The Indianapolis journal. [volume] (Indianapolis [Ind.]) 1867-1904, 1903-01-02
THE STEEL TRUSTS NOVEL
PROPOSITION.

The announcement which the United
States Steel Corporation makes of its plan
for proft-sharing with it's army of en-
ployes is the most remarkable proposition
of the kind ever made. The plan of profit
sharing has been tried by several small cor
porations, usually with success, but this is
the first time that a corporation employing
an army of men larger than was ever as
sembled for a campaign has announced a
distinct plan and made public proposition
TO divide a portion of it's profits among
those in its employ. IL is a proposition to
add to It's 5000 shareholders 10000 men to
share, in proportion to their annual earn
ings, definite portion of the profits of the
immense business. provided they remain in
the employment of the corporation for five
years. Mr.. Carnegie contemplated such
scheme when he was the head OF a portion
of the plants constituting the ''billion dollar
trust" and doubtless the present PROPOSE
ton is the working out of the details of
his idea and putting 1t into active opera
ton.
No one will assume that this offer is in
spired by purely philanthropic motives. In
deed, it may be assumed that the scheme
is dictated largely by personal and
economic considerations. Men who have
shown the highest capacity for the sue
cessful management OF vast industrial af
fairs have come to the conclusion that it
is for the interest of the greatest corpora
ton in the world to give every man en-
ployed by it interest in Its success
The managers of that corporation have al
ready learned that the best skill and the
best service can be secured by paying the
highest wages ever paid in the iron in
dustry. They have now come to the con-
clusion that still better economic results
can be obtained by adopting plan which
will insure to all employed lifelong en-
ployment by giving them share of the
profits. The managers see that by making
every man a small shareholder he will
have a personal interest in seeing that
nothing is wasted. 1t means that the man
ayers desire to avoid strikes and other in
terruptions. which are more disastrous to
mammoth business than to smaller ones, by
ia'eAAAAAe sAiN S'hRioySS ShoiShS Al thS piohto
of the enterprise.
The billion-dollar steel trust, concerning
which the public has had so many serious
apprehensions and regarding the purpose
| of which SO many warnings have been ut
| tered, has given the world number of sur
| prises. Instead of cutting wages, as was
predicted in some quarters. the corporation
has advanced wages twice; instead of using
| its position to push the prices of iron and
| steel to the highest figure. its influence has
been to keep prices down below those
| which independent companies desired to
| make under the temptation of a demand
in excess of supply. 1t has already recog-
nized the faithful service of old employees
| by a gift of stock, and now 1t proposes to
make all who are in the employ of the corr
poration a term of years sharers of the
| profits.
| 1t may seem impossible that this scheme
| will be criticised and condemned, never
| theless 1t is likely that it will be de-
nounced by those who would keep labor
and capital two distinct forces in produc-
ton. Most people. however. will be inter
ested in watching the experiment of max
ing an army of employees sharers of a cor
| poration's profits.