Daily Kennebec journal. [microfilm reel] (Augusta, Me.) 1870-1975, 1903-05-08
. CARNEGIE SPEAKS.
Gives His Ideas on the Sharing OF
Profits.

London, May THE annual meeting
of the IRON and Steel institute mere 70
day, was largely attended. After oeihg
formally installed in the chair the new
president, Andrew Carnegie, VINO re-
marked that he was the first president
of the institute who WAS not Brltish
subject presented Sir James i>itSol' Il
former president of the institute. win
the BesSelner gold medal for 1913 MT.
Carnegie subsequently delivered MS m
augural address, which was listened 20
with much interest In the course OK
his address Mr.. Carnegie said:
The plan of rewards according to re-
suits FOR heads of departments, has al
ready become so general and IS spread
ing 50 last we may be sure IL mas
proved its efficiency There arc rev
large department stores or important
houses in retail trade which have not
been forced to adopt it.
This plan is probably bound to pre-
vail to a greater or less degrees in manu-
featuring concerns, and the sooner the
better, for the greater number of work.
ers capital can compensate ana in one
. 1iSe reward, by sharing its gains, the
more harmonious and therefore more
profitable for both must their relation
ship become.
i never see Il fishing fleet set sail
without pleasure, Thinking This is based
upon the form which is probably to
prevail generally. Not a man in the
boats is paid fixed wages; each gets his
share OF the profits. That seems to me
the ideal. 1t Would be most interest
ing if we could compare the results Of
| fleet SO manned and operated with
one in which men were paid fixed
wages, but | question whether such a
fleet as the latter exists. From my eX-
1criencc | should say a crew of en-
oloNes VS.. crew of partners would not
De in the race.
IN" great secret of success in bust
less of all kinds, and especially in
manufacturing, where a small saving
n each process means fortune, is d lib
eral division Of profits among the men
Nho hrlp to make them. and the wider
distributed the better. There lie latent
lh"uSnccted powers in willing men
Il 0und Us which only need appreciation
tnd development to produce surprising
results Money rewards alone will not,
loWCNCr, insure these, for to the most
cnSitiNc and ambitious natures there
must b" the note of sympathy, appre~
nation, friendship. Genius is sensitive
n all its forms, and it is unusual, not
ordinary, ability that tells even in
practical affairs. You must capture
md keep the heart of the original and
supremacy able man before his brain
an do its best. Indeed this law has no
limits. Even the mere laborcr becomes
more efficient as regard for his en-
ploEer grows. Hand service or head
service, it is heart service that counts.
"onc of the chief sources Of whatever
success may have attended the Carne-
gle steel Co. WAS undoubtedly it's policy
Jl making numerous partners from
among the ableSt of its men and in
lcfeStNS 50 many other of ability. I
strongly recommend this plan to the
MEMBERS Of the institute engaged in
business, believing that i'm these DAYS
II threatened cXhausting competition il
'lIl he the concerns which adopt this
plan, other things being equal, which
VIII survive and flourish"