The Elk Mountain pilot., 1920-01-01
GIFT OF EIGHT NIL.
LION DOLLAR B0NUs
Ford Industries Asaeunos New Yesr
Gift Of Eight HlllIlsn Dollsr De~us
and Offer Of Participation In Fu-
turc Prosperity

!
turc Prosperity
Detroit, Mich, Dec. 31.-Henry
Ford and his son. Edsel Ford, an
nounce today the distribution Of a
So 900 900 bonus among the $4,000 en-
ployes of all branches of the Ford in
terests and the Inauguration of an
in, estment plan whereby every work
en- from the man who wields broom
to the chief executive, may partici-
pate in the profits of the business.
| Bonuses, which will be paid in cash
| to-day. come In addition to the profit
sharing plan which was inaugurated
several years ago and which will be
continued, 1t is the intention of the
Ford organization to make the distri-
button of these bonuses an annual
event if the earnings of the company
permit.
In cash and in the number of men
concerned. and without counting the
moral effect on industry as a whole.
this act of economic justice surpasses
anything in the history of labor.
The lowest award paid goes to men
who are receiving the minimum pay
of Sc day and who have been in the
employ of the various companies
three months. 1t amounts to $50.
The highest award goes to the skilled
workers who have been with the COM
pany five years and who are receiving
slOsO day The bonus received by
the latter amounts to $270.
Employees who receive salary will
also receive bonuses, Ability and
length of service will be the stand
based
In announcing the plan which per-
mits employees to invest up to one
third Of their pay in the organization
and share in the prosperity of the
company, the allied interests of Henry
Ford are carrying out the ideal of
MIR. Ford that labor has right to
participation in the benefits Of the
prosperity which it helps to create
and in the words of Henry Ford him
self should have share as well as
p Job"
When the complete ownership OF
the Ford Motor Company was ac-
qulred by Henry Ford and his son
ast summer steps were Immediately
, taken to work out the details Of the
bonus and investment plans an
ncunced today 1t always has been
the Ford policy to discourage big
dividends to non producing stock
holders. and to use profits In reward
ing labor and In expanding industry.
This policy. as Henry Ford regards
it means not only good pay and q
share in the profits for the workers,
but the employment Of moro. and
more people as the business grows.
Henry Ford holds. and has repeat
edly stated it As his belief. that no
, man should be permitted to own
stock in an industry unless he plays
productive part in the operation OF
that industry. and the Initiation Of
the Investment plan Is a practical ap-
p'ication Of that belief.
Under the Investment plan certifi-
Gates will he issued in the names OF
employees in denominations Of 800.
$500 and $1,000. Only persons in ac-
tual and active, service of the organ
izn'ion will be permitted to buy or
mold certificates.
These certificates will bear a guar
anteed interest at the rate OF six per
cent per annum and in addition to
, this further payments wih be made
, semi-annually If the earnings Of the
company permit, at = rate fixed by
The beard Of directors.
In case Of death or disability GER
tificates standing in the name Of an
emp.ove may continue, at tho discre-
tion of the directors, to draw interest
and payments for the benefit Of his
dependents.
Deposits toward tbs purchase OF
, certificates may be made within three
days after an employe receives his
pay from the company; the amount
deposited however, is not to exceed
one-third of such pay. Deposits made
toward the purchase Of certificates
will draw interest at the rate OF
three per cent per annum. COM
pounded semi-annually.
Certificates must be paid for out
of bonus or pay and no employees will
be permitted to draw money from
mis- bank account or other source to
make payments.
A significant statement may be
found in one Of the closing sentences
of the company's announcement 1t
reads: "Other plans for enlarging
tho incouno and increa sing n.xuaer of