benefits, the entire administration of this Accident Fund being 
left in its bands.* 
On August 27, 1898, a scheme for the election by the officers 
and workmen of the company of employee-directors, made under 
the provisions of the Company’s Acts of 1896 and 1897, came into 
operation. This scheme was to continue in force for three years 
(subject to cesser, if the amount of the investment of the 
employees in the stock of the Company should fall below the 
nominal amount of £40,000), and was renewed in 1901. In 1907 
the scheme was again renewed for a further period of 43 years. 
It is, however, subject to prior determination should the employee- 
shareholders reduce their holding' of stock below certain specified 
limits, or should the shareholders resolve that the Co-partnership 
Scheme no longer answers its purpose of promoting a true union of 
employers and employed. Such resolution is to be subject to the 
approval of the Board of Trade. 
The number of employee directors is not to exceed three, of 
whom one shall be a salaried officer, and the other two employees 
in receipt of weekly wages; and it may be reduced below that 
number if the amount of stock held by the employees should 
decrease. At the date of the adoption of the 1907 scheme the 
employees held stock of the Company to the aggregate amount of 
approximately £200,000, or one-thirty-second of the total capital 
of the Company; and the scheme provides that: — 
“If at any time the aggregate investment of the employees should fall 
back by 10 per cent, of its amount below any figure it may have attained 
less than one-tenth part of the paid-up capital, the number of employee- 
directors shall be reduced to two by lot, provided the reduction of the 
aggregate holding of stock is general with the salaried staff and the weekly 
wage-earners. If it is entirely or mainly in either section, justice requires 
that section to lose a director. If the reduction should amount to 20 per 
cent, the number of employee-directors shall be reduced to one by lot. 
Provided that if the aggregate investment should be restored to the 
original maximum the directors lost by the first and second reductions 
shall be restored. A reduction of 30 per cent, shall disqualify the remain 
ing employee-director.f So long as the aggregate holding exceeds one- 
tenth part of the ordinary nominal capital, the above provisions as to 
reductions shall not apply.” 
With respect to the qualification of an employees’ director it 
is provided that: — 
“ The qualification of an employees’ director shall be two-fold, the having 
been continuously not less than 14 years in, and continuing in, the employ 
* In connection with this Accident Fund a system of “ Juries of Workmen” 
is in force. The rules of the Fund provide that an inquiry shall be made into 
every accident that is a charge on the Fund, and may, at the discretion of the 
Company’s engineer, be made into any other accident. “ Every jury shall 
consist of not more than two members of the Co-partnership Committee of the 
Station, not more than four from the Department in which the accident happened, 
and the remainder [making the number up to 12] in order from the Jury List.” 
The duties of a jury include that of investigating the circumstances causing the 
accident, and stating “ whether any blame attaches to any official or workman, 
or whether the plant, machinery, or means of protection were defective, if 
they are satisfied there has been any neglect or carelessness or defect,” and “ if, 
in the opinion of the jury, anything can be done to prevent a similar accident 
in future, they shall make such recommendation as they may consider necessary.” 
f If the conditions laid down as to the aggregate holding of stock by 
employees are at any time restored, then the Directors, with the Shareholders’ 
consent, may revive the scheme.