In 1902, “its capital stock was valued at $49,501,000” and “paid out $1,400,000 in dividends, while in 1911, when the capital stock was valued at $60,000,000, it paid dividends of $2,800,000” (Foner 307-308). The American Woolen Company continued to reel in substantial revenue numbers while the average wage of workers in the mills of Lawrence was $0.16 per hour (Neill 94). Clearly more interested in distributing their income to their shareholders rather than provide their workers with a raise that could slightly improve their living conditions, the American Woolen Company doubled what they pay as a dividend while the employees could barely afford to pay
In 1902, “its capital stock was valued at $49,501,000” and “paid out $1,400,000 in dividends, while in 1911, when the capital stock was valued at $60,000,000, it paid dividends of $2,800,000” (Foner 307-308). The American Woolen Company continued to reel in substantial revenue numbers while the average wage of workers in the mills of Lawrence was $0.16 per hour (Neill 94). Clearly more interested in distributing their income to their shareholders rather than provide their workers with a raise that could slightly improve their living conditions, the American Woolen Company doubled what they pay as a dividend while the employees could barely afford to pay