ANALYSIS OF SCHEMES NOW IN FORCE. DETAILED 27 
ACCOUNT OF VARIOUS SCHEMES. 
without the consent of the company will lose their right to share 
in profits( a ); in some cases( b ) it is expressly provided that such 
loss of right is only incurred by employees who sell shares to 
persons outside the company’s employment. Under scheme 
No. 125 half of the bonus is paid in the form of bonus certificates, 
which benefit as ordinary shares, and are not transferable in 
ordinary circumstances, but may be transferred on the death of an 
employee to his representative, or will be redeemed by the com 
pany. No restriction is generally placed on the devolution of 
shares on the death of the holder, and in the case of many gas 
companies special facilities are offered for the transfer of shares 
to the holder’s nominated representative. 
Share in Control of Business. 
As a rule—though there are some important exceptions, as 
noted above—the shares owned by the employees give them the 
' ordinary voting powers; and as time goes on and their holdings 
increase, their voting strength should in due course be augmented. 
At present, the proportion of the total number of votes which 
belongs to the employees reaches or exceeds 5 per cent, in 
only a few cases(°) and is in nearly all cases a quite insignificant 
percentage. The employees are represented on the Board of 
Directors in 9 cases.( a ) There exist, however, under a very large 
number of profit-sharing schemes,( e ) joint committees composed of 
employers and employed whose functions, although of a consulta 
tive nature only, cannot be considered unimportant.( f ) 
0.—DETAILED ACCOUNT OF SCHEMES OF VARIOUS 
TYPES. 
xllthough it is not practicable to describe in detail all the profit- 
sharing schemes which have been adopted in the United Kingdom, 
the different kinds of Profit-sharing will be illustrated by a short 
account of certain schemes of various types. 
Cash Bonus.* 
Taking first the form of Profit-sharing in which the whole of 
the bonus is paid in cash, and in which, neither by the invest 
ment of their bonuses nor of their other savings, have the em 
ployees acquired an interest in the capital of the undertaking by 
( a ) The principal exceptions are Nos. 38 and 86, which make no provision 
against selling Stock. 
( b ) Nos. 55, 82, 83, 89, 94, 95, 96, 100, 107, 119, 121, 128. 
(°) The principal cases are No. 7, 53 per cent, (including the wives and children 
of employees) ; No. 49, 25 per cent. ; No. 61, 20’6 per cent. ; No. 81, 19*5 per 
cent. ; No. 69, 12'5 per cent. ; No. 77, 10'6 per cent. ; No. 56, 8’5 per cent. ; 
No. 74, 6'6 per cent. ; No. 6, 6 per cent. ; No. 68, 5'7 per cent. ; and No. 101, 5 
per cent. 
(D Nos. 7, 24, 38, 48, 49, 61, 72, 76. 133. 
( n ) All gas companies and Nos. 5, 20, 23, 29, 39, 41, 78, 103, 106, 124. 
( f ) Some description of the functions of a joint committee will be found on 
pp. 59 and 60. 
* A general form for a simple profit-sharing scheme with cash bonus will be 
found in Appendix F., pp. 128-130.