The Forest Republican. [volume] (Tionesta, Pa.) 1869-1952, 1891-02-11
SOME ENOR i0USSALARtES
BIG WAGES THAT SEEM TO BE
PAID FOR VERY LITTLE EFFORT.
Why It is That Corporations Pay
Large Sums TO Those who Man.
age Ihem-The Presidentis Salary.

age eIhem-1he Presidents Salary.
Chauncey Depew has always been very
reticent as to his salary as President of
the New York Central, but others who
appear to be familiar with his income say
that he certainly receives from tho New
York Central SIS, 900 year and that
he makes from his outside legal practice
an additional $25, 900, making his total
income 800, 900 year. This may seem
an exorbitant sum to pay to a man whose
career by most folks is thought to be one
of unalloyed pleasure. But Mr.. Depew
does not receive the SIS, 200 from the
New York Central in remuneration for
any severe manual strain on his part, but
for his comphensive knowledge of the
affairs of that company and his ability
to direct them with the least possible
friction. Mr.. Depew's office from early
morning to late at night is filed with all
sorts of people with all sorts of questions,
and the man who receives the big salary
he does must be able to answer them
most satisfactorily, and always in the in
terests of the New York Central.
Then take some of the salaries of other
New Workers: II. B. Hyde, President of
the Equitable Life Assurance Society, re-
ceives $50, 600; James w. Alexander,
the President, $40, 200, and John
A. Mccall, the Comptroller, $25, 600.
r. A. McCurdy, President of the Mutual
Insurance Company, receives $50, 900,
and r. A. Grannis, the Vice. President,
receives $50, 900. w. II. Beers, Presi-
dent of the New York Life Insurance
Company, receives $50, 900, and DR..
Henry Tuck, the Vice-President, $780,
600. John r. Hegemau, the Vice Presi-
dent of the Metropolitan Insurance Com-
pany, receives S35, 900. d. o. Heald,
President of the Home Fire Insurance
Company, gets $35, 900, and John w.
Murray, the Vice President of the Ger
man-American Company, S35, 900.
Then look at some of the salaries paid
to the chief officers of banks and trust
companies. Frederic P. Olcott, Presi-
dent of the Central Trust Company, re-
ceives $50, 900; Richard King, President
of the Union Trust, receives $50, 900 /;
General Louis Fitzg gerald, President of
the Mercantile Trust Company, receives
$50, 600; John A. Stewart, President of
the United States Trust Company, toddles
along with $50, 900, and Colonel w. l..
Trenholm, President of the American
Surety Company, receives $50, 900.
President Williams of the Chemical Bank,
and President Perkins of the Importers
and Traders, each receive $50, 900, and
the average salary of other bank Presi-
dents in New York is from 500 to
S15, 900. There is long string of such
salaries, and the general opinion is that
the men earn their money.
The interests of these vast company are
all under the minute observation of the
commanding officer. These interests ex,
tend over all the globe and require the
greatest judgment and the most skilful
knowledge of affairs. Many of these
officers, by their keen knowledge of af-
fairs Of state and nations, save their com
panies annually ten times the salary they
receive. They are provided against al.
most every system of the blackmail by
reason of their vast experience in the
conduct of their companies and earn their
salaries many times over.
Up in the dry goods district the big
men of the Clahin Company, Telft, We'll
Ter & Company, and other firms of that
calibre, receive on an average $4,000 to
$40, 600 year. There are several exceD-
tions where buyers and others run their
incomes up from $40, 900 to $40, 900 a
year. This is in the dry goods jobbng
branch, because in the dry goods COM
mission branch the average salary of an
employe is from $2500 to $4,000 year.
There are exceptional people who receive
$500. All of these people earn their
money, too. The vast experience neces-
sary to buy goods successfully and to keep
in touch with the vast competition of the
present day is certainly worth a liberal
income. Then the selling of goods re-
quires an extended acquaintance, much
personal outlay and the temperament of a
diplomat.
Looking over these few facts aud fig
ures the salary of the President of the
United States comes in for consideration.
The President receives $50, 600 a year,
and from the day he enters the White
llphaC hlllll AlAt muir llt itdNt5 IL very
few men can tell how hard he earns his
money. There can be no adequate rule
of compensation applied to his case.
The vast army Of Office holders and office
seekers who besiege him ought to make
the place worth $500, 900 year at the
least. But possibly the compensation
for the place is eked out by its great
honor and the hurrahs and cheers which
greet the President, no matter how un-
popular he may be, wherever he goes.
The salutes of the great cruisers, the
ban1s playing "Hail to the Chief" the
great personal honOrs shown the holder
of the office, no doubt are intended to
make up the compensation, which can
not be represented by his salary OF $780,
600 a year. The Cabinet officers re-
ceive $4,000 year. Senators and Con-
gressmen receive each $4,000 year.
Governor Hill receives $40, 900 year,
and the Senators and Assemblymen re-
ceiye $500 year. One has only to
look at the difference in the figures re-
.ceiyed by men IN pulTHU ftTtu those
paid 70 men who reach the pinnacle in
business life in New York TO observe the
great difference and to wonder at it, The
wonder Is that men Of the personal abil-
tiles at the head of the National and
State Governments should consent to ac-
cept the salaries paid to them. But then
comes the universal statement that the
hsnors of the places held by them, in a
measurei must make up for this vast