New-York tribune., 1908-08-03
TRACTION PENSION FUND.
Whitridge Plans Establishing ProU'
dent Association of Employees.

II tho a1,plove. of the traction lines in New YORK
which are now under the charge of FREDERICK W.
wbitridse as receiver willing to do their
share Mr.. whtridge and the committee OF the
bonholders of the roads will establish prov1dent
association similar to the one formed some years
600 nv the employes of the Metropolitan system.
and to the one which formerly existed among the
Third avenue railroad company's employees
feature of Mr. Whitridge's plan ''to convince
the men in the employ of the Third avenue system
that they now have better JOB than they ever
had and that the will consequently endeavor
n convince us that we are getting better service
than we have ever received is to contribute from
tho funds of the companies under his charge an
amount in proportion to that given by the men
themselves this amount to be directly dependent
upon the interest with which the proposal for the
formation of the provident ASSOCIATION IS receVed
by the themselves
I, tbA circular which has been distributed to the
employees of the Third Avenue Railroad Company,
the Dry Dock, East Broadway & Battery Railroad
COMPANY the Forty-second Street Manhattanvile
& St Nicholas Avenue Railway Company and the
Union Railway Company, Mr.: Whtridge says:
Each ennIove is to be asked to subscribe the sum
Of 40 cents month If 80 per cent of the men JON,
the COMPANIES will pay in at the end of each month
sn 80 nant of the amount of money contributed by
the men II 70 per cent of the men join, the com
pauies will pay In at the end or eacn month 20
per cant Of the amount contributed by the men. II
I" 80 rant or more of the men join the companies,
at the end OF each month viii pay in 100 per cent
bv the men This money will be placed with the
Central Trust Company, of NO: % wall street Tor
investment under an agreement with the board or
directors.
Mr. Whitridges plan for the formation of the
association and the contribution by the companies
to the funds given by the employees is one of the
means bv which he hopes to give the best possible
service TO the public. The plan has been approved
nv Judge I.acombe of the United States Circuit
Court and the bondholders. The association will be
under the management of seven directors, four OF
whom will be officials of the company: Edward A
Maher the general manager of the four roads;
lanes w Roosevelt, his assistant; Edward Sage.
cashier and Anton SLydstrup, jr., superintendent.
The other three members will be chosen from
among the employees. The first three VIII be CHOSEN
,ron, among the men who have been longest In the
.er,,ce of the roads, and after the first year the
three representatives OF the employees VIII be
elected by the members of the association itself
The Durposes for which the money to be contrib
,,tAd bv the employees and by the companies will
be used as stated in the circular, are:
First-To compensate men when they are i'll. "a az
the rate of 81 so day In the case of serious III
ness or accident, this payment will begin at once.
For slight illness or indisposltlon' only a1ter the
iaRss Reeond|To provide for payment to the family
Of a man who dies in the employ or the company.
Third-For the establishment Of pension
fund. ,o,stor soaturas or tho ae-
ISOLATION cannot be expressly defined until we
know how many men MI G 50an e and "ai n be ee
association will also employ physician and I'd the the
members will be furnished with clubroom In the
new office building. at l29th street
Mr. Whitridge does not intend to call for any
navments from the employees before October. but
all who want to join the association are asked to
signify their wishes to MIR. Roosevelt Although
Mr. Whitridge had posted in the cars of his lines
a few months ago signs bearing the admoniton,
Every conductor who does not turn in fares col
lected steals" he says in his circular:
1t is my desire and that of the bondholders In
institutine this association and in making the
large contribution from the companies 20 its re-
sources, to treat the men as we should ourselves
wish TO treated.