The Montgomery advertiser., 1908-01-26
NEW YORK WORLDS CNL Y
BILLION DOLLAR CITY.

| n 4
ocean travel u at low ebb. It is safe
across the Atlantic begins the war will
be over with rates back at their old
| park and that all will be peace and
| serenity among the rival lines.
| 1t is only when there are few bones
| to pick that the companies begin quar-
reling over them.
The greatest profit sharing plan ever
| tried I'm this country. that OF the Uni
| ted States Steel Corporation, is de-
| clared a success by George w. Per-
kins who projected 1t and who is chair
| man of the finance COMMITTEES OF the
| big steel company. On the first OF
| the year the plan had been In opera
| ton FIVE years and up to that time
| over sie,ooo.o00 had been distributed
1 to employees. This amount was larger
| than even those who projected the
| plan had anticipated due to the very
| large earnings OF the company, par
ticuiarly during the past two years.
Mr.. Perkins says that 100000 ems
ployes of the corporation have become
| Investors In its stock securing 1t on
such terms that when fully paid up
II has cost them only about half the
present market price. The main pur-
pose OF the plan which was to secure
the interest and loyal service of the
u
been accomplished for the company
has expanded its business tremendous
ly and has had practically no labor
troubles.
'Humanizing corporation" is What
Mr.. Perkins calls his process ana he
describes its various features at length
in an article which. Is to appear in
the February number of Appleton's
Magazine.
There is approximately $4,000 part
ners" in the Steel Corporation now,
according to Mr.. Perkins, leach one
Of whom Is a worker In the cause"
IT is announced that New York's
magnificent new public library will be
finished within the next three years.
1t Is so long since work on this
structure was begun that most New
Workers. had ceased to think about
the possibility of ever seeing the I'M
terror of the completed building. Mo-
body VIII begrudge the time spent on
II, however. for 1t is one OF the few
really fine public buildings in the city
and occupies better site than any of
the others covering two blocks on
Fifth avenue between Fortieth and
Forty Second streets.
Almost $4,000 900 has been spent on
the building thus far not counting
the value of the site, and something
more than 100000 Will be required
to complete IT. The. building will con-
tain 500 r0oms and the bookshelves. IL
placed end to end, would extend sixty
three miles.
Over 10000 tons OF marble have been
used In the building. In floor space
1t will surpass even the great Congress
sional Library in Washington.
Figures made public as a result of
the statement called for to show the
condition OF New Yorf's financial i'm
stiautions tell the astounding fact that
32SS. 900, 900 was drawn out of only
thirty-ive OF the iargesr trust COM
panies in Manhattan.
Perhaps IL Is more astonishing still
that none of these Institutions were
forced to close their doors and as all
of them are in good condition nov
the fact that they were able to with
stand this tremendous drain is regard
ed lie best evidence Of the essential
soundness of the trust companies.
A great many financial experts have
been trying to answer the question Of
where this huge sum OF money--thr
total counting all financial institutions
OF the Greater City must have been
far above the figure named--has gone !,
Some OF it went into other banks, par
tfcularly the savings banks, but
large share must be held still in safe
deposit vaults ana family strong boxes.
Longacre.