Where Employers Share Profits

Greymouth Evening Star, 25 June 1927, Page 9

Where Employers Share Profits

A Happy Band of Workers Profits equal to more than four weeks’ wages were handed out to each of 2,000 employees of Messrs. Clarke, Nickoils and Coombs, Ltd., the chocolate and sweet makers, at a mass meeting held at the People’s Palace, East London. A similar sum will be distributed in August, bringing the employees’ total share in the prosperity of the firm up to £27,000, or over eight weeks’ pay. So carefully had the share-out been arranged that the payment of the halfyear’s £13,500 took less than five minutes. Originated in 1890, when £1,400 only was distributed, the firm’s profit-shar-ing scheme has already distributed £585,000 among its salaried staff and wage-earners. In each of the three “boom” years, 1919-1921, the sum of £47.000 was distributed. No dispute has ' ever occurred between the management and its staff; 75 per cent, of the male employees have 25 years’ service and over, and of the women. 12 have completed 40 years’ service. While waiting for their profits to be paid to them the girls and men gathered In the hall, sang choruses, and listened to the playing of their own band. z / The employees were addressed by Mr. Mathieson, the firm’s chairman, who helped to found the business over 50 years ago, is now 84, and attends the office every day at 8.30. Profit-sharing, he said, had never had a fair chance in this country. Forty years ago labour was prepared to welcome it; now most of the trade unions were hostile, mainly, he thought, because of the insane craving for mass action. Capital was to blame as well as labour for this. The bonus paid to them was equal to 15J per cent., or a little over 3s in the pound.