£2,125,000 MORE
NUFFIELD GIFT
BENEFIT FUND FOR.WORKERS-
(British Official Wireless.) (Received December 1, 11.30 a.m.) RUGBY, November 30. Lord Nuffield announced today a scheme by which he will part with £2,125,000 of his interest in the vast organisation comprising ■ nine motor manufacturing companies at Oxford, Coventry, and Birmingham of which he has control, in order to create a fund under which the wage-earners employed in these businesses will share in the profits. For this purpose he is conveying into the hands of trustees one million units of recently-marketed stock of Morris Motors, Ltd., the dividends upon which will be utilised to build up a fund for distribution among the employees. "The scheme means that the men will become ordinary shareholders of the concern," he said.
(Received December 1, 12.30 p.m.) LONDON, November 30. Lord Nuffield says that his latest gift will be the last for some considerable time, as in addition to recent donations outstanding promises have never been larger.
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Bibliographic details
Evening Post, Volume CXXII, Issue 132, 1 December 1936, Page 9
Word Count
160£2,125,000 MORE Evening Post, Volume CXXII, Issue 132, 1 December 1936, Page 9
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