Sullivan republican. [volume] (Laporte, Pa.) 1883-1896, 1891-02-13
SOME ENOR MOUSSALARIES
BIG WAGES THAT SEEM TO BE
PAID TOR VERY LITTLE EFFORT.
Why 1t Is That Corporations Pay
Large Sums to Those Who Man
age Them-The Presidents Salary


reticent as to his salary as President of
appear to be familiar with his income say
that he certainly receives from the New
York Central SIS, 900 year and that
he makes from his outside legal practice
an additional $25, 200, making his total
income 500, 900 year. This may seem
an exorbitant sum to pay to man whose
career by most folks is thought to be one
of unalloyed pleasure. But Mr.. Depew
does not receive the $75, 900 from the
New York Central in remuneration for
any severe manual strain on 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 filled with all
SITS 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 $4,000; James w. Alexander,
the Vice President, $40, 900, and John
A. Mccall, the Comptroller, $25, 900.
r. A. McCurdy, President of the Mutual
Insurance Company, receives $50, 900,
and R. A. Grannis, the Vice President,
receives 100000. w. III. Beers, Presi-
dent of the New York Life Insurance
Company, receives $50, 900, and DR..
Henry Tuck, the ce-President, $780,
900. John r. Hegeman, the Vice -Presi.
dent of the Metropolitan Insurance Com.
pany, receives $35, 900. d. o. Hcald,
President of the Home Fire Insurance
Company, gets S35, 900, and John w.
Murray, the Vice President of the Ger
man-American Company, $35, 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-
cci''es $50, 600; Richard King, President
of the Union Trust, receives $50, ,000;
General Louis Fitzg gerald, President of
the Mercantile Trust Company, receives
$50, 900; 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 S20,000.
President Williams of the Chemical Bank,
and President Perkins of the Importers
and Traders, each receive $40, 900, and
the average salary of other bank Presi-
dents in New York is from $4,000 to
SIS, 900. There is long string of such
salaries, ii 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 Claflin Company, Tefft, We'll
Ter s. Company, and other firms of that
calibre, receive on an average $4,000 to
$40, 900 year. There are several excep-
tions where buyers and others run their
incomes up from $40, 200 to $50, 900 a
year. This is in the dry goods jobbing
branch, because in the dry goods COM
mission branch the average salary of an
cEploye is from $2500 to $4,000 year.
There are exceptional people who receive
$500. All of these people earn their
morey, 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 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 and fig
urcs the salary of the President of the
United States comes in for consideration.
The President receives $50, 900 year,
and from the day he enters the White
House until the hour he leaves it 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 year. The Cabinet officers re-
ceive $4,000 year. Senators and Con-
gressmen receive each $4,000 a year.
Governor Hill receives $4,000 year,
and the Senators and Assemblymen re-
Ceiye $1,000 a wear One has only tn