The Billings gazette. [volume] (Billings, Mont.) 1896-1919, 1903-01-06
say that at this time there are about

say that at this time there are about
$4,000 stockholders who, it is believed,
would feel a greater N Of security
in the corporations earning power If
they knew that officers and managers
generally were willing to enter into
a contract by which part of their com
pensation for services rendered shall
be paid only after the realization OF
~$SO,000.OOO of profits. This represents
interest on bonds, dividends o. stocks
and reserve for sinking fund.
The plan inviting officers and en-
ployes to participate is divided into
two parts. Part N prescribes that
from the earnings of the corporation
during the veal 1902 there will have
been set aside at least 1000, 900, and
as much more as is needed, for the
purchase of at least 100000 shares of
preferred stock, which will be offered
as follows to employees of the corpora
ton and constituent companies:
At present the corporation and
subsidiary companies employ about
10000 men, whom it is proposed to
divide into these six classes:
Glass A will include all those who
receive salaries Of $780, 900 a year or
more.
Glass B will include all those who
receive salaries from $4,000 to $780,
900 a year.
Glass G will include all those who
receive salaries from $4,000 to $780,
600 a year.
Glass D will include all those who
receive salaries from $500 to $4,000
a year.
Glass E will include all those who
receive salaries from $500 to $500
a year.
Glass Il will include all those who
receive salaries of $500 a yea or less.
The preferred stock will be offered
to any employee during January at
$3.50 per share. It's closing price
Dec. 81 was $85.87h.
EllpuDyC S CdA SuUSCl1Oc " 0l
amount of stock not exceeding the
sum represented by a certain percent
age of their annual salaries as shown
in this table:
Glass B., s per cent; class C, 10
per cent; class D, IL per cent; class
e, Is per cent; class F, 20 per cent.
In part two of the plan it is explain
ed that the corporation has been
and is now making changes in the
salaries of men occupying official and
semi-oficial positions, and the direc-
tors have approved these recommen-
dations of the finance committee:
Whenever $4,000, 600 and less than
$50, O0O, 900 is earned in 1908, l per
cent shall be set aside.
Whenever $50, 900 900 and less than
500, 600, 900 is earned during 1903, IL
per cent shall be set aside.
Whenever 500, 0OO, 900 and less
than $4,000, 900 is earned during
1903, IA per cent shall be set aside.
Whenever $11O,0 OO, 900 and less
than $12O,O00, 900 is earned during
1903, 1.6 per cent shall be set aside.
Whenever $12O, 600, 900 and less
than $3.50, OO0, 900 is earned during
1908, rs per cent shall be set aside.
Whenever $3.50, 900 900 and less
than s140, OO0, 900 is earned during
1903, 2 per cent shall be set aside.
Whenever $40, 0O0, 900 and less
than $3.50, 10000, 900 is earned during
1908, "a per cent shall be set aside.
Whenever $3.50, O00, 900 and less
than $16O,000 900 is earned during
1903, ~ per cen shall be set aside.
The question of what constitutes :
profits is to be determined entirely by
the finance committee. who, it is stat
ed. will have no interest in the profit
sharing plan. If $780, 100000 is earned
in the coming year, 100000 will be
set aside, one-half to be distributed
in cash quarterly, the other half to
be reserved until the end of the year
and invested in preferred stock, the
StOck THUS pufcHdSeu " We ulsiuou'
one-half to employees entitled thereto,
the other half to remain with the
treasurer of the corporation.
Each shareholder is to receive a
certificate for his interest containing
these provisions:
First. That If he remains continu-
ously in the service of the corporation
or of one or another of it's subsidiary
companies for five years the stock
shall be delivered to him and he may
do as he likes with it.
Coaond yHhat If ho dies or Incomes