New Britain herald., 1919-01-14
EMPLOYES ALLOWED
 ID PURCHASE STOCK
Stanley Works Has Plan of Exten-
 siVe Cooperation Among Workers

Employes at the Stanley Works whether on salary basis or not are to be given an oppor- tunity to purchase stock in the concern at more favorable terms, according to an announcem made by Walter H. Hart, assistant secre- tary. Payments are to be made monthly or quarterly and subscrip- aggregate, and the price is fixed at $95 per share. Secretary Hart's announce ment of the new plan follows:
 Allotment and Interpretation.
 First: The company reserves the right to cut down any subscription.
 'All questions concerning subscrip- tions, allotments and interests there under and any other questions arising under this agreement shall be decided by the officers of the Stanley Works at their discretion and such decision shall be final and binding upon all parties.
 Second: Subscriptions shall be for one or more shares at the price of s95 a share. Subscriptions for fractions of shares will not be allowed.
 Maximum Amount Of Subscriptions.
 Third: The following table shows the maximum subscriptions permitted: Enployes may at their option sub scribe for less than such maximum. In computing, consider only full SIo Employees receiving for previous year earnings of $2,000 or less may sub scribe for purchase of shares at $95 per share up to 20 per cent. of pre- vious years earnings; those getting $2,000 to $4,00o up to 15 per cent, and those getting s4,0Oo or over up to 10 per cent
 Payments for Stock.
 Fourth: Payments for stock shall be by weekly deduction from pay, o1 monthly or quarterly payments.
 No installment shall be less than $1 nor exceed one-quarter of current months salary or wages
 All installments must be in even dollars.
 '"The first payment is due in Feb ruary. 70
 Interest at 5 per cent. per annum will be charged on unpaid business.
 'The full payment for the stock must be completed within three years.
 Dividends.
 Fifth: Until payment of the sub- scription has been completed a sum equal to each dividend paid on the stock subscribed for. will be credited n 10 nf part of his payment; and in the event of any increase in the number of shares of the capital of the corpora ton, the rights to such increase upon the shares subscribed for will be sold and the price received will be credited upon the subscription.
 '1After subscription is fully paid a certificate of stock will be issued to the subscriber and future dividends and rights to increase of capital, if any, go direct to the shareholder.
 Refund Of TnstaIIments
 Sixth: Subscriptions will be can celled for the following reasons:
 "C) By request of the subscriber;
 "t2) By (a) voluntarily leaving the service, Or (b) being discharged for cause, or Co failing to resume em- ployment when requested (see Sec ton Tonth).
 "(S) By discontinuing payments Without the consent of the corpora tlon for three consecutive months.
 upon cancellation of a subscrtp- ton, before 1t is fully paid. the full amount or payments made by the subscriber on the cancelled subscrip- tion' together with interest at per cent. per nnnum to date of cancella- ton Wlll be refunded to the subscrib- CT no interest being charged on de- ferred payments. But ail past and future dividends and value of rights on increase of capital (Sectlon Fifth) and al1 past and future special ben