The Indianapolis times. [volume] (Indianapolis [Ind.]) 1922-1965, 1933-12-08

he city, was adopted in lieu of an
NRA regulations.
Representatives of the general
council of the employees, who an
nounced the profit sharing plan,
stated that the agreement is an evil
dence of good will between employ
ers and workers and will preclude
the possibility of threatened strikes.
Under the terms of the agree
ment, effective Immediately, en-
ployes of the company will receive
25 per cent of the total gross rev.
enue. The wage scale of 49 to Sc
cents an hour for the more than
1,400 employees working on an hour
ly basis, will be maintained. Sal
aired employees and executives are
not effected by the plan
Executives Not Included
Adoption of the sharing
plan was announced today by Arthur
Rountree, T. J. Syres, Rudolph
Geisler and John w. Staley of the
general council of employees follow
ing meeting yesterday with
Charles w. Chase, president of the
traction company.
The plan effects motormen, con-
ductorS, bus drivers, repair and
linesmen, and all other permanent
workers employed on the hourly
basis.
Employees of the indianapolis
Railways and Peoples Motor Coach
Company worked seventy hours a
week before the advent of NRA,"
said Mr.. Rountree, spokesman for
the group. Then we were reduced
to forty Eight to f1fty-four hours a
week.
With the cuts In hours our earn
ing power was reduced. The men
agitated for more money. We felt
it our duty to go to the company
and ask for an adjustment Of hours
and wages to permit us to earn a
living wage. A petition asking for
an increase in pay was filed two
months ago.
New Equipment Purchased
Several meetings we're held and
finally at the meeting yesterday
company officials showed us that
the buying of a tremendous amount
of new equipment-some $2,500,000
worth-Was eating up all the earn
ings.
In a spirit of fairness, the COM
pany offered a counter proposal
whereby the employees will share in
the future earnings of the company.
This seemed fair to us, for statistics
Of the company show that the in
stallation of new street cars have
increased the earning of the COM
pany II per cent, while the addition
of trackleSs trollieS show an increase
in earrings of % to 80 per cent"
According to the present setup of
the plan, the total gross revenue
from all sources shall be deducted
as follows:
/. Operating expenses and taxes
2. Interest on bonds, notes and
miscellaneous obligations and div
idend on preferred stock.
3. Depreciation.
4. Amount required (Which shall
not exceed 5000 in any one month,
including depreciation to provide
for payment of principal on account
of the purchase of new equipment
or other improvements which have
been financed over several years and
for miscellaneous obligations.
Effective Until 1888
5. The company's share of any
expense of any pension retirement
plan which may be adopted.
Leaving the balance to be ap-
portioned Is per cent to employees
under the profit sharing plan and
Is per cent to be retained by the
company.
The first basic unit shall be from
Dec. l, 1888 to and including March
81, 1884, and thereafter each three
calendar months
In conclusion, the agreement
states that the employers and en-
ployes that the profit sharing plan
shall form the basis of participa-
ton in the increased earnings of
the company, effective as of Dec. 1,
1888 and until Dec. 81, 1885. and
that during that period no change
shall be made in the present wage
scale or existing bonuses.