PROFIT SHARING.

Taranaki Daily News, Volume LII, Issue 266, 17 December 1909, Page 2

PROFIT SHARING.

By Oable.—Press London, December 16, Furness and Withy's co-partnership scheme has yielded the employee shareholders 9 per cen. and the ordinary shareholders 10 pet cent, of the wont cndei imUm f ° r th " nfae B " mth ' **" In November of last year the employes of the above great shipbuilding firm t Hartlepool accepted for twelve nonths' trial, by a majority of 10 to ine the offer made by Sir Christopher wness, M.P., to a number of repreentatives of the shipbuilding and allied rades unions to allow toe employees o become limitea the rms shipbuilding yards. The men were o take up ten £1 shares in tie comany, called employees* shares/ (paying for them, if they so dedred, by a dednction of 5 per cent, from their weekly earnings until the amount WM covered. On these shares 4 per cent, Merest was* guaranteed. The existing. Hiarehojders had 5 per cent, reserved to them Out of the company's profits, anv additional profit to bo divided between the ordinary shareholders and the men on the basis of their individual holdings. The works continued under the control Of a board of directors, bnt a works connbil was set up, composed of an equal number of representatives of the Ann and of the employees, to settle disputes and promote friendly relations between the firm and the men. fy was a condition that under the scheme no strike or IoA-out should occur.