PROFITS FOR WORKERS.

Star (Christchurch), Issue 11028, 17 March 1914, Page 7

PROFITS FOR WORKERS.

TEN PER CENT. DIVIDEND. Mr Theodore C. Taylor, M.P., head of the lirra of J. T. and G. Taylor, Limited, woollen manufacturers, of Batley, at the annual meeting of the concern, said that since the scheme of profit-sharing was introduced twentytwo years ago an average dividend of 10 per cent on capital had been paid and over £130,000 allotted to the workers in bonus shares, dividend and interest. All the time the standard rale of wages for the district had been paid by the lirm.

Mr Taylor also announced that, for the past year a cash dividend of 10 per cent on shares would be paid, and a bonus (given, in the shape of fullypaid shares) of 5 per cent on wages would be allowed. Double bonus—viz., 10 per cent—would be given to all employees of not less than twenty-oue years of ago who had boon with the company at least five years and owned shares equal to half a year's wages. Bv way of illustration, Mr Taylor pointed out that an employee entitled to double bonus, owning fifty £1 shares, and whose wages for last year amounted to £7O, would receive 10 per cent cash dividend on his fifty shares—that was £s—and 10 per cent bonus (in the shape of shares) on his wages, £7O- - was £7—a total value of £l2, equal to an addition to his last year's wages of 7d per week.

Mr Taylor commended profit-sharing to the consideration of other firms, and (says the '' Daily News ") characterised as a foul slander the suggestion, sometimes made, that profit-sharing firms first "took out of the workpeople" what they afterwards paid in bonus.