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 PROFIT-SHARING AT IVORYDALE 53

the dividend, and the election of the pension fund trustees. The employes evidently took great pride in the meeting. The large room in which the exercises were held was tastefully decorated, and everything appeared to have been done by the employes to make the occasion enjoyable to themselves and their friends. The writer was told trjat they take special pride in bringing their families and friends on dividend days to show them about the place, pointing out their particular departments which, by their free-will efforts, have been specially brightened up for the occa- sion. The meeting was followed by a dance.

What now are the results of the nine year's experience in profit-sharing at Ivorydale ? In the first place, the company has attained its object of securing relief from labor troubles, there having been no strikes nor serious labor trouble of any kind since the plan has been in force. "We believe," says a member of the firm, "that it would be impossible to foment any such trouble among them now." As an illustration of how they feel we may mention that on several occasions some troublesome fellow has tried to produce dissatisfaction. The men them- selves have gone to the foremen with details of the attempt and the suggestion that the disturber be discharged. 1 The old feelings of discontent and distrust have been replaced by that of mutual interest. The expense of breaking in new men has also been almost done away with. Instead of replacing one-half of the employes each year by new men there is now a change of per- haps not more, on an average, than a dozen each year. It is the policy of the company in case of vacancies, to move up if possi- ble some one in its employ and to fill the lower position from outside, thus leaving always before each employe" the idea of a chance of promotion if deserved. Many of its best men started with the company as boys, some few having been with it forty years, and quite a number from ten to twenty years. About 50 per cent, have participated in the whole seventeen dividends, and about 90 per cent, have received the last twelve. The employe's are always on the lookout for positions for their friends, who as

t, May 2, 1895.