The Salt Lake tribune. [volume] (Salt Lake City, Utah) 1890-current, 1910-12-25
Edison Company Latest to Adopt
Plan of Benefiting Faith
full Employees.
STEEL CORPORATION ALSO
OPERATES PENSION PLAN
Movement to Eliminate Retail
Dealer Extends TO Exclu-
sion of JObber.
BY PRESTON C. ADAMS.
ased Wire TO The Tribune.

By Leased Wire TO The Tribune.
NEW YORK. Dec. 24.-The question
of profit sharing with employees is a
very live one with the great employers
of labor. In some quarters 1t is not
alone considered as a matter of fair
ness to the employees. but it has its
selfish side also in being, if not a pre-
ventive of strikes. at least of having
the effect of minimizing the danger OF
disastrous industrial conflicts
The most recent recruit to the ranks
of the big employers of labor who have
decided to make the workmen share IN
the property is the Edison Electric IL
Eliminating company OF Brooklyn. The
plan adopted by this company provides
that at the end of the year 1910. en-
ployees of that company shall be cred
tied with a sum out Of the year 9 profits
In accordance with schedule under
which employees who have been In the
service two full years will receive
percentage of their salary or wages for
the year equivalent to a quarter OF the
rate of dividends paid on the capital
stock during the year. Employees VINO
have been in the service of the com
panv three wears will receive a per
centage equivalent to one-half of the
rate of dividends paid on the capital
stock. while four-ycar employees WILL
receive three quarters of the rate, ana
fve,year or still older employees will
receive percentage equal to the full
rate paid on the stock. The plan also
provides for pensions for employees
who have reached the age Of 65, and
for those who have become unified for
full duty.
Pension Plan for Employees.
The United States Steel corporation,
liz addition to its profit-sharing, plans
to pension its faithful employees Inc
pension fund has been raised to $l2,-
600 900. 1t will be administered by
board OF twelve trustees. through
manager appointed by the board, with
such powers and duties as may be given
him by that body. Under the rules gov
eraing the pension fund. as adopted by
the board of trustees, three classes of
pensions are provided, as follows: First,
pensions by compulsory retirement,
granted to employees who have been
twenty years or longer in the service
and have reached the age Of seventy
wears for men and sixty years for
women; second. pensions by retirement
at request, granted to employees who
nave been twenty years or longer in
the service and have reached the age
Of sixty years for men and fifty years
for women; third, pensions for perma
pent iucapacity, granted to employees
who have been twenty years or longer
in the service and have been perna
nently. totally incapacitated through
no fault of their own.
The monthly pensions to be paid from
the income of the fund will be made
foJI L.c oooh
year of service ] per cent of the aver
age monthly pay received during the
last ten years of service: provided,
however, that no pension shall be more
than 500 a month or less than S12 a
month. For example, an employee who
bas been twenty-five years in the serv
ice, and has received an average regu-
lar monthly pay of $50 a month, will
receive pension allowance of SIS a
month. 1t is explained that this fund
is entirely distinct from the voluntary
on May ] of this wear, No contribu-
lions to either of these funds from en-
lloyees themselves are involved.
Producer TO Consumer.
The grocery trade has been amused
at several phases of the agitation that
have recently developed side by side.
Consumers buying clubs are springing
up thicker than ever. Their purpose
is to eliminate the retailer by going to
the wholesalers. Just at present there
is much talk of further organizations
of retailers to eliminate the jobber by
going direct to the manufactures. Sec
retary Wilson has just added the cap
stone by suggesting that consumers cut
out both the retailer and wholesaler
and buy Jointly of the producer. The
middleman, therefore, is again brushed
aside by these theorists as factor of