New-York tribune. [volume] (New York [N.Y.]) 1866-1924, 1914-01-12

doubtful II the support OF that body
will carry much weight with the Inter
state Commerce Commission. With the
increase allowed. enabling railroads TO
obtain additional revenue as on Offset
to their largely increased disburse-
ments FOR wages. one of the most I'M
portant Industries of the United States
would he materially benefited, and the
effect would he felt in many other in
dustries. first among them that of iron
and steel
The foreign trade of the United
states for the first i've months of the
! fiscal year. up 10 the end of November
shows exports.o 81 .OSl Dol .GJ5. against
imports of S12S. $40 pol, the trade bal
ance in favor Of this country for the
period thus amounting TO the enormous
total Of $500. GSl 4Jl. Exports for No
vember were $40. $50 392. decrease
of nearly &33. 100000 from the fgures
( of the same month Of 1912. and were
ports. Total exports Of manufactures
for the five months were S6O1 I'D. 40
or about Sl.jOO,OOO less than for the
same months of 1872 and nearly $50
0ao 900 more than for the same period
in 1911.
Announcement Of the Union Paciiics
intention 10 distribute among its com
mon stock holders It's holdings of Balti-
I n a.
ket by surprise, although it had long
been known that these and other hold
ings would in time be disposed OF III
some form. and it had been commonly
understood that the only beneficiaries
would he the holders Of The common
stock. who would in receiving the stock
held by the Union Pacific surrender an
equivalent in the form of part of the
, 10 per cent dividend which Union Pa
cific common has enjoyed for the last
few years. Not all of the preferred
stock holders. however, are disposed TO
acduiesce in the decision of the board
/ and a little band of them have taken
steps to determine whether or not they
/ too. will he able to share in the distri-
button. although the prospect of the
/ success Of their litigation is not re-
sarded in Wall Street as promising.
Ford Profit Sharing Plan.
! one industry should not he included
| in the category of those which are feel
! ing the effect of the lack of business
( CONFERENCE.-The automobile manufact-
uring industry. and one concern IN mat
class. the Ford company, least OF all.
/ No more interesting development has
occurred in the industrial history OF
the country for many day than the
announcement last week of the pur-
pose of that corporation TO DIVIDE
among its $1,000 to 10000 employees
tho great sum of S106O,OO0 in the
coming year as a profit sharing fund'
designed TO encourage efficiency Ny
giving every cmploye compensation
large enough TO enable him TO dismiss
money anxieties from his mind thus
presumably leaving him free to devote
his entire thought TO the interests Oh
the employing company. Wages palu
by the Ford company had previously
been - per cent higher than those OF
any other concern in the industry ana
il was no wonder that the promised
additional disbursement, which VIII
/ hiring the pay of the humblest worker
in the plants 10 a minimum Of 50 day,
ehould have brought an eager host of
10 900 men to the Detroit factory Wheh
the news came OFT that other thou-
sands are reported TO be heading Tor
the Motor City.
! II is an experiment on a COLOSSAL
scale. and incidentally an advertise
ment of colossal value. 1t may WORK
ont as lis trainers hope and expect, LOT
! The company has long been the envy
! Of its competitors in the volume OF Us
/ sales and the size of its pronls- buu
/ II will oy no means be unlNersa!lS
agreed that the paying OF wages lai
out of all relation TO tho law OF suppN
and demand and far beyond the power
! NJ other concerns in the automobile IN
6ustrv to give will increase decidedly
tho efficiency Of the fortunate en-
ploves or will tend TO encourage thrlit:
rs the so-caled profit sharing plan OF
the United States Steel Corporation
does. or as the pension plans OF many
large corporations do; or that the sIo'
! 600 600 fund will be more wisely uSeu
in the form of a bonus TO already wen
paid employees than it would he In
| giving employment at fair wages 10
an additional body o. men, perhaps In
some other industry.
The working out Of the plan is or
direct interest to the financial mar
lets. for the effect may easily be To
create an agitation which VIII demand
] now granted as special privilege by
a particularly well situated concern in
enc Of the most prosperous OF indus
tries.
WEEKLY TABLE Of BONDS.