New-York tribune., 1903-05-08

works were reported In financial trouble. Your
You Know too well, gentlemen. how the path q, 9I
iron and steel is strewn with financial loss ~ en- IN
counter great risks. Scarcely week passes dn wiaa
trial world. Thus il has ever been. ana 5 esei '-
be. while human nature remains unchangeq4- el,ine
the workingman TO risk his precious savings IN n
the manufacturing any form of business W., Was fe
WAYS discarded by too dangerous Tor nllll' @ ii
was advised to buy home instead, ahd SAY ko,nes
Tent lent TO 70 faea @ an6oT Tes WIN" hd the ground clear
of debt Their savings up to S20oo each WeIt md
entirely separate from the business Interest at
per cent allowed to encourage the h " VI F,nde
to part of his earnings for old ag reaI prop-
received were lent upon mortgage ON Isd R,;iI5
erty. generally to such workmen as tbe safest
homes 1t believed that this wa ss ,,ings which
and therefore the wisest use OF theH SAVINGS
workmen could take.
THE STEEL CORPORATIONS PLAN.
The most convincing proof of the STEADY mapon Ic
of labor to recompense more and more; paSu | bor
into the peacefuI bonds Of mutualty is TO be CRED
ited to the United States steei Soi cd for which
il deserves unstinted praise: as proving ggnur f
its own. To this step toward profit sharing in
vite your attention for II may t Wen in fhe
history Of the relations of capital and labor
may even be looked back 70 ,taon se n of most of
the troublesome questions between theth, so ,,pon
There Is another point Of view the inhueilce upon
the r,ianf y,orkmsn of distracting anxiety in re-
gard to the absolute safety OF Wfat inas ,Tring ~
The Stock Exchange quotations for the Amer1caia
workman reads the papers Only recently ne u Mou1e
have seen the preferred stock OF the Inlteu i
Steel Cornoration temporarily quoted lower tnstIt
The nrire charged for 1t to him. This may Iheal ~
little 10 the man of affairs familiar win lhe p ups
and downs OF the mercurial Stock ENchansse. - ~
what must he the effect upon the ulhiorleu W.
ma1a Of this am well assured. the WorhIilall Wor
whose thoughts are upon the speculative
ot the Exchan nge will not prove deSiraole. opeG;ulf
fion ie the naraste of business feedlhg upon
craa t;nr none and is wholly Incompatible WIN Ie
Glory Performance of other regular WoIh re-
1,,;ri,r constant care and caution. me Worhinan
inyestnent should never be at rIsh, VI. ~ ,,nof
+boupbts are upon the Stock Excnange Y;, t
he Inon the machinery, ana nlachnttS; infr,art
iaoIoI,S mistress, broOk1ng no f1NSi SioAAAio
TO its absorbing demands .,oeo-a nc 1peII
Ia tba interest OF the employer, therelore as W.
r +bat of The workman. the savings OF the tdtte
ebo,id he secure here. in other respects tie
;rterest is mutual and hence believe tne HeeQS E 4
cbanpe will be made by the Steel corpora az
yaar futIIre cannot speak too hgtliy U. lilis Icb
erianca nor give the Steel Corporation too a.
credit for making il, since 1t is declaIe4 an,
tbe arnerimenfa stage. and subject 10 Iu'uIe M
movement as all new schemes shoulo pc ~ go.
,,d TroPressiye author, Mr. Perkins, is TO 6e Hesi
lily congratulated ....os ,,,,,ch too sanguine
n +hic forecast which. doubt VIII tahe eIl4te -
aaii1s fI,t as the result OF my experience l1l 81
convinced that the huge com b1natlof anu ueot;tior
ndarate cornorati has chance IN com
,tb +be partnership which embraces the pFillCipe4
officials and has adopted the System FN'
Nv bonIis or reward throughout its WORKS