LABOR: First Dividends

Labor banks—one of the few labor experiments of which Capitalism has approved—seem in a fair way to become established in the industrial and commercial system of the country. Recently, the Federation Bank of New York began the payment of dividends to stockholders. Still more recently, it celebrated its second anniversary (TIME, June 1, THE PRESIDENCY).

Last week, the Amalgamated Bank, launched by the Amalgamated Clothing Workers of America two years ago last April, put itself on a dividend basis. It announced an 8% dividend basis and declared $2 a share, payable in June.


Want the full story?

Subscribe Now


Get TIME the way you want it

  • One Week Digital Pass — $4.99
  • Monthly Pay-As-You-Go DIGITAL ACCESS$2.99
  • One Year ALL ACCESSJust $30!   Best Deal!
    Print Magazine + Digital Edition + Subscriber-only Content on

Learn more about the benefits of being a TIME subscriber

If you are already a subscriber sign up — registration is free!