COMPANIES BILL.

Gisborne Times, Volume LIX, Issue 9574, 27 July 1923, Page 2

COMPANIES BILL.

TH E 00-PARTXruSJIIP RCHEME. WELLINGTON. Julv 2G. d here was introduced in the House to-day a Bill with the object of enabling companies to issue what are termed "Labor shares. | Tiie Minister for Labor (Hon. G. J. ' Anderson) explained the principle involved. He said it was a .scheme by means of which a co-partnership could oe formed. The labor shares did not represent labor. Such a scheme was m operation in the Old Country and in the Auckland province. Hi; was very anxious tliat i- should bo brought into operation. It could not possibly do nay harm to the worker, and under the Bill there was provision that he must get the award rate of wages and be free in every wav. It would also give him a share in the management and profits of the business. The workers would benefit

and they could not possibly lose anything*. Jt had notiiing to do with wages and there was no compulsion. Tie thought it might do something to solve Labor dillivuities. Mr. Holland: Will there he any permanency about the shares? Mr. Anderson: Yes. as long as the company lasts. Mr. Armstrong: Will they have the same rights as shareholders? Mr. Anderson: Yes, just the same. An lion, member: Will the shares be on the market ? Mr. Anderson: I do not know that. I don't think so. The Prime Minister said that, when ho was last in England, lie was the guest of Mr. Taylor, of Taylor Bros., woollen manufacturers, in the north of England, and lie had then an opportunity of looking into a similar scheme was in operation in connection with the firm's works': Tie was shown over the mills and had talked with the employees, who expressed themselves as perfectly satisfied with tiie arrangement. The work of wool washing, etc., was not the pleasantest work in the world, but everything was going smoothly and the men there were splendid fellows, who took an immense interest in their work. Mr Taylor lmd told him that he would not go hack on the scheme in any way. Whatever Mr Anderson said, lie was anxious to get the Bill referred to the Labor Bills Committee. This was agreed to, the Bill being read a, first time and a second time pro forma, with that object.—Special.