The Baltimore & Ohio plan for pension payments, in vogue for the past twenty-three years, is in conjunction with the Relief Department, but is not, as that is, maintained by the contributions of employees. The pension system is maintained entirely by the company, which contributes for the purpose about $90,000 annually. During the year 1906-1907 the fund paid in pensions was over $95,000, to about 400 pensioners. Since its inauguration in 1884, there has been paid out in pensions, $1,008,000. Again, the foundation of two other features--Savings and Loan--in the Baltimore & Ohio dates back a full quarter of a century. The Savings is strictly a trust fund, around it being thrown the unequivocal protection of the United States government in the decision handed down by its courts. Of course this is understood by employee-depositors; consequently there is absolute confidence. There are no runs, no anxiety as to savings, and no fear that what has been laid aside for a rainy day will be risked. Meantime, upon it the company is guaranteeing four per cent and earnings; the interest and dividend returns thus amount to never less than five and sometimes five and a half per cent. The total of the savings deposits to June 30, 1907, reached eight and a half million dollars, and interest and dividends paid to employee-depositors to that time came to a million and a half dollars. The Baltimore & Ohio loan feature is still more remarkable. The object is to enable the employees to own their own homes. All are real-estate transactions, and it is a remarkable fact that the administration of this feature, throughout twenty-five years, has been entirely without appreciable loss on any single investment. Employee-borrowers have entered into personal obligations representing the building of two thousand houses and the purchase of three thousand homesteads. The transactions of the loan section to June 30 represented six and three-quarter millions of dollars, when there was also a million and a quarter in the treasury, upon which the company’s guarantee of four per cent held good.