Evening public ledger. [volume] (Philadelphia [Pa.]) 1914-1942, 1922-04-14
n. Il. Men "a Keep
Wage Bonus Intact

Csntinusa from rass One
the rolls and within forty -cight hours
001s per cent Of the full personnel Of
the system had approved the idea.
The employees, BY their vote. decided
that their money should be kept intact
in the company and cmployc bank,
earning interest for them and to be paid
to them only when they leave the en-
ploy Of the company or to heirs in the
event of death.
In appealing to the men for this step
Mr.. Mitten said in part:
II agreed to the purchase Of 10, 900
shares Of p. II. T. stock, for the Co.
Operative Welfare Fund, because we
saw that the dollar for dollar contrib.
uted BY men and company to that fund
was proving insufficient. With the
$3.50 900 surplus Of the fund invested
IN p. II. z stock. producing o per cent
on on our 10000 shares. equaling $30,.
the dollar for dollar will be sufficient
to carry us through. Then, too, the
earning of this @ per cent depends en-
tirely upon our own cooperative ef.
fort.
Dv1ued on 0.OperattOn
''The CO. operative wage dividend is
being earned by the combined and co.
operative effort Of us oil, and should
be kept together 70 that its combined
strength may evidence our financial re.
sponsibility.
Just as formerly counseled you
to deposit your extra wage with the
saving fund, with what result you well
kr~ A. A...-
over the cooperative wage dividend,
when paid, to a committee Of your own
selection. consisting Of four trustees
who, with the Cooperative Council,
should be empowered to act for you.
THE cooperative wage dividend in
the hands Of your committee should, of
course, be subject to withdrawal by any
employc who leaves the service. the
same as in the saving fund. and In case
of death should be paid to the family.
I'VE are preparing ourselves to act
as principals. 80 that We may partici.
pate in profits. To do this we must
keep our co-operative, wage fund to.
gether. so as to be able to speak with
the authority Of capital. We must be
prepared to take the risk that capital
takes in making investment, excepting
that our risk will be less, for capital.
in making its investment, never knows
how far it may safely depend upon
labor.
Labor to Hire Capital
Capital has always spoken authori.
tatively because of its money power.
added. are stronger than is capitai
alone. We here. BY keeping
our cooperative wage dividend undi.
vided. can together. as time passes,
more and more effectively function as a
principal in the hiring of capital aa
against the heretofore universal nroc.
ticc Of capital hiring labor"
Mr.. Mitten and Mayor Moore dis.
cussed the operating agreement OF the
Frankford elevated line for two md n
half hours yesterday, but the conference
ended with them deadlocked on the o,Ies.
tion. Apparently the settling of the
agreement terms will be up TO Council.
and II there is speed in the adoptIon
of the agreement II is expected that the
high. speed. line will be in operation by
next autumn.
Director TwininR. City Solicitor
smyth and Richard Weglein. president
Of Council, intermittently took part in
the discussion yesterday. The Mayor
and Mr.. Mitten apparently found very
little in common upon which they could
agree.
Even when it came to discussing the
probable date on which the Frankford
elevated could be operated no settle.
ment could be reached. so that hurry
call was sent out. to company and city
engineers to get together next Tuesday
and try to settle the questions their
peers had failed to solve.
Message Withheld
The Mayor. convinced in advance no
agreement could be reached, had even
prepared a transit message to Council
urging municipal operation of the road
in lieu of what he regarded as reason.
able rental terms to be paid the city by
the Philadelphia Rapid Transit Com
pany. But the message was withheld
temporarily pending the conference be-
tween the engineers. The question of
operation Of the Frankford elevated
will then be up to Council.