. Should full payment for the share of stock in question not be made by the employe within two years after the application is received, the company reserves tn right to cancel the arrangement by returning to the employe the amount he or she hos 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 mak- ing application to the manager by whom they are employed Tn case an employe leaves the employ of the company for any cause, he or she must then pay up in full for the share which has been sub scribed for and receive a certificate therefore, or take the money standing to his or her account with accrued inter- est
 The foregoing does not preclude the purchase of stock for cash by employees through tn general offices at Chicago. An employe who has not already an outstand- ing application for a share of stock on the installment plan which Is not fully paid for can at any time make applica- ton for one or more shares of stock, not to exceed five, for cash. The price of the stock will be furnished by mail or wire upon application from the local manager, so the exact payment can accompany the application. The company will pay all expenses connected with cash purchases of stock of this nature TOT employees up to five shares, but reserves the right to discontinue this part of the arrangement at any time.
 The managers of our various plants and selling agencies will furnish detailed in formation in regard to the foregoing plan or answer any questions concerning 1t when they are asked to do so. Of the preferred stock of the company there is now $23. .S25. 100 outstanding. owned by 24s2 persons. more than 1000 of whom are women. This stock has paid for the past three years, and Is now paying, dividends at the rate of per cent per annum, or 1% per cent every three months. The market value at the present time is about s92. 50 per share The onfcers, directors. managers and ex-managers of the plants and their families own over u0, 100000 of this stock, It is the earnest desire of the officers and directors of the company to have every employe associated with them in the ownership of the business. that there may a community of interest exist ing between all persons connected with the active work of the company. from the chairman of its board of directors to the youngest man or woman on Its pay rols
 Yours very truly, A W. GREEN,
 Chairman Roard of Dfrectors