Waterbury Democrat., 1903-01-01
TO'SHARElN PROFITS
Steel Trust $ Announcement
 to Employees.
WORKMAN MAY BE 4 sTOcKHoLDER
Every Man on Pay Rolls of the Great I Corporation ,s Invited to ;Partici- pate Nm the Surplus Earn-
 ings of the Company.

NEW YORK, Jan. 1.-In a double circular, one to the stockholders and the other to the officers and employees, the United States Steel corporation an noltnces it's intention to inaugurate a system whereby the humbIest, work man on it's rolls may if he desires be come a permanent stockholder and sharer in the profits of the corporation. .lT1e scheme is the result of months of preparation by the: finance commit tee of the corporation, and the circu- lars are signed by George w. Perkins, chairman. The plan is said to have. originated with MT. Perkins. f .
 The circular to the stockholders points out the apparent advantage of the plan. which was devised with equal fairness to every man, from the, president of the Steel corporation itself to the man with pick and shovel work ing for one of the subsidiary compa-. nies. The circular goesaon to say that. at this Ftime there are about 55, ,000 stockholders, who; it is believed, would feel a: greater sense of security in the corporations eauning power. if they knew that officers and managers gener- ally were willing to enter into con- tract by which part of their compensa- tion were paid after the realization of $SO,OOO,OOO of profits. This represents interest on bonds, dividends on stocks and reserve for sinking funds. fl,4
 The plan inviting officers and en- Sployees to participate isat1ivided into two parts. Part I prescribes that from the earnings of the corporation during the year 1902 there will have been set aside at least s2,O00,oO0 and as much more as is ne for the pur- chase of at least 25,0t ares of pre- ferred stock, which wi. offered as follows to employees of the corporation and constituent companies:
 At present the corporation and sub- sidiary companies employ about 16S,- 900 men, whom it is proposed to divide into these classes:
 Glass A will include all those who receive salaries of $2o,o0o year or over.
 Class B will include all those who re- ceive salaries of from $1O,OO0 to $2O,- 600 year. tsss7 hss4 .e4
 Glass 0 viii include all those w6o re- ceive salaries of from S5Ooo to'$10.ooo a year. 5Tt& f'
 Glass D will include all those who re- ceive salaries of from $2,5eO to $5,o0O a year.
 Class E will include all those who re- cefve salaries of from $500 to $2,5OO a year. N NY N Sffss sl'ifs x XII
 Class F will include all those who re ceiye salaries of $500 a. year or less
 The preferred stock win be ofrered to any employed during January at $s2.O per share. It's, closing price yesterday was $s5.s71a p'3F 'fsss Essy''.>''9a affS7fs1fTo
 Employees can subscribe sfor saf. amount of stock not exceeding the sum represented by a certain percentage of their annual salaries, as shown in this table: as NY N ssasAsfssa fss} M a@ta
 Glass BIS per cent; class c, 10 per cent; class ID, -12 per cent: class B, I5 per cent; class F, 20 percent. < ast
 Tn part 2 Of the plan it is explained that. the corporation has been and is now making changes in the salariesof men occupying official or semioficial positions and gives the recommends tions of. the finance committee, which the directors have approved