Evening journal., 1911-12-16

when the share was worth $50, it only
had cost him about $40. Arrangements
were made so that i'm case an employe
failed to keep up his payments, or left
the company, the amount he had paid
i'm would be returned to him with in
terest. while the remainder would be
distributed among the others.
How Plan Worked.
Mr.. Perkins said that since the plan
went into effect Sl2,000,0OO have been
distributed i'm cash and stock and that
the plan has given gratifying results.
Not only had it brought about greater
efficiency, he said, but it has encour-
aged the small wage Garner to save.
This plan. he said. makes the men
feel that they are a part of the cor
poration, which they are.
1--WE have found that they would
rather pay us six cents a week on a
share of stock than to pay six cents
a week to Mr.. Gompers," Mr.. Perkins
laughingly added.
He emphasized the necessity of be-
ing absolutely fair to the employe in
the execution of such a plan. The
failure to do this, he said, acted as
a boomerang to the corporation, and
he said his investigation of some fail
ures i'm proft-sharing revealed that
they we're due to the fact that the
MANAGEMENT had not been quite gem
erous enough. Here, he advocated
stock distribution instead of cash dis
tribution for he did not think the
latter benefited either employe or em-
ployer. The former. he said, would
likely spend it freely and in time
would come to look upon it as so
much additional salary.
Answered Questions.
In response to a question by Will
lard Speakman as to how the plan
could be adopted by smaller con-
Germs. Mr.. Perkins said it could be
done by the issuance of certificates OF
participation. whereby certain
amount of the profit could be held for
a certain period for the employe. lie
explained this plan:
Questions were asked by John Ban
croft, John j. Raskob and Major VIII
liam G. Ramsay concerning the va
rious features of the plan, all OF
which he answered. In reply to a
question by Mr.. Raskob, he said he
considered the speculative feature .
strong one.
Mr. Perkins made it plain that in
the allotment of stock and where the
empIoye did not keep up his payment
none of IL ever reverted to the COM
many. He said the employees must
he treated absolutely fair in order
70 make Notwithstanding successful.
Mr.. Warner called upon Josiah
Marvel for remarks and Mr.. Perkins
caused much merriment by saying
Il hope you won't allow any lawyers
to ask me any questions"
Mr.. Marvel expressed the beliei
that the movement could not have q
better start than following the ex-
planation of Mr.. Perkins. but he die
not think that enough had been SAID
about the higher efficiency resulting
from the plan.
Mr Perkins replied that the mil
lions the corporation had expended
i'm profit-sharing had resulted in ;
greater efficiency.
Mr.. Perkins answered several ques
tions and read some of the answer:
received i'm reply to circulars sent ou
TO manufacturers and others by thu
National Civic Federation, desiring
information concerning the Sherman
act and other matters. IL showed
/ shat 1434 concerns or Individual
were against the repeal, while S95 ia
vored a repeal. IL also showed tina
1,4O3 favored amending the act ant
! 354 were against an amendment