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Profit-Sharing Plan At Argus Gains 12-Fold

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Plan At Argus
Gains 12-Fold

Assets Of $531,935
|Reported At Dinner
For Employe-Members

Total value of the Arp-
ployes' profit-sharing fund
creased more than 12 times since
the plan was inaugurated six years
ago, in 1942, participants in the
fund were told Monday night at
le^mual dinner meeting in the
[icm§(6'n Union ballroom.

At th^/end of the -1Q/1'7 fiscal
year, assets&tf the funo 531,-
935, J. L. q^tnens, A-o-_ ,<'cre-
tary-treasurer, gold the 400 m
bers in interprag3|fl. the ann
statement. In 1942,i*pre total va
was $43,014.

Added to the fund during 1947,
hp noted, were employe contribu-
tions of $52,969, company contri! .
tions of $72,172, and a dividenc;

five per cent on the 2,000 shares (i
I Argus employes' profit sharing p' 'r
! rprrpr] s.tncit- owned by the fund.

1 totaled $10,000.
vl.^lt;;. Income

Interest on fund invi and
other fund income was i;^-.,-^.- dur-
ing 1947, Clemens added; Company
payments to the fund amounted to
about $1.40 for every dollar con-
tributed by employes, it was

Members of the fund are em-
ployes who contribute not more
than $200 annually. These pay-

?nts, in turn, are augmented by

portion of the company's yearly
; earnings. 0"i" persons who have
worked • .^secutive years at
Argus arc •,--o—•'•e•

After 20 years as a fund member
or upon reaching the age of 60,
employes are entitled to withdraw
their investment from the fund
along with earnings fror
investments. These <-
amounted to about 5.9 per cent
during 1947, Clemens estimated.

Following the financial disc":"
jsion, R. D. Howse, Argus presii'i
'^"fked informally about future p.u-

tion plans and thanked fund
,,..embers for their help in enabling
Argus to achieve its biggest peace-
time production during 1947. Ed-
ward Girvan, member of the fund
managing committee, acted as