Burlington weekly free press. [volume] (Burlington, Vt.) 1866-1928, 1905-05-11

S179, 1858 we're sales to employees of the
company, ana the balance $7l,9O3.73 were
sales to non-employees. The profit from
the business of the three stores inClu-
ding both its sales to employees and non
employees were for the same period $751;
296 or ga per cent. on their entire sales.
That gave tho employees trading at the
Proctor store a dividend OF ten per
cent. an average dividend to employees
OF over nine per cent. These dividends
we're paid 70 the employees in January,
1?cl, by bank check.
Turing the year 1904 the total saics
at the three stores for the whole year
were sos, $3.50. Of which 1900, 292S7 was
to employees OF the company. and the
balance or Sl1S,37653 was to ron-em-
rloyees. The profits OF the stores were
fer the year S27,3Si.A of 81 per cent.
upon their total sales, which gave
dividend to the employees at the Proc
tor store Of ten per cent. ON the amount
Of their purchases. to those at Center
Rutland nine per cent, and to those at
West Rutland seven per cent. an aver
ege Of over nine per-; and these divi-
dcnds were paid to the employees in
cash in the month of January, 1907. With
The dividend there has been delivered
10th years to each trading employee a
printed statement, signed by the re-
spcctive committees. showing the details
OF the business done and the settlement
Of the same. with the amount OF his
Purchases and dividend filled in
Under tho present ARRANGEMENT the
employees receive their goods at less
than their original costs plus their pro-
PORTION of the exncnse of the stores,
as they got back not only the profit on
thcio own goods but the profit on sales
| made to employees. The total vol
| u,ne Of business for the year 1903 was
SEES, coz IS ard for the year 1901, s4Os. GSs9o
Some Of this difference is probably due
tn a normal growth in the business Of
| The stores. but a part of it ut least is
presumably due to its cooperative fca-
ture. The employees appreciate very
much the present method of conducting
the stores. Indeed it is doubtful If any
81 the many schemes Of industrial bet
terment which the Vermont Marble Co.
has undertaken in behalf Of its EN-
rloyecs has in proportion to its size
given them more satisfaction.
| The company retains no financial in
tcrcst whatever in the Profits OF the
stores. During the year the expense of
salaries. merchandise. etc. fer each
store is charged as paid TO that store.
and in the settlement at the end of the
year tho company is credited rent for
| the store buildings and four per cent.
interest upon the capital actually invest
cd in the busns ss. Beyond that it re-
coives nothing either for superintendent
or otherwise This of course eliminates
any pc ssble selfish interest in having
the employees trade at tho store or any
ground of suspicion that the company
might have such IN interest or desire
1t is to be noticed that under this
arrangement the cmplo, ees hav. the
entire profits but run no risk witt, r.
spect TO losses. The company assumes
entire responsibility for the losses, il
any. hut is in a position to save the
stores from that result by virtue of re-
tanning their management AMI direction
That Of itself would be sufficient justi
fication for retaining the management
although perhaps a moee potent reason
is that the company through its tinan
cal resources and its executive orga MIA
ton is better able to run the stores sue
c+ssfullH than airy purely voluntary as
sncation among the woikmen wculd be
Tho only complain. or criticism which
has come to the company so far in con
nccton with the general scheme hal
arisen out of the fact that one of tn
stores. which the H,st year paid it,
trading employees a dividend of hin,
per cent. was only able to pay Il dvi
dcnd las. year of seven per cent Tha
decrease in dividend was the occasion
OF some criticism on the Fart of a few
1
/ consider thai dividends depend upol
, varying considerations. 1t offers IL
own commentary upon what the result
, would be il employees were possible
, sharcrs if that were practicable not onl.
~ the dirdcnds but of the losses.
1t would usually be unnecessary. AM