The times dispatch. [volume] (Richmond, Va.) 1903-1914, 1910-12-11
WILL DEVOTE Time
TO.C0RP0RAT|ONS.
George w. Perkins Has Ans
bilious Plans Benefit En-
ployers and Employees.
MAKE STRIKES IMPOSSIBLE
He Forcsecs Utopia Where
Everybody Will Be Happy
and Content.
MAKE STRIKES IMPOSSIBLE
Especial to The Times Dispatch.

Especial to The Times-Dispatch1
New York, December 10.-Georgc w.
Perkins, who has withdrawn from j..
p. Morgan & Co.. to devote his whole
time to profit-sharing and other cor
porate benefit plans, explained in de-
tail to-day the scope of his future
work. He emphatically denied that his
action was caused by any clash with
Mr.. Morgan.
ION the contrary he said. ...r. Nor
gan Is In complete accord with these
schemes to bring workingman and
employer together. to insure prosperity
to both, to ohyiate the necessity of
strikes, to perfect complete co-opera-
ton
One OF the first fruits of his new
work, Mr.. Perkins said, would be the
Organization OF an association IN which
the various corporations which have In
stituted profit-sharing systems Will be
represented. BY bringing together
men from these different fields OF in
dustry great mutual benefit is expect
ed to be obtained through the inter
change OF ideas.
IT see some OF the papers say that
l am going. to become a trustee OF the
Equitable Life to fill the vacancy leit
by the late Grover Cleveland" ne con-
,inued. ut is too early for me to
make any comment on that story. !
do not think that Nr. Morgan has yes
come to conclusion In regard to the
matter.
Tn reference to my withdrawal from
the Arm OF j. p. Morgan & Co., want
1t expressly understood that have no
intention whatsoever OF withdrawing
also from the directorates OF the corpo-
80 No. arIlh n r.
In these corporations in which am
a director I shall devote myself partic-
ularIy In studying out methods for
bringing more closely together the en-
ployer and the employe. Each corpo-
ration presents different problem.
In the International Harvester Com
pany n system of profit-sharing mutual
benefits and pensions has been estab-
1ished. which has proved Itself pecu-
liarly satisfactory for that corporation:
and yet should not say that this e1-
act scheme could be adopted with sue
cess In every corporation in the coun-
try.
II think that the people of the pres
emit time are coming to realize that
there is no problem confronting US to-
day that is OF as far-reaching impor-
lance to our business interests as the
problem of capital and labor. And
the way to solve that problem is 10
provide a way by which capital and
labor may work together. may pull in
the same direction. may share alike In
the profits OF their union. and both be
satisfied 20 SO great a degree that
strikes. lockouts and other such evil
dences of friction, distrust and conflict
viii lie unknown.
plans for profit-sharing. pensions
and other systems OF a like character
are not unknown in American finance.
They have been tested from time to
time, but most of them have fallen
more or less short Of success. The
schemes that failed almost always
lacked a Just standard OF cooperation.
Too often only the interests of the
business, of the employer, were safe
guarded and the workingman did not
get his fair share.
Nov, understand me. there is no
charity about the ideal system of in
dustrlal corporation. AS soon as char
!ty enters you pauperize the laborer
and take the heart out OF him. On the
contrary, the most successful plan to
bring employer and employe together
in harmony Is business proposition,
pure and simple. It helps both the
corporation and the men, the chief
executive and the man who sweeps out
the office.
And this is brought about in this
way: Where every man connected with
accompany owns stock in 1t or in some
other way is interested in Its earn
ings, each such person will take a per-
sonal interest in the welfare and pros