> And in many cases in 1900, $7 was a weekly salary -- not daily . . . > Cheers, > Jim Guthrie > ELHS #1296 List, This thread gives me the opportunity to mention a news clipping I ran across last week in the Buffalo Courier Express, published on Feb 22, 1902, entitled: "Lackawanna Will Introduce Pension System". Effective March 1st a formal pension system was introduced by the DL&W. In the article they give an example of a typical employee. To qualify you basically had to be 65 years old and have a minimum of 25 years continuous service (there are exceptions). They base the pension on your average monthly salary of the past ten years and give you 1% for each year of service. Their typical employee in the example averaged $60 per month in salary and had 30 years service. This equalled $18 per month for his pension. The article goes on to mention that the DL&W set aside $50,000 for the first year to cover all their pensioners, "an amount as large in proportion to the number of employees as has been set aside by any large corporation." Today, this amount wouldn't even cover my annual pension. Ron Dukarm The Erie Lackawanna Mailing List http://EL-List.railfan.net/ To Unsubscribe: http://Lists.Railfan.net/erielackunsub.html ------------------------------
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