For the purpose of better promoting the harmonious workings of capital and labor, The Harris-Ingram Steel Co., Limited, has been organized, and its scope of co-operation has been planned on the following basis. Capital Stock of the Harris-Ingram Steel Company $5,000,000 Total number of shares 500,000 Par value each share $10 The liability of each stockholder is limited to the amount of stock held. Half of the entire stock of the corporation shall be owned by so-called "capital," and half by the employees of the company, or so-called "labor." The stock issued shall represent the actual cash expended upon the plant, and employed as a working capital. It is the wish of the management that each employee in the steel company shall own at least ten shares of the stock, and more, if he so desires. All the stock bought is to be paid for in cash. A loan at 4% interest, equal to the par value of the stock, can be made by employees, when necessary, to purchase a limited amount of the stock. 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_.