The morning news. [volume] (Savannah, Ga.) 1887-1900, 1891-01-05
WAGES BIG MEN EARN.
ENORMOUS SALARIES PAID FOR
VERY LITTLE EFFORT.

Why it is That Corporations Pay
Large Sums to Those Who Manage
Them 1t Looks as Easy to Run
These Business Interests as holling
OF Log, but it sn't.
rom the Nelo 70 sun.
Some OF the go de in the financial and
commercial circles are telling of move
ment among certain employers and heads OF
| great b, uses to cut down salaries for the
ensuing year. This line Of policy has been
dictated, it is said, by the events of tie last
few months. and it has opened up a most
int estIng discussion about the big salaries
paid here.
Chauncey Depew has always teen very
reticent as 10 his SALARY as president of the
| New York Central, but others VINO appear
to be familiar with his income say that be
cerlai ly receives from the New York
/ Central $75, 900 year, and that he makes
from his outside legal practice an additional
$4,000. making his total income $lO0, 600 a
year. This may seem an exorbitanJ sum
to pay to a man whose career by most
| ks is thought to be one of
unalloyed pleasure. But Mr.. Depew
does not receive the $75.0U0 from the New
| Y, rk Central in remuneration for any
| severe manual strain IN his part, but for
his comprehensive 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 flied with all sorts of people,
with all sorts of ques lions, and the man
who receives the Oig salary he does must be
| t.hle to answer them most satE factorilY,
and always In the interests OF the New York
| Central.
Then take some of the salaries of other
| NJ, II IJrvI1 N.zft ha
Equitable Life Assurance Society, receives
$4,000; James w. Alexander. the vice
presiden,, $4,000, and John A Mccall, the
comptroller. $4,000. r. A. McCurdy,
president of the Mutual Insurance Company,
receives $4,000, and r. A. Grannis, tie
vice preside t, receives $4,000. w. Il.
Beers president Of the New York Life In-
surance Company, receives $50. 900, and DIR.
Henry Tuck, the vice president, $50 QUO.
John r. Hegeman, the vice president of the
Metropolitan Insurance Company, receives
S35, 900 D. o. Heald, president of the
Home Fire Insurance Company, gets So, 900,
and John w. Murray, the vice president of
the German-Amer can Company, S35, 900.
Then look It some of the sala les paid to
t chief officers of banks and trust COM
panies. Frederic P. Oicott, president of
the Central Trust Company, receiv es $780,
600; Richard King, president of the Union
Trust, receives $50, 900; Gen. Louis Fitzger-
aid, president of the Mercantile Trust Com
plnV, receives $4,000; John A Stewart,
PRESIDENT of the United states Trust Com
pany, toddles along lth $50,000, and Col.
W. l.. Trenholm, president of the Amer
lean Surety Conn., any, receives $40, 900.
President Williams Of the Chemical Bank
and President Perkins of the Importers and
Traders, each receive $4,000, and the
average salary of other bank presidents
in New York is from $4,000 to SIS. 000
There IS a long string of such salaries, and
the general opinion is that the men earn
| & eir money.
Tue interests of these vast companies are
all under the minute observation of the
commanding officer. These interests ex'
te I'd over all the globe, and require the
knowledge of affairs. Many of these officers
. by their know edge of affairs Of state anC
nations save their companies annually ter
, times the salary they receive. They arr
provided against almost every system o.
/, blackmail by reason of Their vast experience
in he conduct of their companies, and carr
thei salaries many times over.
Up in the dry goods district the big mer
of the Ciaflin Company, Teft, Weller
s Co., aud other firms of that csliUar, receiv,
q on an average 5000 to $4,000 a year
There are several exceptions where yer
: and others run their income up from $40, ON
U to $50, 900 year. This is in the dry good
9 jobping branch, because in the dry good
q lmmission branch the average salary o
an employe is from 81, 500 to 5,001 year
g There are exceptional people who receiv,
r 1900. All of these people earn their money
too. The vast experience neccs,a to buy
q goods successfully aud to keep in touch with
e the vast competition the present day i
4 certainly worth liberal income. Then tn
J. selling of goods requires an extended &C
!, | Quaintauce, much personal outlay and tn
s temperament of diplomat.
= Loo inS over these few facts and figure
: the salary OF tue President of the United
States comes in for consideration. Tb
President receives $50, 900 year, and from
v the day he enters the white house until tn
a hour he leaves it very few ssmen can tel
. how hard he earns his money. There cal
be no adequate rule OF compensation applies
l. 10 his case. The vast army of office-hold
It ers and offlce-seeke who besiexe bin
3 ought to make the place worth $500, 0O0
:. pensation for the place is eked out by ii
n great no or and the hurrahs aud cheer
It whic greet the President, no matter hoy
n popular he may be, wherever he goes
d The salute # the great cruisers, th
y bands playing Hail to the Chief,
n the q eat personal honors show
s. the holder of the Office, no doub
IS are intended to make up the compensation
e which ca mot be represented by his salar.
le of $50. 900 year. The cabinet officers re
h ceive s.. 900 year. Senators and congress
men receive each S. 900 year. Gov. Hi
receives $4,000 year, and the senator
|, aud assemblymen receive $3.50 a wear
One has only to look at the difference in tn
figures received by men in public life an
those paid to men who reach the pinnacle il
business life in New York TO observe tn
great difference and to wonder at 1t. TIL
wonder is that men Of the personal abilitle
at the head of the national and stale gov
ernments should consent to accept the sal
aries paid to them. But then comes tn
universal statement that the honors Of tn
places held by them. in measure, mus
make up for this vast difference in the pc
cuniary compensation.
- Live Man With Monum snt.
IT, tho met @a, davs savS tba Naw vorl