Profit Sharing

The following pointf, taken frum a clrculnr (anued by Presiilent Asliley of the T. A. A. & N. M. R U Co., to the Mook bolden, cxplaius h niethod of his by which a milleniuin is souaht to be worked out. He snys: The dtreet allotment to the laborer of a (liare In the prolits produced by bis labor la a inethod of distribution ns old rs 1 1 11 in m ii history; a method older than the "wajte sysiein," aud one for which we have the upprovlng judsruieiit of uiany of the Mhii'st tlunken botli in tbU country, nd in Elirope, 1 pfopote for tlie benefit rif uil who now Kre, or who herenfter muy be, interested in the prosperity of tliis eonipmy, especlillf its ottlcittls and employés, to blend wiih tlie present wa#e system the more aiiclent mul equilablc one of "profil sliai itifr." I ¦iuhiiiit Ihis propo-Hion for Ihe ap prov.i! c.f tbe stockholders, becaute 1 believe that Ihe two systems, if properly united mikI practlcally adnilnisteied, Wil] be Deeliled iinproveiient upon the wajje syslein, and advitiitatteoiis. alike to einplojer and employed. For inany years I have favored substantiully Iho plan of co-oprativo labor and "protit ihartog," which 1 now propose tur ailoption by this company. In m y opinio we have reached a period In the history of the "Ann Arbui" Compiinv. whicli justitie me in siibmittiiit; tlie piop'isiiions hereinafter made to the stockholders, tor thi'ir ratiticiition or rejeclion. And a-i I lo nnt eluiin that the method t iitfli Iblltton proposed is beyond impnvein-nl, Icordially invite such anieiidmeut in:iy PUïgedl tliemsilvfS to :inv (il the liukliiiile's or eiiiplnves who iniy nceive :i printed copy oi these pioui-(il IQleBSIlU ref.'iilliolis. lst. The Toledo, Ann Albor A North MlchlgRo Rallway Company bereby -tipnl iiei :iih1 torree to pay to iwk ot is offloen (exoept iis presiiient), umi to al! Itt eiiMilciyi-is, a ilividend, as providtd iu ilir lef in and oondMoiM followiiijf : All (iffliiiils iiikI employés of suid company wlio sliall have liten conthinoiislv in ils scrviee for tive years or more, hall in addition to Ihe recular want s paid to ncli, reeoive an iimount which sliall (in il (hu proportion hereinaftor named ol lucb ihvidends on ils capital stock as may le deelared by the board of direotors of thls company Iu ny year. Üd. The basis on whieh a proportion of the dividends earnec! iiy this eompany nretO be paid to each illicer and employé shall be BI follows : The board ol directors, wheo declaring a dividend, shall add to the total anioiint Of i ipital stock outstanding, the grosg slim pald by the company In salaries and wiip-s, t'or the preceding year, to all U employés and officials (excupt its president), who gliall have been continously in its service for the tive years next preeeding the declarations of stich dividends, iindficli of such ofticfrs and employés Hliall be entitled to receive in any year in wliicli a dividend sliall bc deelared, a dividend on an ,'imount equal to his salary tot the year preceding, a if he were the OW lier of a number of slmres of the capital stock oí tlie company, to a like aiiKHint. at their par value. gd. Evcry offleer and employé, who ? hall bare been in the service of the canipany contiinioiily for twenty years or more, and voluntarily retires from its service with an honorable discharge, shall be entitled to reei ive, and have delivered to biui a certifícate of the full paid np capital stock of the company, whieh fhall equal in auiount at lUparxaiue, the total ruin paid hlmafwagci for the last year ba was in the service ot the company. 4lh. If any offleer or employé of the compaiiy as aforesaid, shall be so disahled, while in Ihe line of active duty, a tobe unable to resume his place fora pei Kid of i-ix inoiiths or more, he shall lic entitled to receive a eertilie ate of Ihe lull pald up Capital stock of the company, which shall equal in anioiint, at itl pal value, the loss mm paiil lilm for the war mmcdiati-ly prvcedina his disability. Aixl if any ofticer or employé shall lose his lile while in the line ot active duty. his wifc, if he has one, and if not hls leral repreientativo, slmll entitled to receire a certifícale of the full pald up Capital stock of the company which shall rqnal In amount at its par value, live times the groisum paid liim for the ye ir next precedinjr hifi death. l'rovided, however, that this rule shall not apply in cases where a claim fo.' dauiaies is made in the equrt. Stil. These rulesMid toneliinjf the mode and manner ot payiiiK divUlendsand stock allotnients lo the otllcers and employés ol the company, shall not be ameuded or abrogiited except at a regular all OU1 meeting Of the slockholders ot this company, and then only aftir due notiec hns been ffiven to the stockholders, thirty ilays prior to the said regular anmial Uieetlnf, that n propositlon will be made at sald meeting to ainend or abroante said rules and reffiilationn, 'hich notice shall he publifh by Ihe secretary, with a printed statement of the chance or ehilDffél proposcd. fiih. The president and tinard of directors shall have the power and authority i essaiy to carry into eö'ect Ihe forejioing pian ol irotit shariiiR and stock allotment. In tlie practical administration of ;reat corpotate trust", especially in the case of B railroad eompany, one soon learns, as he cannot learn êlsewheie. liow abtO lutely iue arabic are the Irue interests of e.uiiial and labor. Thls plan of allotment is proposed n the confldent belief that t will larjrely Increase the net;earninjis of the company, and promute zeal, economy and general tUlciency ; that it will ilso prove ilself to be.a valuable êducatör, and téach the neceaiity of sobriety and fi'lelity ; and that mutual conlidonce and goud will is botter loi1 all tli. in coiilentions aiul strikes. If this plan of allotment and paying dividend is approved by the stockhoklers and is fairly tcsted, it is expected that the entlre iliivdend pakl by the eompany in nny one year to ita ollicers and employés, will be inore than earned by eaviniís f rom lossaiid waste. AimI wIhmi eaeh offlcer and employé is properly duaated, he will understaiid that whenever he permits causes a use les waste, or by negligence or disobedience of orders an accident results, that he always brings upon himselt' and his associate employés, a loss proportionately corresponding to that suffered by the company. The edncfttion and discipline which the plan of " pruilt sharing" and stock allotment above proposed must of necessit. intri diicc, will, it is nelleved, be of }reat economie value in sccurlng to the company the kind and character of men, wbo will desire to remain witli it. Natnrally enough, the sober, industrious and competent men (espeially tbosa with families), will seek and remain in the etnploy of a eompanj' which recognizes the plan of "profit sliarlng" as herein proposed, and imtiirally enongh evcry températe, prudent man vriio saves his money, will prefer the same olass of men for lila assodates, and the company can iely on such men to aid it in securin;; and kecpin; only the best and noel Uustworthy men iu its service. As a rule, Bfet températe aaTlntC man is a lii'tiei" workman and more ruliable thau one who is intcmperati: and improvklent. 8ucces8ful economy on the part of an employé, briügs stability and content' ment. Every intelligent, competent railroad manager estuuates sneli a man at his ai'iual wortli, and desire to lilCTOHie his wages in proporlion to the anioiint which lie saves or parns tor the cnmpany, and nothiug can be inuic fjiatifying to such a manager than to sea his workmen s"curing homes of their own, aml layiug iip siiniethiug tur a rainy day.