The Ypsilanti daily press., 1945-12-15
HAT TER and
. q Fact or Two

~ OSi VI iWO
Few people realize that Ypsilanti
Is the legal residence OF a railroad.
A financial publication on Thursday
carried this announcement. Detroit
H!llsdale and Southwestern voted
dividend of {2.OO, payable. Jan. 5.
1916 to stockholders OF record Dec.
20 This railroad Is the branch
running from Ypsilanu, down
through Saline 10 Hillsdale and
thence to the main line OF the New
York Central a. Elkhart. The road
Is leased to the New York Central
Railroad and when they pay their
rent, the stockholders get their
dividend. The annual meeting is
held at Peninsular Paper Co. Daniel
l.. Quirk. Jr., being the only stock
holder present. There are several
hundred stockholders, Mr.. Qulrk
owning one share. but proxies are
sent by New York Trust company
and he holds the meeting and
elects the directors as a part OF the
procedure. After all. this railroad
does pay a dividend which is some
thing that cannot be said about
some OF the biggest systems In the
country.
Many people are asking. Isn't
there some form OF profit sharing
that can be substituted for the pres
ent industrial turmoil. certainly
some answer must be found for
jungle-like methods OF settling ar
guments?" Well, profit sharing isn't
particularly new. It's been tried be-
fore. For instance, Henry Ford
started profit sharing in 1920. Gen
eral Motors have had profit shar-
ing plans for over 20 years. Mr..
Ford's statement when II was start
ed was, that employees share In
the prosperity OF the company"
In its beginnings. per cent was
guaranteed, but this was reduced
to As per cent tin 1888. Ford be-
lieved there should be more oppor-
tunities for substantial investment
in business. Employees were per
mitted TO invest up TO one third o.
their earnings OF any one year. At
its peak, $4,000 members had de-
posits or investments OF 25 million
dollars. Once each year directors
met and determined the amount OF
return that could be paid. The re-
turn was as follows: 1920, IA per
cent. 1921 and 1922, IL per cent;
1928 and 1924, IA per cent; in 1925
and 1926, the last two years OF
Model T. 16 D er cent; 1927. 10
per cent; 1928, 6 per cent; 1929. s
per cent; 1880, 10 per cent. In the
remaining years. between 1888 and
1945, IA per cent was paid twice,
per cent. three times; 6 per cent
once. and 5 per cent, six times. In
l94l company attorneys stated that
under the Governments Securities
and Exchange Commission, 1t would
be government regulated.
And so the plan was frozen. No
new investments we're permitted
Employees could either leave It all
or withdraw 1t all, as they wished,
There are nearly 5000 employees on
the rolls now. The weakness OF
profit sharing Is that there might
be a company that would lose mon
ey. Who would share that loss!
There's the rub, in profit sharing
Most people would be glad TO share
profits but not many would agree
10 share losses.
Four days OF cold weather and
no ice on Island Park. Schools
close today. it is pointed out and
Christmas vacation is just ahead.
"Why can't we have ice now,
that cold weather has set in" rink
fans ask. Spraying should be well
under way.
Ypsilanti people driving from
Detroit Friday night noted that
hundreds were skating on the lake
at Ford Motor Co. offices in Dear
born. Assuming that cold wealth
er will continue. the vacation per.
iod OF the holidays affords the
largest opportunity for school chill
dren to enjoy winter sports. Why,
ask the fathers OF children who
want to skate. why can't the city
authorities be ready when a cold
snap comes to take advantage OF
the opportunity for good skating
which appeals to 80 many young
people?"
OFF THE TEXAS shore in
the Gulf OF Mexico a tarpon
leaped into a boat and knocked
the fisherman out OF II into the
water. Bet the critter has a
tough time getting the other
tarpons to believe THAT hsh
story
Junior insists on getting
sleigh for Christmas-even IL
Santa Claus would have TO
hiteh-hikt home.
orundpappY Jenkins wonders
how come Brifuin. which 10 q
tsa-drinkins notlon. con get inio
oil ihot trouble over JaVa.
|
Somebody Is now urging that
the United states have an an
nual Old Maids Day. This
would be one holiday no one
would celebrate-especially the
old maids.