Employees Share Ownership of Pipe Foundry
In a paper presented before the annual convention of the Southeastern Water and Light Association at Chattanooga, Tenn., on May 19 to 21, by Paul A. Ivy, vice-president of the American Cast Iron Pipe Company, Birmingham, Ala., on the subject of “Industrial Democracy in a Pipe Foundry," the interesting fact is brought out that the plant and business of the company is practically owned by the employees.
This plan was conceived by the late John J. Eagan, since the company’s organization until his death a year ago, its largest stockholder. While death overtook Mr. Eagan before he had perfected his plans toward employee ownership, during his last illness he inserted a codicil in his will bequeathing the plant and business of the company to his employees.
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