The evening world. Newspaper, December 28, 1922, Page 4

ee a “Employees Take Of $1,000,000 Owner. Gives Them cm With Loan ol $250, 000 to Run Tt}eisisss: Henry A. Dix & Son ¢ ‘ertain Unique ‘Experiment Will] %: . Succeed Despite Fr Employees in Controi. Six old employees are to-day at the head of the dress and nurs uniform manufacturing business wh tury was conducted by Henry A Dix & Son’s Company, at No, 116 W A. Dix & Son's Corporatio This business, doing a trac Ing to at least a million HENRY. A_DIX.. ally, was turned over to 115 employees and yesterday, with the announcement ef the transfer, Mr, Dix and his son, Mark H. Dix, received their last profit checks from it. The sale of the business to the em ployees was consummated on Dec. 26. For working capital Mr. Dix lent his former employees $250,000, The six employees who now head the business as new incorporators at Albany are: President, George If, Reiser; Vice President, Samuel Frank; Treasurer, Ralph Waltman; Secretary and Gen- eral Manager, Fred EK. Frank; di- rectors, Leslie L. Miller and I. N Nixon. ‘ Mr. Reiser started with the com- pany at the age of fourteen and has a record of twenty-five years wervice. He has been designer and generat su- Pervisor of the production of all garments. Mr. Frank has been for fourteen yeurs in chafge of the selling end, as well as giving his personal di- rection to (he execution of all orders. Mr. Waltman’s‘bervice covers a period of twenty years as the head of the cutting department and directing, to- gether with Mr, Reiser, all factory problems and policies, Mr. Miller has been for fourteen yrass manager of the plant in Bridge- ton, N. J., while Mr. Nixon® has served for twenty-two years, for the past twelve years as manager of the plant in Somerville, .N. J. Mr, Frank for the past eleven years has been working close to Mr, Dix in an execu- tive capacity, covering financial af- fairs, purchasing of materials and outliaing of plans. These directors own all the voting common stock, which .consists ~of 2,000 shares of no par value. ‘They have entire charge of the business and Tuesday had their first meeting in Mr. Dix's office. Mr. Dix offered Kis advice a number of times, but when they felt inclined to do so they rejected it. Of course, under the plan of the sale, Mr. Dix has a mortgage on all the transferred stock, because his em- ployees did not have the cash to make the purchase outright. All employees who have been vith the firm for three years or more will be the owners of Class A common stock, of whiih $160,000 worth has been autho’ ed for immediate and future allot nt. Under the plan, employees will | ave paid for the stock after ‘ix years. The new corporation will credit every year each person with 2° per cent, + af the amount allotted to him or her. Of this amount one-fifth will be paid in ash and four-fifths will be applied toward the purchase of the Thus the corporation will give to its employees an annual bonus, 80 per cent. of which will be applied to the stock price and the remainder will he kept by them. Mr. Dix, senior, said to-day that that the stock, totalling $ in two classes, the fi 000 of class A pre 000 of clans A other being $300,000 « does not pay ¢ by him as security t ment to him for the b stock will be retired in six years. The class A preferred stock 7 per cent. interest The paid in capital is $5 no liabilities excepting th price to Mr. Dix Mhe sale includes the bu Millevile, Bridgeton and 5 N. J. All salaries will continuo as at present, with semi-annual raises me tn the past. This unique experiment In bu neas management is being made by Mr. Dix and his son against th vice of their friends and att who told them it couldn't be * he 1 * Mr Dix : aid to-day in the “1 told them they did not know my emp! oon, 1 am sire they will be as suc- comeful aw | hoy been and | hope veelpegample will result in a better 2 Dix, later became the firm of Henry A THE EVENING WORLD, THURSDAY, _DECEMBER 2 28, BERNHARDT BETTER; | DOCTORS SEE RECOVERY: Barring TELLS OF A DYNAMITE Over Business | PLOT iN GEORGIA TOWN Homes of Co ers in Cofame Complicntions, Fanens Actress In Out of Dani PARIS, Dee Unt AME 28 (Associated Preas).— { Mme. Sarah Bernhardt rn for the better to-day, s had good night's rest, her sturbed to a leae degree other buildings are time since her collapse, and following Me. Morton's/ this morning she showed murked tm- provement. he he than at ar iends’ Warning—Old mors of such while the Nuch stock 1 made un] Pllc Unless omplications develop, the doc- tors sny that if Mme, Besnhardt tm- ich for more than a quyrter of a cen- follows thelr Instructions she is eal they had obtatned r perhaps a week, Tho it a dozen nen con- upon the adminsjon of visitors to ick room Im still In foree, but this alieged|morning Mme, Bernhardt received her son Maurice est 14th Street, and is now the Henry appreciation of the workingman’s side of the capltal-labor question.”* la « given for the OPPENHEIM.CLLINS & C Mth Street— New York Friday---A Closing Out Sale of MIssEs’ EVENING AND DANCE FROCKS Sires 14 to 18. Also Suitable for Women to 36 Bust MODELS OF CHOICE FASH- IONING AT REDUCTIONS WHIQH COMPEL ATTENTION Values to 69.50 28.00 Of brilliant Metallic Cloth, Radium Taffeta, Chiffon and Chiffon Brocade. Widely va- ried styles, shaded in shim- mering jewel and flower-tints , Also a Sale of Misses’ Tailored Cloth Dresses Greatly Below Regular Value * Models of Poiret Twill and Tricotine in many choice styles. Varied trimmings 13 75 of beads, embroidery, ribbon and braid. i Misses’ Dep't—3rd Floor [ OPPENHEIM.CLLINS &C | 4th Street— New York Exceptional Underwear Values Friday Crepe de Chine NicHt Gowns Specially Priced 3.95 Many dainty models, both tailored and lace-trimmed, in Flesh, Blue, Orchid and Peach. Seco Silk Nightgowns In delicate pastel shades 2.00 '2.95 2.95 Special | Crepe & Radium Chemises | A wide choice of styles Radium Silk Bloomers = | Flesh, White, Orchid Wash Silk Petticoats It ks de Chine and Radium Silk Special Special | Special 3.95 ds Superb highest class garments taken from regular stock, richly lined. Eh eae asthe 1 1992. j u No connection with any other edtablistiment in the world THIRTY-FOURTH ST REET Filth Avenue and Broadway MARMOT TN COAT g08e aa ¥ “FRENGH SEAL COAT 1522 Annual Clearance Coats rm Fur Coats — Frocks — Suits At Extraordinary Reductions Beaver and Squirrel Collar Cloth Coats also coats with raccoon or caracul collars 3 5,00 Fur Trimmed Cloth Coats with large collars of beaver or wolf, or with collars and cuffs of squirrel or fox. .- 5 5:00 French Seal Coats (seo! pyed con 7 5:00 Raccoon Coats Taken from regular stock, made of dark full furred skins. Millinery Clearance! at Astounding Reductions Hats of Faille Silk Canton Crepe, Saun, Velvet or Felt, embroidered or trimmed with flowers or ribbons, taken from our regular stock of recent models. 5.00