Jasper County Democrat, Volume 23, Number 70, Rensselaer, Jasper County, 27 November 1920 — BONUSES WILL EXCEED $7,000,000 [ARTICLE]

BONUSES WILL EXCEED $7,000,000

Fed Motor Comoany Will Start Distribution January 1. Detroit, Nov. 24. —Bonus checks aggregating more than $7,000,000 for employes of the Ford Motor company are now being written and their distribution will start January 1 next, according to announcements today by Edsel B. Ford, president of the Ford Motor company. Mr. Ford also announced a forthcoming extra 3 per cent for the six months ending December 31 on Ford investment securities held by employes of the company. This, Mr. Ford said, is in addition to the guaranteed 6 per cent. He added that 8 per cent had been paid July 31 last, making a total of 14 per cent on the certificates for 1920. Mr. Ford’s statement was made, it was announced, to correct what he said was an erroneous report of testimony by S. S. Marquis, director of the Ford educational department, before Judge Alschuler in Chicago yesterday to the effect that the recent reductions in the price of Ford cars had resulted in the bonus to employes being practically cut off. The statement that 6,000 men of the Detroit force had quit work within the last ninety days was correct, it was said at the executive offices of the company here; but the men had left voluntarily, and increased production of the remaining employes had made it unnecesasry to replace them.