Rock County, Wisconsin; a new history of its cities, villages, towns, citizens and varied interests, from the earliest times, up to date . eville, N. Y., publishedin the Chicago Morning News his conviction that manufac-turers would eventually make all their employees partners in thebusiness. In his own establishment for making piano felts andfelt shoes he worked this idea into practical form and gave hisworkmen not only a share in the profits, but also a pension fund,which provided for their old age. At the present time (1908)this principle appears in the share-holding system of the NationalBi
Rock County, Wisconsin; a new history of its cities, villages, towns, citizens and varied interests, from the earliest times, up to date . eville, N. Y., publishedin the Chicago Morning News his conviction that manufac-turers would eventually make all their employees partners in thebusiness. In his own establishment for making piano felts andfelt shoes he worked this idea into practical form and gave hisworkmen not only a share in the profits, but also a pension fund,which provided for their old age. At the present time (1908)this principle appears in the share-holding system of the NationalBiscuit Company; the United States Steel Corporation adoptedit in the year 1900, and the American Eadiator Company, about1906. April 4, 1908, the New Jersey School Furniture Companydivided among its seventy-four employes $8,400 profits, havingbegun this profit-sharing with them five years ago. A notable example of this new principle and practice is foundhere in Eoek county in the Baker Manufacturing Company, ofEvansville. This company was organized in April, 1873, as thefirm of A. S. Baker & Co., to manufacture wind mills and iron. C. CAUR. SMALLER CITIES AXD TOWNS 665 pumps. In 1876 the total amount of cash invested was $12, 1, 1879, the net assets were found to be over $20,000and in February, 1879, the business was incorporated as theBaker Manufacturing Company, the capital of $20,000, consistingof 200 shares of $100 each. March 15. 1883, the capital wasincreased to $100,000, M. V. Pratt buying $10,000 worth of thenew stock at par and being made vice president. At the annualmeeting, held January 12, 1891, there was declared a dividendof 1 per cent on the capital of the company, the first dividendever declared, because previously the profits had all been appliedto the extension of the business. January 16, 1892, it was votedto offer thirty shares of the stock to the employes as an invest-ment. On January 31, 1898, a special dividend of 10 per centwas made in
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