151 



QiXht I see* Well ncyw^ what provision did you make for 



dividend s to th0 etoekholderst 

 CogglnsJ Well, that didn*t come for a long time afterwards. 

 Gilbt Tou didn't assume that there would be dlYldends 



Coggins: No, We didn't aspire to dividends for soiae time. 

 Our first Job was to continue in business, 



Oilbt So that at least their stook would be worth son^thing, 



Coggins: Some people were so anxious to get out that #100 

 fliartll went for #20. Some of them as low as ^10* 

 People were ready to get out, 



Gilb: Was this a rather unique arrangement, this profit* 

 sharing? 



Coggins: I don't recall any set-up Just likis it. But profit- 

 sharing is not uncommon. Come to think of it, a 

 very natural thing. It's a aort of partnership, 



Oilb: What was your motivation in doing this? To keep 

 the employees there? 



Coggins: I knew nothing about the business, I thou^t they 

 were the only people who could run it, 



Gilb: This would give them incentive, is that it? 



Coggins: Yes, In other words, I wanted to put them in as 



nearly as possible the position of owners. So that 

 they would have all of the hopes and responsibilities 

 of owners. 



