The Lakeland evening telegram. (Lakeland, Fla.) 1911-1922, 1916-08-28
What Sympathy.
Effected
ALabor Day Story
By BARBARA PHIPPs


i think a strike win be declared"
What is the trouble between you
and the menT'
They want an advance Of 10 per
cent"
Now, Miss Quintard, daughter of the
president Of the Quintard Manufacture
ing company, instead of spending her
time In social requirements gave It to
the employees Of the concern Of which
her father owned a controlling inter.
est She visited the sick, helped the
women put their children In proper APP
parel, supplied needful provisions and
otherwise ministered to their wants.
While the father was absorbed I'm pay
ing dividends the daughter was SYM
pathizing with the workers.
What dividends are you paying.
papa?" asked Dora.
Twelve per cent"
What is fair interest on money!
THAT depends. The government can
borrow on as low as per cent inter-
est A good railroad per cent stock
is usually worth par. Manufacturing
stocks should pay from per cent as a
minimum indefinitely upward"
What is the market price of Quin-
tard stockT
zone hundred and seventy"
"Supposing you should add 10 per
cent to the mems wages. what divi-
dends could you pay?"
From z to 8 per cent, think"
"And what would be the market
value Of the stock while you were pay
ing, say per centT
THAT would vary in different manu-
featuring concerns. In our case, where
we have a steady demand for our
goods, a fair surplus and much money
invested in the plant. the stock should
sell at about $780,"
"You say that a railroad stock selling
at par and paying s per cent is fair
investment Isn't a manufacturing
stock selling at $50 and paying 8 per
cent better oneT
that's a question for the investor.
. should consider them about equally
, good. I. knowing all about the affairs
Of the Quintard company, would prefer
to hold its stock at $3.50 on an per
, cent basis to a good railroad stock at
par paying per cent"
} Don't you think. papa, that you
could grant this increase Of wages and
: still give the capital invested In the
company a fair dividend2"
} what a smart little puss" said the
= father, embracing his daughter. "Why
don't you set up for a walking dele
( gate? You would easily prove to the
: operatives that they are being treated
r unfairly, that capital Is getting the
t lions share of the profit accruing from
r their labor. Having proved to them
: that they are entitled to 10 per GEM
advance, you could then prove tina
8 they should try for another 10, and 81
on, till the bubble burst"
o "What do you mean by the bubble
I bursting%
: Suppose wages were to be increased
till only fair dividend is earned
nothing Is laid up for supplies; the ma
chinery wears out or new mechanical
j. devices must be INTRODUCED to meet
t reduced cost Of manufacture. Or sup
n pose a war breaks out and we are shu
n off from our foreign markets. Wher
are we? Stranded Where are tn
Q operatives? Thrown out of employ
9 ment. And you know what tina
o means. 1t is starvation"
Eyes. papa, but you are paying 1
e per cent dividends. How can you pa
1t that and add to your surplusr
e "AH investments are liable to tur1
Y ont a loss of the capital involved
l. Manufacturing stocks are considere
u especially uncertain. 1t is difficult I
u get capital for them or to hold 1t VINE
y. YOU have got it To hold our capta
N IN the Ouintard company we have bee
q having out all our net earnings In DIV
v dends. MY plan has been to do TIL
Is till confidence is acquired ana some
y thing more than cur present dividend
Ct earned. Then l will reduce the div
dends and place the reduction ana Tn
O. additional amount earned to surplu
CT occount When I have provided a SUI
le Mus sufficient to keep the stockhoideI
- from boiling and my men employed
~ case of a year Of loss instead OF prol
.e I intend to pay higher wages-tnat
4. n see no more snags ahead.
y "Whv don't you explain that pos
70 tiou to the employees as you have e.
planned 1t to meT
"such a course would be impracnc'
: 81 bic for many reasons"
y That was the end Of the dialogu
- but IT was not the end Of Miss Gun
" tards thoughts on the subject 81
!. formed a plan to give to the employee
~ what the president could not DO OF
- ,iarly-an inkling of the situation. 81
!, = vent to the women whom she ga
= :, helped-those she could best tristan
- gave them to understand tnat q
= knew It to be the best interest OF q
u. operatives that they should let . We
- enough alone for the present. trusur