The copper era and Morenci leader., 1914-10-02

At a meeting lately held at Bisbee by the Directors of the Phelps Dodge Mercantile Company, a decision was reached that beginning October 1, 1914, the Detroit Copper Mining com- pany, of Morenci, with other associ- ated companies, would place in effect Ia system whereby the employees of the Company will share the net profits of the Phelps Dodge Mercantile con- pany by being paid in cash, at stated intervals, a five percent dividend on all goods purchased at the Phelps Dodge Mercantile company's store.
 This action, as stated below, was taken in view of the existing condi- tions caused by the depression of the copper industry, and is solely upon the initiative of the Phelps-Dodge company that it's employees be as- sisted. The step is of moment, as besides the cash to be paid, amounting to heavy portion of the total profits, the work of increased account ing alone makes an increased ex- pense. The first dividend to be paid at Morenci, which with Tyrnoe and Dawson, New Mexico, is similarly af- fected, will be on February 1. This system of sharing of profits will be clear gain to all customers affected, as the prices of the merchandise will in no instance be placed higher than they would have been had not the system been operated.
 Below is a copy of the notice af- fecting the coming plan, as posted by the Phelps-Dodge Mercantile company in it's store at Morenci:
 'In an endeavor to relieve present unusual conditions owing to readjust- ment of wages made necessary be- cause of the state of the copper busi- ness, it has been decided by the di- rectors of the Phelps-Dodge Mercan- tile Company to inaugurate a plan of sharing it's profits with the em- ployes of the Detroit Copper Mining Company of Arizona, according to method of which the following is an outline:
 This company will share with em- ployes of the Detroit Copper Mining company who have been in the con- tinuous employ of said company for three (3) months or more, the net profit accruing from sales of mer- chandise to them.
 The extent to which employees of The Detroit Copper Mining Company will participate in this net profit will be equivalent to five per cent 6 per cent) on their purchases of merchant disc (not including wines and liquors).
 
 the disbursal of these dividends the year will be divided into quarterly periods as follows:
 January 1st to March 31st.
 April 1st to June 30th.
 July 1st to September 30th.
 October 1st to December 31st.
 Bank drafts will be mailed on the first day of May, August, November and February to all customers who have been in the employ of the De- troit Copper Mining company the Ee- quired time covering the dividend on purchases of merchandise made by them during the preceding quarterly period.
 Customers who are eligible to par. in this profit sharing plan the service of the Detroit Copper Mining Company after the of a given quarterly period will receive no dividend on the regular dividend day covering that period but will, on the regular divi- dend day for the following quarterly period, receive a draft covering the net profit on their purchases since the service.
 The foregoing plan will become operative on October 1st, 1914 and will continue in effect as long, as in the opinion of the directors of this company, it is advisable, and may at their discretion be discontinued at any time.
 Phelps Dodge Mercantile Co.,. (Signed) by W. H.. Brophy,
 General Manager.