Salt Lake Telegram | 1946-12-31 | Page 2 | Ford Company to Discontinue Employe Investment Plan

Ford Company to Discontinue Employe Investment Plan DETROIT. Dec. 81 W The Ford Motor Co. Tuesday announced an-nounced termination as of Jan. 31, 1941, of its employe investment plan, initiated more than 25 years sfo by the elder Henry Ford. Participants In ths plan were asksd to present their Investment certificate books for payment in full after Jan. 1. Under the plan employes were permitted to Invest not to exceed one-fourth of the amount they received re-ceived In wares and aalariss each pay day. On each 330 or more invested in-vested they received 4, a year plua additional special returns. Durinf ths laat 20 years ths compsny paid more than 120.000,-000 120.000,-000 to partlclpatinf employes. Ths total amount of employs In-vestment In-vestment was not disclosed, but APVCTTUEMKIfT ths company said that at ths end of 1941 mors than 16.000 employes were partlclpatinf to the extent of $18,142,861. Acceptance of additional deposits de-posits wss discontinued In September, Sep-tember, 1941, and at ths end of August this year ths amount of principal duo participants wss $11,252,823. Ths number of depositors depos-itors In ths plan than had bssn reduced to 8667. ' A letter to Investment plan participants par-ticipants explained that "leral trends" haA mads it necessary for ths company to close ths plan to new Investors five years ago, and added: "With additional deposits impossible, im-possible, the -company has decided it la not right for some employes to receive investment benefits when others are not able to par-tlclpate."