DAY OF YOUNG MEN.

Taihape Daily Times, 9 July 1919, Page 5

DAY OF YOUNG MEN.

- _.o~-_-‘.__4. . The New York correspozldent of the London Times, reported in January that Edsel Ford, aged 24, son of Mr Hen{y Ford, has been elected President of the Ford Motor Company at {.l salary of £30,000 yearly? in succesvion. to his father, who announces his own retirement from active direction of the company, in order to give younger men a chance.

As his last oflicial act, the elder Ford raised the minimum daily -xvrtge throughout his factories to 24/, displacing the previous minimum wage of 20; -made effective four years ago. This minimum -applies to 28,000 emproyees, while there are 23,000 others who are receiving more than this sum. Ford, in a statement, says: “Tins is the age of young men, and I want 1:,show the World that I stand at the back of my belief that young meh are capable of directing big'business.” Mr Edsel Ford will thus have run executive control of the Ford motor car production, which represents an ?n~ vestment of £20,000,000. Mr Henry Ford will concentrate his own genius on the furtherance of the production of tractors, and will give some of his «time to a Weekly periodical he re-1 eently began to publish. ‘ _. Mr Henry Ford, the well-known auto«mobile manufacturer, was born at Greenfield, Michigan, on July 30, 1863. Before he organised the great company v which bears his name, he was chief’ engineer ‘of the Edison Illuminating Company, In the year in which war-I began he -announced his plan of profit-sharing, which .in his personal ‘application, involved the distribution of £2,000,000 annually amongst his employees. A . .