1940: Firm Reports on Survey on How Employes Spend

Pay in Silver Dollars to Trace Travels of Money in Weekly Payrolls

Middletown, Conn., Sept. 2.–(AP)–The Russell Manufacturing Company, which recently paid off in silver dollars to learn more about its employes’ spending habits, reported that merchandise took 69.8 per cent of the $35,000 weekly payroll.

Insofar as the company was able to learn from figures checked in the Middletown area, 14.2 per cent of the weekly payroll went into savings accounts, 4.6 per cent was used to pay utility companies for their respective services and .014 per cent was devoted to amusements.

This totaled 88.614 per cent leaving 11.386 per cent unaccounted for, the company officials said, but they believe this was spent in other communities, perhaps in summer theaters and in stores.

George M. Williams, president of the company, which makes automotive equipment and has been filling Government orders, said the survey “went beyond expectations.”

From the Pittsburgh Post-Gazette (Pittsburgh, Pennsylvania), Tuesday, September 3, 1940.

 

 

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