Bisbee daily review., 1914-09-25

At the monthly dinner of the fore men and bosses of the Copper queen Mines. which was held last night at the Warren District Country club, MT Walter Douglas. general mana ger Of Phelps, Dodge & Go. lncor- porated made an announcement which will be of extreme interest to an the officers and employees of that company. and which will inau- gurate an interesting cooperative ex- pertinent which. if successful. may be epoch making
 Mr Douglas stated that the Board Of Directors of the Phelps. Dodge Mercantile company had. in view of the recent reduction in wages, due to the present abnonral condition of the copper market, determined as an emergency measure to put into ef- feet on October l, 1914 a profit shar. ing system whereby employees of the mining company (who were patrons of the stores) would participate in the profits of the Mercantile com pany Briefly stated the scheme is as follows;
 This Company win disburse to em- ployes of the Copper Queen Consoli- dated Mining company who have been in the continuous employ of said company for three (3) months, or more. all of the net profit accruing from sales of merchandise (not in- cluding wines and Hquors) to them.
 The percentage of this profit, or dividend win be based on the actual net profit on sales to such customers as a whole earned during the proceed ing year This net profit amounted to, for the year 1913, approximately ten (10) per cent on retail sales. and this figure will be used in computing the dividend on sales 10 all employees, who are entitled to such dividend until the results attained during the year 1914 are available.
 In order to facilitate and expedite the disbursal Of these dividends the year will be divided into quarterly periods as follows:
 January l to March 31.
 April l 10 June 50.
 July 1 to September 3l.
 October to December 31
 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 Copper Queen Consolidated Mining company the required time, covering the dividend or net profit on pur ohases of merchandise Cnot includ ing wines and liquors) made by them during the proceeding quarterly per iod
 Customers who are eligible to par ticipation in this pront sharing plan entering the service of the Copper Queen Consolidated Mining company after the commencement Of a given quarterly period will receive no divi dend on the regular dividend day covering that period. but will on the regular dividend day for the following quarterly period receive a draft GOV ering the net profit on their pur chases since entering the service.
 As soon as possible after the end of its fiscal year December 31) this company will cause to be prepared a concise statement showing the per centage of net profit 10 sales or business done with employees of the Copper Queen Consolidated Mining company, which statement will be certified correct by the officials Of this company and be submitted foi examination and approval to a com mittee composed of officials of tho mining company and representatives Of it's employees.
 The foregoing plan will become operative on October l, 1914, and win continue in effect as long as in th' opinion of the directors of this com pany. it is advisable. and may al their discretion be discontinued al any time
 It is the intention of the Mercan tile company to also make a division Of profits with the employees of tho other operating properties of Phelps Dodge & Co. Incorporated. at Moren of. Dawson and Tyrone. At Naco