Evening star., 1924-11-18
GOLDEN RULE NASH
BATTLES PROFITS
Tailor Threatens to Become
Millionaire Despite His
Fight to Prevent 1t.
Special Dispatch 10 The Star.


NEW YORK. November 1S.--If
Golden Rule Nash, Arthur Nash Of
Cincinnati, the man who refused a
$4,000 salary, remains firm in his
resolution not to become million
sire, it looks as If he has difficulty
ahead. The business of the A. Nash
Company, wholesale tailors, contin-
ues to multiply, and last May his
company converted $l,000,000 sur
plus into 100 per cent stock divl-
6end
Mr.. Nash refused to accept his
allotment and turned over to his en-
ployes shares representing $4,000
The surplus was rightfully theirs, he
declared. maintaining he already had
his share of what they had earned
jointly. He would feel like a thief.
he said, if he took the surplus and
thus became millionaire.
Meanwhile, the miraculous growth
which increased the company's assets
from $4,000 to s2,000,o00 in little
more than five years is continuing
This years sales will more than
double those of 1922, Mr.. Nash said
when he was in New York recently.
But though he still declares he does
not want to become millionaire. he
refuses to predict anything about
future millions. and contents himself
with distribution of the 100000 he
already has turned over to the work
ers in his plant.
100000 In stock Taken.
The distribution began in August,
and so far about 100000 worth Of
stock has been taken Mr.. Nash said,
emphasizing that 1t was not entirely
a free lunch party when the melon
was cut.
I'VE increased our stock to $4,000
900, one million of the increase being
a stock dividend and the other mil
lion new shares" he said. when an
employe buys a share OF the new
stock / give him share, the limit
being two shares. We hope to have
1000 stockholders among our en-
ployes."
Thus for every share which has
been given away a worker has In
vested 800 in the factory where he
works Some 1.l00 employees have
invested 100000 in the company
since August and Mr.. Nash is holding
the remaining 1000 shares until they
can be taken over.
BY this means Mr.. Nash hopes to
establish real industrial democracy
In his plant, with the workers as
stockholders.
Since the original % employees were
called together to talk things over
the workers have increased to 5000,
but they still meet at least twice a
year to discuss matters OF policy, the
price OF the suits they make and the
salary of Mr.. Nash, which is unique
In that IL cannot be increased be-
cause he won't accept raise.
Risks All for Raises.
The story of the A. Nash Company
is one of the most remarkable in
modern business. Just after the war
Mr. Nash became owner OF small
garment factory. where he found the
workers in miserable surroundings,
some of them paid as little as 81 a
week He had been losing money in
the garment business, but was deter
mined to pay living wage, even If it
used up his capital. Pay was in
creased from 80 to 800 per cent.
I'VE are all sons and daughters Of
the same Father" he told the work
ers, assuring them that they would
be treated in accordance with the
Golden Rule.
In three months he found that his
- employees had tripled their pro-
duction.
Business was good, and by July of
1919 the erstUhile sweatshop was
moved to quarters abandoned by A
distillery. BY 1922 former brewery
building was occupied by 3.000 work
ers. Today the brewery building has
been torn down and in its place is
rising a s1,500,0o0 plart where 5000
men and women will make suits for
sale direct TO the consumer.
Depression Skips shop.
Just now is time of depression
In the garment industry, and other
companies are having a hard time to