Milford chronicle., 1938-12-09

frequency Tdlc kuuHlbcA VI AObt tAAis
injuries per million exposure hours
per payrolD of American industry as
whole for the year 1887 was 1885
the frequency rate in the dupont
company was 1.85."
Mr.. dupont summarized 10 of the
company's more important indus
trial relations plans:
Group life insurance, adopted 19
years ago, with 45,539 eligible en-
ployees holding policies aggregating
about $55,790,00 at the end of 1887.
Salary allotment insurance. in eff
feet 13 years, with $22.600,0 900 in in
surance carried by workers.
Group Insurance
Group accident and health insur-
ance, in force eight years, with 97.3
per cent of all eligible persons in
| sured.
Disability wage plan, adopted June
Is, 1887, with entire costs paid by
the company.
Benefit plan, in force 20 years.
comforting certain benefits in cases
of disability.
Pension plan, operating for 80
years, with $620,789 paid to pension
ers under 1t in 1887.
Vacation plan for wage-roll en-
ployees, in effect for four years,
granting twO-weeks vacations with
full pay.
Savings plan, in effect 13 years.
with 7,04O employees having S1,149.-
5S7 saved at the end of last year.
Bonus plans, with 249 persons re-
ceiving "A" bonuses, and 1910 "B"
bonuses to share $7,593.O0O early in
1888.
Medical Division
A "well-organized medical divi-
sion" with physical examinations az
intervals that make it possible to
discover early symptoms of organic
or other illnesses, thereby decreas-
ing the time required for treatment
and recovery, thus avoiding suffer-
ing and loss to employees from pre-
ventable Illness"
Mr.. dupont said he believed "in
paying high wages based on efficient
performance, and believe in re-
warding well those who carry the
responsibility and accordingly take
the biggest risks in business.
"At any given time, external bust
ness and political conditions and the
decisions of management, frequently
and usually have a profound infiu-
ence on the rate of profits earned by
a business.
ITO the extent that the average
contributes to such pro-
fits, he should be regularly reward
ed in his pay envelope"
Employees Share I'm Income
However" Mr.. DUPONT continued,
"at a given time he may have little
direct responsibility for a higher
rate of net income, just as at an
other time his own degree of efil-
cheney may have little to do with
losses incurred.
Hence, it seems to me that in
general those directly responsible
for the management of a business,
as we'll as the stockholders or own
ers, should properly share the great
err risks. D.. --~.. -... ..,.. .,., .,...-...,
Their rewards should be higher
when the business is prosperous and
less when times are hard. Whereas
| believe the aim should be to make
the workers income as stable as
possible at a relatively high level,
always with opportunities for per-
sonal advancement as merit is dem
Onstrated."
In taking a stand against both
profit sharing systems and incentive
lfefnnaA NTH I
three other witnesses who appeared
before the! committee during the
lay.
Publisher on Stand
Frank Gannett, Rochester, N. Y,
publisher of the Gannett newspa-
pers; A. L. Marsh, Detroit manufac-
turer, and Willford |. King, New
York University professor, all en-
iorsed the principles of profit shar-
ing and incentive taxation to en- !
courage it.
Mr. Gannett asserted that the Op-
Grafton of profit sharing systems on
his newspapers had proved a bull
wark against labor disturbances and
had increased efficiency and profits. :
Talking to reporters after the
hearing, Mr.. DUPONT said he did no;
believe that business was prepared ,,
to take up the slack in employ .
ment that would be Occasioned by
a sudden cessation in government
spending. ;
Nevertheless, he said he thought
a start should be made toward eco ,
nomy in that portion of. the govern ,
ment budget not represented by re-
lief appropriations. He blamed high !
taxes and the fear of possible future
punitive taxation for lack of bust ;
ness enterprise.
Mr.. dupont said he thought the 4
national labor relations act should =
be amended to permit employers to
discuss labor conditions with their :
,
'An employer ought to be able to I
talk things over with his employees ;
and they ought to be able to talk
back" he declared, observing that 7
the laws provision against coericon /
of employees had been interpreted /
so as virtually to prohibit such con-
q
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