Evening journal., 1911-12-16
PROFIT FOR
The WORKERS
George W. Perkins Would
Give Employees Chance to
Purchase Co. Stock
WARNER COMPANY BRINGS
DISTINGUISHED SPEAKER

at a conference of business men from
all parts of the State yesterday after
noon. The conference vas arranged
by the Charles Warner Company and
was held in the banquet hall of the
dupont building.
Mr. Perkins as a result of his COM
prehensive business experience has be-
come a strong advocate of profit
sharing by corporations-givi the
employe a chance to purchase the
stock of his concern rather than a
cash bonus at the end of the year.
Profit sharing, he believed, would go
a long way to preserve amicable re-
latiOns between employer and employe
and also result in a greater efficiency
of the workman. He detailed the
operation of the profit sharing plan
by the steel corporation as an exam
pie of giving the workman an oppor-
tunfty to reap some of the financial
benefit. Mr.. Perkins answered many
questions unfolding the details of the
plan.
Governor Pennewil and Lieutenant
Governor John M. Mendinhall were
among those at the conference, which
was attended by about $50 bankers,
manufacturers and business men.
Charles Warner, vice-president of
the Charles Warner Company, intro
duced Mr. Perkins
Mr.. Warmers Words.
During the past few years the
problem Of profit-sharing on the part
of various corporations has been
- given much consideration, and many
methods have been tried out with
moreOr less success" said Mr.. War
ner. "In some cases failure has been
encountered, and | trust this after
Moons meeting will help to indicate
it cause.
"The proper working out of this
question has a far-reaching effect in
the economical development of the
. cOuntry's business enterprises of all
classes. 1t goes still further in i'm
proving our commercial stability and
political safety, by instilling into the
minds of much larger proportion of
the workers and voters a justly i'm
proved attitude towards corpora
tiOns.
Several companies have already
largely increased the individual EN-
ploye's interest in their welfare; and,
so far as general records are avail
able have increased their own net
earnings after making large annual
disbursements in one form or an
other to some or all of their men.
THE attitude of the employees as a
whole in such cases has been 50
largely improved as to definitely es-
tablish the Importance of this move
ment, as a means Of developing har-
mony between capital and labor
throughout the country. A very large
portion of our industries are still
without broad and comprehensive
plan of profit-sharing conducted on
those lines which make for the great
est interest and effort of all en-
ployes.
1T is my sincere hope that this
meeting will be of assistance to sew
eral industries in this city, to moro
thoroughly study this problem as ap-
plving to their own particular busi-
ness, and later to install some plan
This should improve the earning
power of our enterprises, and the
spirit of the laborers throughout this
community.
Proper and extensive efforts on
these lines cannot help but influence
better and more harmonious growth
of our city. To aid to this end We
are favored in having with us a gen.
tleman of national prominence, who
has studied and directed protit-shar-
ing work for many years in some d
the country's largest industrials.
Besides prominence this gentle
man gives great promise of becoming
national benefactor because of the
broad-minded and far-sighted efforts
he is now making to save these wastes
and to create a vastly better feeling
between the rank and file of our citi
Gems and the aggregations Of capita
employing them.
81 take great pleasure in intrOduc
ing Mr.. George w. Perkins, of New
York
Mr.. Perkins Explains.
Mr.. Perkins at the outset said he
had been interested in proft-sharinf
for years, and his work had beer
largely i'm connection with corpora.
. lions. He said that business mer
had felt it necessary to enlarge ant
consolidate their business in order tC
keep abreast of the times, and tha
= labor organizations had done the
same thing The fact that steam anC
electricity have been brought int
play to bring new employees where ;
a strike had occurred was one of the
things that had caused labor to or
ganize. he said. This consolidation
of business and the organization o
- labor had brought about big ques
tions between capital and labor.
Mr.. Perkins referred to the forma
ton of the steel corporation. Thu
officers set about to see how thu
workmen could be interested. Thii
led to the adoption of the profit
sharing plan by the corporation. /
was announced by the officials ol
January l. 1902. that it was necessar!
to earn sSO,OOe,OOO to meet fixeC
charges and that if the compan.
ft could earn during the year s90000,00
one percentum Of that amount woul'
be set aside above salaries to be dis
tributed among all connected will
the big concern, who, by their brains
could effect economy and. in othe
ways increase the earnings. In cas-
II of a larger earning during the yea
one and one-half percentum of tn
amount vas to be distributed
4. This distribution was for the bene
fit of that class of employees known a
brain workers, but in 1903 anothe
proposition was made, whereby tn
hand workers were to share in tn
distribution by being allowed to bu
shares of stock at a reduction; an
$4,000 shares were issued. The EN-
81 ploye was not allowed to subscribe a
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