The Birmingham age-herald., 1924-07-17

F. $. Phillips, who started as retail clerk with the company, is only 31 and not one of the other fifteen new owners is over 40.
 Is this giving away of business go- ing to become permanent feature Of American industrial life?
 The first instance or two were re- garded merely as freakish acts. But the fashion once having been set. it is steadily gaining in favor.
 Here are some of the businesses which the owners have handed over to employees in the recent past:
 These are cases which have come under the observation of the writer and doubtless there have been not few others:
 Henry A. Dix and Son, Inc. (manu- facturers of uniforms and standard dresses) of New York.
 l. Heller and company (dress manu- facturers) of New York.
 M Martin and company (pioneer manufacturers of undergarments), with plants at Brooklyn, Scranton and New York.
 Charles Thorley (Fifth avenue flo- rists) of New York.
 John Borg (stock broker) of New York.
 Joseph H. Cohen (cloak and suit concern) of New York.
 Northwestern Terra Gotta company Largest manufacturers of terra cotta products in the world) of Chicago.
 LaDue Brothers and Drummond Ire tail hat stores) of New York.
 Schindler Realty corporation (real estate and insurance) West Hoboken, N. J:
 Other employers have. taken to pre- senting large blocks of stock to their workers.
 The newspapers only week or two ago recorded the distribution of some 100000 shares of common stock by George Eastman to employees of the Eastman Kodak company. This stock was not a gift of the company, but a gift out of Mir. Eastmans own pocket. Mir: Eastman has given away in the last fifteen years probably between $4e,00O,000 and $50,0QQ, 900. He is a 70-year-old bachelor
 Then there is Golden Rule" Smith, the Cincinnati clothing manufacturer, whose latest gift to his workers takes the form of turning over his share of the 100 per cent stock dividend de- clared. by the company last May. While Mir. Nash plans to retain con- trol for five years; in order that his employees may be thoroughly trained to run the business, it is his intention that control of the business should pass into their hands.
 dxrOor of profitable women's speciality house, is donating 45 per cent of the $4,OOO,OOO capital stock of the firm to his em- ployes. The distribution is to be strung over a period of years. The first S250,000 was divided among the IS employees who had been longest with the house. Mir. Bendel explained:
 My purpose is to perpetuate the house, as well as to reward it's em- ployes for faithful services which have made possible it's upbuilding. I have no intention of retiring. Originally I planned to turn over, in my will, a part of the business to my employees, but have decided to carry out the scheme now, So that l can get pleasure out of it, too.''
 Somewhat different, yet having its place in the recital,was the beQueath- ing of the New York Banknote com pany, by. it's owner, George H. Kendall, to his experienced secretary Ga woman), whom he described as better equipped than any other person to continue the successful running of this enterprise"
 Atlanta has had it's Golden Rule" employer, namely, John J. Eagan. He was noted for his generosity to his workers and others and when he died recently he left a large block of the stock of his company, the American Cast Iron Pipe company, located at Birmingham, Ala, to his employees. An idea of the value of this gift may be gathered from the fact that the first years profits on it brought more than S400,000 to the workers.
 Now, is all this merely a passing outburst of generosity on the part of a relatively few large hearted em- ployers?
 Or does it mean that a fundamental change is under way in the minds of successful Americans owning their own business?
 am inclined to think that this de- velopment will continue and that it will greatly broaden.
 Why?
 The answer will require a whole column.