The Dallas express. [volume] (Dallas, Tex.) 1893-1970, 1920-01-10
FORD INDUSTRIES ANNOUNCE
NEW YEAR GIFT OF EIGHT
MILLION DOLLAR BONUS AND
OFFER OF PARTICIPATION IN
FUTURE PROSPERITY.

Detroit, Mich, Jan. Henry Ford
and his son. Edsel Ford. announced
today the distribution of a $S,000,00C
bonus among the $4,000 employees OF
all branches of the Ford interests
and the Inauguration of an invest
ment plan whereby every worker
from the man who Yields a broom
to the chief executives, may partici-
pate in the profits of the business
Bonuses, which will be paid in
cash today, come in addition to the
profit-sharing plan which was in
augurated several years ago and
which will be continued 1t is the
intention of the Ford organization
to make the distribution of these
bonuses an annual event if the earn
ings 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
company five years and who are re-
ceiving $1,000 a day. The bonus
received by the latter amounts to
$40.
Employees who receive a salary will
also receive bonuses. Ability and
length of service will be the stand
ard on which the awards will be
based.
In announcing the plan which per-
mits employees to invest up to one
third of their pay in the organiza-
ton and share in the prosperity of
the company, the allied interest of
Henry Ford are carrying out the
ideal of Mr.. Ford that labor has a
right to participation in the benefits
of the prosperity which it helps to
create and, in the words of Henry
Ford himself, Should have a share
as well as a job"
When the complete ownership of
the Ford Motor Company was ac-
quired by Henry Ford and his son
last summer steps were Immediately
taken to work out the details of the
bonus and investment plans announc-
ed today. 1t always has been the
Ford policy to discourage big divi-
dends to non-producing stockholders
and to use profits in rewarding labor
and in expanding industry. This
policy, as Henry Ford regards it
means not only good paw and a share
in the profits for the workers, but
the employment of more and mora
people as the business grows.
Henry Ford holds, and has repeat
eddy stated it as his belief, that no
man should be permitted to own
stock in an industry unless he plays
a productive part in the operation
Of that industry and the initiation
of the investment plan is a practical
application of that belief.
Under the investment plan GER
tificates will be issued in the names
of employees in denominations of
800, $500 and $1,000. Only per-
sons in actual and active service of
the organization will be permitted
to buy or hold certificates.
These certificates will bear a
guaranteed interest at the rate of
six per cent per annum and in ad-
ditiOn to this further payments will
be made semi-annually if the earn
inss of the company permit, at rate
fixed by the board of directors.
In case of death or disability GER
tificates standing in the name of an
employe may continue, at the dis
creation of the directors, to draw
interest and payments for the bene-
fit of his departments.
Deposits toward the purchase of
certificates may be made within 8
days after an employee 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 GER
tificates will draw interest at the
rate Of three per cent per annum,
compounded semi-annually.
Certificates must be paid for out
of bonus or pay and no employees will
be permitted to draw money from
his bank account or other source to
make payments.
A significant statement may be
found in one of the closing sentences
of the cOmpanys announcement It
reads: "Other plans for enlarging
the income and increasing power of
the dollar of our employees are under
consideration"
The policy reflected by these an
nouncements is not new with the
Ford organization. The history of
the company for the last five years
shows that its ideal of industrial
justice has always been high. In
1914 the Ford Motor Company an
nounced a minimum paw of SIS day
since which time it has distributed
approximately 100 million dollars in
profits to employees. Following this
Mr., Ford was sued by minority
stockholders and compelled to pay
dividends instead of reinvesting earn,
ings and increasing wages as he de-
sired. Sometime later. however,
came the announcement of Sc
then the purchase of the holdings of
stockholders by Henry and
a day minimum scale of pay and
Edsel Ford
No sooner was the organization
in their complete possession than
he began to arrange for an adj
ditional distribution of profits with
their thousands of workers and the
result is the New Year announce
ments of an $S,O0O,000 bonus and the
right to share in the prosperity of
the industry.
FISK IL" OPENS $2,OOO.OOO DRIVE.