EMPLOYEE SHAREHOLDERS

Nelson Evening Mail, Volume LXIII, 13 July 1929, Page 2

EMPLOYEE SHAREHOLDERS

A BETTER SPIRIT OF WORK “The day when the working men of Great Britain will own and control their own factories—not through any form of nationalisation or Socialism; but by legitimate purchase of shares —is fore-, shadowed by an offer by a Sheffield steel firm, which enables employees to purchase shares on the instalment system,”, whites Mr H. J. Hamblen, in the Edinburgh “Evening News.” “It is not generally realised that in the United States of America the entire capital of some concerns js in the hands of employees, while in others the employees form the largest or second largest group of shareholders. Employee stock-owner-ship in the United States has thus developed to the proportions of a move r ment which is of itself helping to solve the problems of capital and labour. There' are some hundreds of concerns ~which- have sold or are selling stocks and shares to their employees under various plans, and these plans are, in a number of instances, based upon the instalment method of purchase. The verdict of American experience is that, in its best form and in the most fortunate circumstahces, employee stock-owner-, ship promotes a better spirit of work. The employee who knows that many employees have a stake in the-property is more likely to respect the property. It has deepened his sense of responsibility for the success of the company as it has that of the employer himself. The employee feels that he is serving not one interest merely, but that those who will gain include many like liimself.”