Page:American Journal of Sociology Volume 2.djvu/62

 48 THE AMERICA* JOURNAL OF SOCIOLOGY

1887, October, 225, 13.47 per cent.

1888, April, 317, n.8o

1888, October, 302, 9.33

1889, April, 332, 12.13

1889, October, 309, 12.50

1890, April, 344.15-57

1891, January, 324, 12. 1891, July, 273, 12.

1892, July, 316, 12. percent.

1893, January, 326, 12. "

1893, July, 338, 12.

1894, January, 347, 12.

1894, July, 364, 12.

1895, January, 405, 12. "

1895, July, 411, 12.

1896, January, 469, 12. "

1892, January, 332, 12.

In order to encourage the interest of the employes in the business of the company the directors offer to assist them in purchasing stock. The plan is as follows : Upon application by the employe in writing, accompanied by first payment of Sio, the company will buy for such applicant one share of either the common or preferred stock of the company, as desired, at the guaranteed market price, subsequent payment to be made in installments of #5 or multiples thereof. All payments upon any share of stock must be completed within two years. Four per cent, interest is charged upon the unpaid balance, to the payment of which the dividends upon the stock must be applied, and the company holds the stock as security until the purchase is completed. At any time previous to the completion of the purchase the employe may cancel his agreement with the com- pany. Upon such cancellation, however, all money actually paid by him towards the purchase of the stock is returned, but the dividends paid or earned return to the company. The com- pany assists an employe upon only one share at a time, and reserves the right to withhold its offer from any employe. Under this plan 91 shares have been taken by fifty people; one taking 7, one 5, four 4, three 3, ten 2, and the balance in single shares. Under an earlier plan over 1000 shares, which are now nearly paid for, were taken by the clerical force and foremen. The company firmly believes in this form of cooperation. "A most marked improvement," says Mr. D. B. Gamble, "is shown by those who have purchased stock, not only in their ability as employes of the company but in the general character of the men." Although this plan has been in operation since 1892 the