PROFIT-SHARING AT IVORYDALE 51
their savings in a building association, founded in August 1887, and managed by Ivorydale people. Two and a half years after its establishment it was able to report that eight men had pur- chased lots, and twenty-two had built or were building homes. The association had $24,000 in mortgage loans, 95 per cent, of which had come from Ivorydale. At present the association is used as a savings bank in which many of the employes have neat balances to their credit. The association has handled $320,749.07 paying semi-annual dividends which have averaged slightly over 6 per cent, per annum. No losses have thus far been incurred.
An unsuccessful effort at distributive cooperation (in the way of a cooperative grocery) has been made. For about a year there was considerable interest, but it gradually oozed out and the concern was put upon the regular stock company basis, which put it under disadvantage as compared with competitors, since, owing to its location, some distance from the main village, it had little or no local trade and had to look elsewhere for its business. It finally succeeded in building up a fairly profitable trade, but as it has failed of attaining the original object, it is now being wound up and will pay off its stockholders in full. The facts that only about one-half of the employes live near Ivorydale, and that these did not take the interest necessary to make the experiment a success, are responsible for its failure.
The provisions for the physical and social welfare of employe's at Ivorydale are also worthy of mention. The machinery is so well guarded that injuries are infrequent. In case of accident, however, employes are given full pay. The company endeavors to promote the health of the people by furnishing light and airy rooms, well heated in Winter, and cooled by fans when necessary in Summer, and by providing a physician, whom they are at lib- erty to call upon for service at any time each day, and who is subject to call at any time by telephone from the office or else- where. A dressing room and lunch room is provided for women, which is kept neat and clean by each girl taking her turn in keeping it in order. It is well lighted and provided with tables and chairs. Pictures are on the walls, and a motto which reads,
