Newark evening star and Newark advertiser. [volume] (Newark, N.J.) 1909-1916, 1913-03-05
FIDELITY PLANS
SAVING SCHEME
Employees in Club to Buy
Stock on Easy Pay
ments.

The details of the savings and in
vestment plan offered to the en-
ployees of the Fidelity Trust Com
pany, the Public Service Corporation
and their allied companies were eX-
planned to nearly 100 men and women
employees of the trust company yes
terday afternoon by Uzal H. McCar-
ter president. The address was an
informal one and Mr.. McCarter
sought to make clear the working Of
the plan. No action was taken after
the address, but it Is thought many
employees will enter the project.
The plan of selling Public Service
stock to the employees on easy pay
ments was not a speculation, but a,
savings plan, he declared, and also
made another important point of the
fact that employees who entered the
plan must not expect such large re-
turns as the employees who pur-
chased Public Service perpetual in
terest bearing certificates seven
years ago.
On April 4 next the plan is to go
into effect, he declared. and while
no one is obliged to enter it, he urged
them to give it careful consideration.
This plan" said Mr.. McCarter, lis
open to you men and women and to
the hundreds of employees of the
Public Service Corporation, as well as
to those of our allied companies, and
possibly to those of the Union Ma
tional Bank. with the firm belief on
our part that II Is something decid-
liz - i. .sr
ever, an offer that Is not entirely I'M
selfish on the part of the company
or that of the other institutions which
are making it. | mean by that frank
avowal that anything that Is for the
advantage of the employees of the
Fidelity or any of those other institu-
lions must of necessity and in the nat
ural order of things work to the adj
Vantage of the employing companies.
Our good, in other words, is your good.
Your good and your success Is our
good. Our policy has always been to
do everything that we possibly and
legitimately could do for the advance
ment of the interests of our en-
ployees. That same rule holds good
in the Public Service Corporation and
in the other Institutions to which l
have referred. Your advantage in
any such plan as this is direct. Our
advantage is indirect.
when l speak of your advantage,
however. ! do not wish to be under
stood that in this plan there will be
any such extraordinary and unusual
profit as l am glad to say was real
lied in the Public Service certificate
plan. The reason for this is easily
explained by the difference in the
conditions now as compared with
those that prevailed, when some of
you employees purchased the Public
Service certificates. l want to make
| that point plain so that there will be
no misunderstanding or misappre-
hension onsthe part of any individual
in or outside of any of these inter
ested companies. In a word, while
this plan is recommended highly to
you. we do not think 1t Will offer
financial advantages to the same de-
gree as was found in the case of the
certificates. / am free to say, how
ever. that we do think that the plan
will be a profitable one for those
who enter into 1t and that at its
worst it will net you more at its
contamination than the saving of
money at the usual rate of bank in
terest. 1t is, in a word, a compulsory
saving plan and it is as such that
/ want TO advise you to enter into it. p"
Now" said Mr.. McCarter, there
is another thing that | wish to make
as plain and as clear as daylight.
Neither this company nor any other
company and no Individual financial
ly, big or small, is trying directly or
indirectly to unload any stock on you.
No one has the slightest idea of doing
anything of the kind. If anyone Av-
ing tried to do any such a thing as
unload on you we would prevent it.
The plain fact is that we think this
plan is a good one for you. To make
| 1t possible we have gone into the open
market and purchased enough stock
to supply all of the interested COM
panies' employees who may care to
purchase it. The Fidelity's invest
ment in this stock remains exactly as
ii was. Not one share of that invest
ment stock is being offered to you.
What we have we are keeping. What
we offer to you has come from the
general market" -
ITO you and to every other man
and woman said Mr.. MeCarter, 81
want to say that the only successful
way of saving is to save regularly
and persistently. To you, | say, that
if you don't save you will never get
anywhere, financially, and to you
also say that this plan being in it,
very nature and of necessity a COM
pulsory one for those who enter into
1t, is a method that | personally COM
mend to your earnest and thoughtful
consideration"