The diamond drill. (Crystal Falls, Iron County, Mich.) 1887-1996, 1920-01-03

Under a plan announced by the Am
erican Telephone 4 Telegraph Co. oo-
portunity for purchase OF canital
stock OF that corporation Is given en-
ployes OF the Michigan State Tele-
phone Co, an offer which IL being
taken advantage OF by a number OF
the local employees who believe In the
future or the corporation. The COM
pany's officials feel that such invew-
ment by employees will definitely pro-
mote interest In and efficiency OF the
service. as well as teach the inyes-
ters the habit OF saving and the virtue
OF thrift.
Very liberal provisions for max
Ing payments on the stock, withdraw
Ing from purchase contracts either up-
on leaving the service or for other
reasons and the application OF divi-
dencs TO the payments are included
In the plan.
Any person. who. on December 1.
1918, had been continuously In the em~
ploy OF the American Telephone and
Telegraph Co. or OF the Michigan
State Telephone Co. one year or more.
may purchase stock OF the American
Telephone a. Telegraph Co. at 500
per share. One share may be
bought for each $500 or fraction there
OF OF the annual rate OF pay OF the
employee, not 10 exceed twenty shares.
Payments may be made through de-
ductions from wages at the rate OF So
per share per month. beginning I'm
February. 1920. or, IL the purchaser de-
sires at the rate OF S4 per share per
month. beginning I'm May. Credits on
account OF dividends will be given on
payments IL the instaslments are
regularly paid and present rate OF
dividend continues the stock will be
fully paid by July OF 1922. s.S~-
On or after June 1. 1921. the pur-
chaser will be entitled 20 pay the ball
ance due on any or all shares con-
tracted for by him and will be enfitl-
ed 10 receive the certificates when
stock is fully paid. Uncompleted con-
tracts are not transferable.
IL an employees service is terminated
by death or otherwise before his stock
Is fully paid. the contract can be can
celled and the employe or his estate
Will be entitled to receive the net a.
mount accumulated on the contract
through wage deductions. dividends
and otherwise. However II ern-
ploymcnt terminates ON or after June
4. 1921. the purchaser or his estate
may, at their option. either take In
cash the net payments or make pay
ment in fun aud be entitled 10 the
stock.
An employe whose name IL taken
from the payroll because OF leave OF
absence temporary iay-on or transfer
TO the disability payroll may cancel.
at his option. his purchase agreement
and receive the accumulated payments
,r continue the payments or suspend
payments for the period he IL on the
payroll. not ia exceed three months.
deferred payments TO be made up the
following six months
Purchasers continuing IN service
i'ay at any time withdraw frori their
'ontracts as to any or all shares anu
will be entitled to receive the total a.
nonnt withheld from wages as to
'ach share In respect 10 which with
travail is desired with interest at
,er cent per annum, compounded
The American Telephone 4 Telc-
,raph Co. has paid In dividends the
'ast thirteen years So per share per
uarter or s per cent per annum and
o far as the future can be forseen
~ believed this rate will be main
aimed This depends upon the COM
lany's continued ability TO earn diyi-
ends which in turn rests to large
xfent upon the continued loyalty ami
niciency OF the Bell system employ
At present more than 10000 cm-
i0yes OF the Bell system actually wn
.mefican Telephone A Telegraph Co
tock or are paying on shares.
The announcement OF the plan ror
took purchases by employees calls at
euti0n 10 the fact that "a the war
mergency Is being left III the past
here is noted a gradual recovery and
feady Improvement Of service and
hat voluntary testimony 70 this effect
J being received In considerable vol