The Bridgeport times and evening farmer., 1922-12-29
SELLS PLANT
 TO EMPL0yES
 AS A REWARD
Clothing Firm with An nual Business of $1,- 100000 Purchased for $55O,OOO.

New York, Dec. 29-The firm Of Henry A. Dix and Sons Company, with a yearly business of more shan a million dollars, has been so1d to it's employees.
 MT. Dix, who is 72 years old. will devote most Of his time to the ous- mess as honorary chairman of the board of directors without remunara- ton.
 Included in the purchase are the buildings in Millvilfe. Bridgeton e-5d somerville' N. J. with all the ma trade-name and ali of the trade marks, as we'll as the stock and equipment in the New York plant at 116 West Fourteenth street, which will continue to be the Headquarters. Since it was founded in 1895 the firm has manufactured uniforms for nurses and madis and house ana porch dresses for women.
 MT. Dix's motive was a desirs to aid his employees in a practical fash ion, his son. Marx Fl. Dix, explained. The best means of doing this, he de- cided, was turning over the business to them that they might reap a share Of the success which they had helped to build. The transaction. MT. Dix pointed out is, however. a sale and not charity of any kind.
 The new organization, under the name of the Henry A. Dix Corpora ton, took over the business on Dec. 26, with paid-in capital stock of $550,00O, and no current 1iabfTades. All of the common voting stock will be owned by the seven officers and direct ors of the company. Each em- pEoye who has served three years will participate in the common stock A, owning from $500 to $3,00O worth according to length Of service and position.
 Emp1oyes will be able to pay for their stock through an annual bonus of 20 per cent. on the stock affected to them.
 Seven Men In Control.
 Control of the new company, in corporated under the laws or New ork State. is vested in seven men, who have held responsible positions with the old company and who now constitute the board of directors. The officers and their period of service with the old company follows Pres ident. George F. Reiser. 25; vice president, Samuel Frank. IA; treas urer, Ralph Waltman, 20; secretary and general manager, Fred E. Frank and l. M. Nixon The name of the seventh director was not given out
 The idea of the sale dates back many years" Mark x. Dix said, "to mother over my father. Ten years ago she persuaded him to establish at once. instead of after death. by his will a hospital in the town of Mill vile, N J. The good accomplished by this institution gave my father so much pleasure that in 1920 he gave to the Young Women's Hebrew As sociation his country home at Mt kfsco, N. Y, to be used as a summer home for working girls of this city. At the same time he donated a fund Of 1000 for it's upkeep and pays the association rent for the one house on the property which he occupies. ..
 MT. Dix came to this country 30 years ago from Russia. He was then AZ years old and unable to speak English When a dry goods business he established in MillviNe. N J., did not make the strides he hoped for he turned to the manufacture of women's wrappers In 1907 MT. Dix moved the headquarters to New York. Since that time no salesmen have been employed.
 MT. Dix. a large, ruddy man. does not show his age. My interests.' he said, "are my work and nature. All the time that I possibly can I spend out doors.'
 Mark H. Dix said his plans are un- certain. He may continue with the busin ess, he stated, at whatever pay they consider him worth. He Is 1n- terested in art and writing, and par ticularly tRe question of capital and labor.
 The salaries of MT. Dix and his sor formerly were $60.000 yearly.