CO-PARTNERSHIP.

Hokitika Guardian, 31 July 1923, Page 4

CO-PARTNERSHIP.

SOLUTION OF WAGES PROBLEM. WELLINGTON. July 20 An amendment of the Companies' Act which the Minister of Labor introduced in the House to-day aroused considerable interest, especially among members of the Labor Party, who were informed by the Hon. G. J. Anderson that it contained a proposal empowering the issue by limited liability companies of labor shares to persons in their employ. Ttie Hill follows the lines of a similar measure introduced last session by the Prime Minister. It seeks to overcome the legal dilliculty of issuing shares to employees of >i company, not for monetary consideration, but in proportion to their service to the organisation. Other features of the Rill were elicited from tin- Minister by questions pul to him from highly interested members. “(Toler what conditions will shares he issued?" asked Mr Holland. Leader of the Labor Party. The Minister: At the will of the lirectors. They will decide the proportion of labor shares to be issued to c-ach worker, and the interests of the worker are thoroughly protected.

The Minister added that if the House would agree lie would secure the formal second reading, so that, the measure' could go straight to the Labor Rills Committee, where important evidence could be taken from an Auckland gentleman who was interested in this attempt to make co-partnership a practical measure in connection with companies. The worker could not Inprejudiced. He would lie buitefliod and could not possibly lose anything. Mr Vciich : Are the shares in part payment of wages. Sir Anderson: They have nothing to do with wagesy The Hon J. A. Italian: Anythin;.' compulsory Y The Minister: No. 1 thought it was my duty to bring forward anything which appears to me to he helping to solve the enormous dillicullie.s of the question. Mr Masters: Is there any permanency about the shares Y The Minister: Yes. So long a- He worker i> in the same employ he will get whatever protit is coming to him. Mr Holland : Ho lias the sane rights as other shareholders ? The Minister: Yes. So long us the worker is in tin- sane- employ la- will get whatever profit is coming to him. Mr Holland : He has the same rightAs other shareholders ? The .Minist'-i : Yes. and a represeutalive the directorate. I do not know if labour shares inwld bo -old iu tin Tin- Prime .Minister commended tin principle to the House. He has seen it at work iu a large woollen factory owned be a I nrkshire niauutact urer. Mi Taylor, who look the greatest interest in explaining its working. Mr Massey added that he went through the mill and spoke to a number of workers, who expressed themselves as being perfectly satisfied with lhe arranvemellf. Their work was not the most pleasant in tin' world, hut everything s"eni"d to b: running smoothly. they were a ob-n----did lot of fellows, who look a great deal of interest in iheir work, and d •'flare:! that they would not go had; on it lor anvt hing.

The Rill was rood a first and time pro Inrniit ami •t. - to--• 1 to the Rnboiir Rills ('ommittoo.