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! Arithmetic sometimes makes more sense than headlines. The fol
lowing figures are a matter of public record - checked and verified by
Uncle Sam's tax men. If you have two minutes to spare we think you'll
find them rather interesting.
A Last yea Union Oil Company took In 127 million dollars in
round figures. This was from all sales of its products and services.
91 million dollars of this was promptly paid out for things - rent, mate
rials, transportation, equipment, depreciation, interest, and taxes.
O This left 36 million dollars to be divided among people-the em
ployees and the owners. Of this sum 27 million dollars went to th
employees in wages, salaries and employee benefits. 4 million went
to the owners in dividends. 4'4 million was left in the business.
In other words the employees got 75 of what money there was
to distribute, the owners 13 and the business 12. This doesn't mean
that the owners got 13 on their investment. They got 13 of the dollars
left over after the company's expenses were met.
3 On the capital invested In the company the owners received Just
3.2 in dividends. For that 3.2 they have financed all the oil wells,
service stations, equipment, etc., with which the employees work
$13,525 worth of "tools" for each tmbloye.
It also happens that the 4M million was divided among 32,000
Union Oil stockholders, whereas the 27 million was divided among
less than 9,000 employees. Consequently, the employees got an average
of $3,108 apiece -$259 per month.
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