The morning call., 1891-01-18
WAGES THAT Big MEN EARN.
ENORMOUS Salaries That Seem to Be Paid for
Very Little Effort

Some OF the people in the financial and
commercial circles are telling of a movement
among certain employers and heads of great
houses to cut down salaries for the coming
year. This line of policy has been dictated.
1t Is said, by the events of the last few
months, and it has opened up a most inter
estlng discussion, says the New York Times
Chauncey Depew has always been very
reticent as to his salary as President of the
New York Central, but others who appear
10 De FAMILIAR with his income say that he
certainly receives from the New York Cen
trai $4,000 year, and that he makes from
ms outside legal practice an additional S95
| wv, making his total income 500. 600 a vanr
Inns may seem an eXOrbitant sum to nav IN
| man whose career by most folks is thought
10 be one OF unalioYed pleasure. But Mr.
| Depew does not receive the $4,000 frnin tba
! New York Central in remuneration for any
! severe manual strain on his part, but for his
| comprehensive knowledge Of thu affairs of
mat company and his ability to direct them
WIN the least pc ssible friction Mr.. De-
pew Office from early morning to late AT
night is filled with all sorts of people. with
all sorts OF questions, and the man vino re-
celVes the big salary he does must be able
TO answer them most satisfactorily, aud al
ways in the interest of the New YorL o.
trail
Then take some of the salaries of other
New Workers. ii. b. Hyde, President of
the Equitable Life Assurance Society. re
ceiyes $4,000; James w. Alexander, the
Yice-President, $4,000. and John A. Nc
Call, the comptroller, S25 600 r. A. Nc
Curdy, President of the Mutual Insurance
Company, receives $4,000, and L. A Gran
mis-, the Vice-President, receives $4,000 w
II. Beers, President of the New York Life
Insurance Company, receives $4,000. aud
DR.. Henry Tuck, the V Ice President. $50.
X HHTaman a..
OF the Metropolitan Insurance Company re-
ceives $4,000 ID. o. Head, President az
the Home Fire Insurance Company. gets
$4,000, and John w. Murray, The Vice
PRESIDENT OF the German-American Conn
pJny, 3d. 600.
Then look at some of the salaries paid to
the ehlef officers of banks and trust COM
panles. Frederic p Olcott, Pres dent of the
Itntral trust Company, receives $4,000;
Richard King, President OF the Union Trust,
receives $4,000; General Louis Fitzgerald.
President OF the Mercantile Trust COMPANY
receives $50 600; John A. Stewart, President
OF the United States Trust Company, toddles
along with $4,000; and Colonel w. l..
Trenholm, President of the American Sure
tY Company, receives $4,000 President
Williams Of the Chemical Bank and Presi-
dent Perkins of the Importers and Traders
each receive $4,000, and the average sajary
OF other b'nk Presidents in New York is
from $4,000 10 $4,000 There is long
string OF such salaries and the general
opinion Is that the men earn their money.
The Interests of these vast companies are
all nnder the minute observation of the
commanding officer. These interests extend
over all the globe and require the greatest
judgment and the most saiilful knowledge
OF affairs. Many of these officers, by their
keen knowledge Of affairs Of State and ma
tons, save their companies annually ten
times the salary they receive They are pro-
Ylded against almost every system Of black
mail by reason Of their vast experience ia
the conduct of their companies and earn
their salaries many times over.
Up in the dry-gOods district the big men
OF the Clatiin COMPANY, Tefft, Weller e. Co..
and other firms OF that call Der, receive on an
average 5000 10 $4,000 year. There are
several executions where buyers and others
run their incomes up from $1,000 10 S21,O0O
year. THIS is in the dry-soods iobbiug
branch, because in the dry-goods commls-
sion branch the average salary of an en-
ploye l. from $500 to 5000 a year. Ttere
are exceptional people WHO receive 5000.
All If these people earn their money. too.
The vast experience necessary to buy goods
successfully and to keep in tOuch with the
vast competition Of the present day Is Ger
talny worth liberal income. Then the
selling OF goods requires an extended ac-
quaintance, much personal outlay, and the
temperament of diplomatic.
Looking over these few facts and figures,
the salary Of the President Of the United
States comes in for consideration. The
President receives $50, 900 il year, and from
the day he enters the White House until the
hour he leaves 1t 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 holder,
and ofiee-seekerS who beSiege HIM ought to-
make the place worth 500. 900 year at
least. But possibly the comp ensation for
the plare is eked out by its great honqr ana
the hurTahs and cheers which greet the
President, no matter how unpopular he may
be, wherever he goes. The salutrs ii tie
great cruisers, tie bands playing HAL to
the Chief" the great personal hOnors shown
the holder OF the flee, 10 doubt are in
tended to make up the compen Satiou, which
cannot be represented by his salary of $50
600 year. The Cabinet officers recri9e
$4,000 year. Senators and Congressman
receive each 5000 a year. Governor HUI
receives $4,000 a year, and the Senators
and Assemblymen receive $500 a year
One has only TO look at the difference in the
figures received by men in public life and
those paid to men who reach tie pinnacle in
business life in New York to observe the
great difference and to wonder at it. The
wonder Is that men of personal abilities at
the head Of the national and State govern
mentS should consent TO accept the saIarlrS
paid TO them. But then comes the universal
statement that the hOnors of the places held
by them III measure must make up for
this vast difference in the pecuuiary conf
pensation.