COAL - Clpdigital.org

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ployes. The statement has been made that this
friendly feeling was endangered in the recent temporary
passing of the dividend. There never was
a particle of truth in this statement, because any
dissatisfied employe is entitled to receive his
money with five per cent, interest in place of the
stock.
That the employes appreciate the opportunity
offered through the Employes' Association ami
have confidence in the future of the conipany is
evidenced by the fact that the temporary suspen-
THE COAL TRADE BULLETIN.
month, and the contracts in the new series so
greatly exceed the contracts matured and the com
tracts canceled to date that there are upwards of
14,000 shares contracted for at this time. Employes
are given the greatest freedom as to the
number of shares that they may pay for in this
wav and as to withdrawals. They may cancel
their contracts at any time upon thirty days'
notice and receive back all of the money paid in
plus interest at the rate of five per cent, per
annum.
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sion of our preferred dividend has not materially
reduced the total of shares under contract for
delivery to them upon which they make monthly
payments of one dollar per share. A year ago
this total number of shares of Pittsburgh Coal Co.
preferred stock contracted for by the employes
was about 8,300. of which 2,623 have since been
delivered to them in the closing up of the first
thirteen series of purchase contracts. Under the
plan a new series is started on the first of each
In addition to the 2,623 shares already acquired
by the employes through the association on payments
of $1.00 per month per share, there have
been not less than 4,000 shares purchased outright
by employes through the association.
We also inaugurated a death and accident association,
with a lodge at each mine, the expense
of which is in part borne by the company. We
also established an old age pension fund, to which
the company contributes aid and co-operation.