Show Jil J. I. I C O. O Penney Company Authorizes Special Payment for or Christmas The board of or directors of the J. J C C. Penney Company have authorized ed a 1 special payment of an amount equal to two weeks' weeks pay for all full- full time lime associates who have been em cm- employed for the full year of 1949 and on a proportionate basis for extra and time part-time association and for those employed less than a year All Penney associates through through- throughout out the company share in this pay pay- payment payment payment ment except those who are arc mem memo members members bers of the management staff still and whose earnings are arc determined large largely by the company's long long- longstanding stand standing ng sharing profit profit profit- haring plan Mr R. R V. V Ord manager nager of or the J. J C. C Penney company store said that more than an Penney as as- associates assocIates sedates all over the a United States will ill participate in this payment inducing including ng 11 of 01 the Bountiful store He further emphasized that this was not a Christmas bonus in the usual sense and was nonrecurring recurring The company some years cars ago ao a o substituted a thrift and profit profit- sharing plan for the more usua usual Christmas bonus and Into this plan Is annually paid a proportionate share of or company earnings The current extra payment just an Is additional ad adr to these thrift and profit sharing benefits |