﻿ANALYSIS OP SCHEMES NOW IN FORCE.

21

of their employers in the first place a fixed rate of interest,
generally varying between 3 and 5 per cent.,(a) and then a further
return on these deposits varying with the rate of profits of the
business. The rate of this extra return is in a few cases(b)
to be such as, together with the fixed interest, will bring the
total rate of return up to the rate of dividend paid by the
company, with a maximum limit of 10 per cent, in one case
(No. 22); in two cases (Nos. 8 and 51) the rate of the extra return
is to be one-half of the difference between the fixed minimum
rate of interest and the rate of dividend paid by the com-
pany, with a maximum limit of 7 per cent, for No. 51 and of
10 per cent for No. 8; in another case (No. 102) it is to be half
the rate of profits in excess of 8 per cent., the interest in this
case being paid half-yearly. Under scheme No. 79 deposits are
received by a private employer who, in addition to a fixed mini-
mum rate of interest, gives “ a bonus which is fixed by the
Auditor in proportion to the profits.” Where a limit is fixed
to the amount of money which may be invested, this varies from
.£15 to £400.(°) Notice is generally required before any sums
may be withdrawn by investors, varying from two days to two
months.(d) In addition to the foregoing instances, there should
be mentioned under this heading the special cases of two gas
companies (Nos. 84 and 109) who receive fixed weekly contribu-
tions from employees and who, in addition to a fixed rate of
interest (4 and 5 per cent, respectively), give a bonus on the
contributions. varying with the price of gas, the whole of the
amount credited to employees being invested in shares in the
undertaking.

Proportion op Bonus reserved as Provident Fund.

In three cases(e) the whole of the bonus due to the employees is
credited to a provident fund. Where such a fund exists it is
more usual, however, for only part of the bonus to be devoted
to this purpose, the other part being either paid to employees
m cash or credited to their account for the purchase of shares in
the undertaking by which they are employed. The proportion

(“) The rate is 3 per cent, for No. 22, 4 per cent, for Nos. 8, 51, 85, 102,
U Per cent, for No. 2 and 5 per cent, for No. 97 ; in the case of No. 10 there
is no guaranteed minimum rate of interest.

C) to (no fixed interest, return on investments being the same as rate of
dividend, if any, upon capital), 22, 85, 97. In the case of No. 2 the
return varies with the profits between certain limits according to a fixed scale
(see pp. 39 and 40).

0) The limit is £15 for No. 10, £50 (£100 for bailiff) for No. 97, £100 for
No. 51, £400 for employees paid quarterly and £200 for other employees in the
case of No. 8. No limit is fixed by Nos. 2, 22, 85.

(’() In the case of No. 51 any sum up to £2 may be withdrawn in one week on
notice of two days being given ; otherwise one month’s notice is required.
With No. 102 amounts up to £1 may be withdrawn on seven days’ notice
fourteen days’ notice being required for higher amounts. Seven to fourteen
days’ notice is required by No. 8 (see pp. 41 and 42), and seven days to two
months by No. 2 (see pp. 39 and 40). One week’s notice is required by Nos
85, 97 and one month’s notice by No. 22. In the case of No. 10 no notice is
required for the withdrawal of small sums, while otherwise a week’s notice is
required.

(') Nos. 9, 27, 37.