. Ten per cent of
the wages of all such employees will be retained as needed, which, with
dividends actually earned by the stock, will be applied on the amounts
due for the purchase of stock and real estate for a home. The new model
town will be known as Harris-Ingram.

Two thousand acres of land near the mills will be properly allotted and
improved by the company for homes for the employees, and practical
architects have been secured. It is further the wish of the steel
company that each employee shall own a good home. The size of each lot
is 50 ft. x 200 ft. and the price per lot is $50 which is in proportion
to the original cost and improvement of the allotment, so that the
employees in advance will thus secure all the profits that result from
any increased value of the lots. This is only just.

A Stock and Building Bureau will be established, and money, at 4%, will
be furnished the employees to build comfortable homes. This bureau
created and officered by the employees will attend to the purchase and
sale of stock, lots, the construction of homes, and the payment for the
same. When for any reason, an employee desires to sever his connection
with the steel company, his stock in the company and his home, if sold,
must first be offered at a fair price to the Stock and Building Bureau.

By this scheme capital and labor will have equal interests in the
Harris-Ingram Steel Co., also an equal voice in the management of the
steel company's welfare. Should capital and labor disagree, then the
matter in dispute, with all the facts, and before any strike on the
part of labor shall occur, shall at once be submitted to arbitration,
and the decision of the arbitrators shall be final.

Signed by
George Ingram,
_President of The Harris-Ingram Steel Co_.

In eight months George Ingram had spent of the five millions at his
disposal three million dollars on the steel plant. A working capital of
$500,000 was deposited in four banks, and the balance of one and a half
millions was invested in call loans, and so held ready to loan in small
amounts at 4%, to aid employees in securing their quota of stock, a lot
and house.

In twelve months, the $2,500,000 stock of the company, allotted to
labor, had been subscribed for by the employees, over a thousand pretty
cottages, costing from $1,000 to $2,500 each, were built or in process of
construction, and nearly three thousand lots h