Then followed several meetings of the directors,
at which it was finally decided to issue the following circular:
Official Notice, No. 27.
Offices of The Harris-Ingram Steel Co.,
400 to 410 Brough Building,
Harrisville, O.--
_To Whom, it may Concern_,--
For the purpose of better promoting the harmonious workings of capital
and labor, The Harris-Ingram Steel Co., Limited, has been organized,
and its scope of co-operation has been planned on the following
basis.
Capital Stock of the Harris-Ingram Steel Company $5,000,000
Total number of shares 500,000
Par value each share $10
The liability of each stockholder is limited to the amount of stock
held. Half of the entire stock of the corporation shall be owned by
so-called "capital," and half by the employees of the company, or
so-called "labor." The stock issued shall represent the actual cash
expended upon the plant, and employed as a working capital. It is the
wish of the management that each employee in the steel company shall
own at least ten shares of the stock, and more, if he so desires.
All the stock bought is to be paid for in cash.
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