The Portland daily press. [volume] (Portland, Me.) 1862-1921, 1891-01-22
WAGES OF SOME BIG MEN.
Enormous Salaries Paid for Seem
IneIy Little Effort.
New York Sun. j

Chauncey Depew has always been
very reticent as to his salary as presi-
dent of the New York Central, but
others who appear to be familiar with
his income say that he certainly receives
from the New York Central SIS, 900 a
year, and that he makes from his outside
legal practice an additional SEQ, 900,
making his total income 500, 900 year.
This may seem an exorbitant sum to nav
to man whose career by most folks is
thought to be one of unalloyed pleasure.
But Mr.. Depew does not receive the
$4,000 from the New York Central in
remuneration for any severe manual
strain on his part, but for his compre-
hensive knowledge of the affairs of that
company and his ability to direct them
with the least possible friction. Mr. De-
pew'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
De able to answer them most satisfac-
torliy, and always in the interests of the
New York Central.
INSURANCE AND BANKING.
Then take some of the salaries of other
New Workers: H. B. Hyde, president of
the Equitable Life Assurance society,
receives $4,000; James w. Alexander,
the vice president, $40, 1000, and John A.
Mccall, the comptroller, $4,000. R. A.
McCurdy, president of the Mutual Insur-
ance company, receives $50, 900, and R.
A. Grannis, the vice president, receives
$4,000. w. Ell. Beers, president of the
New York Life Insurance company, re-
ceives $4,000, and DIR. Henry Tuck, the
vice president, $50, 900. John r. Hege-
man, the vice president of the Metropoli-
tan Insurance company, receives $35, 200.
D. o. Head, president of the Home Fire
Insurance company, gets $50, 900, and
John w. Murray, the vice president of
tho German-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-
ceives 500, 900; Richard King, president
of the Union Trust, receives $50, 1000;
Gen. Louis Fitzgerald, president of the
Mercantile Trust company, receives $780,
600; John A. Stewart, president of the
United States Trust company, toddles
along with $50, 900, and Col. w. L. Tren-
holm, president of the American Surety
company, receives $4,000 President
Williams, of the Chemical bank, and
President Perkins, of the Importers and
Traders, each receive 10000, and the
average salary of other bank presidents
in New York is from SIC, 900 to SIS, 900.
There is a long string of such salaries,
and the general opinion is that the men
earn their money.
The interests of these vast companies
are all under the minute observation of
the commanding officer. These interests
extend over all the globe, and require
the greatest Judgment and the most
skillful knowledge of affairs. Many Of
these officers by their keen knowledge
of affairs of state and nation save their
companies annually ten times the salary
they receive. They are provided against
almost every system of 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,
Weller e. Co. and other firms of that
cahber receive on an average SIS 900 to
$4,000 year. There are several excep-
tons where buyers and others run their
incomes up from $4,000 to SEQ, 200 a
year. This is in the dry goods iobbing
branch, because in the dry goods COM
mission branch the average salary of an
employe is from So 500 to 5000 year.
There are exceptional people who re-
ceive $500. All of these people earn
their money, too. The vast experience
necessary to buy goods successfully and
to keep in touch with the vast competi-
ton of the present dayis certainly worth
liberal income. Then the selling of
goods requires an extended acquaint-
ance, much personal outlay and the tenn.
permanent of a diplomat.
NATIONAL AND STATE OFFICERS.
Looking over these few facts and fig
ures the salary of the president of the
United States comes in for consideration.
The president receives $4,000 a 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 least.
But possibly the compensation for the
place is eked out by its great honor and
the hurras and cheers which greet the
president, no matter how unpopular he
may be, wherever he goes. The salutes
of the great cruisers, the bands 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 cannot be repre-
sented by his salary of So, 900 a year.
The cabinet officers receive $1,000 a
| year; senators and congressman receive
each 1000 year. Governor Hill re-
ceives $4,000 a year, and the senators
and assemblymen receive 81 500 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
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 abilities at the head
of the national and state governments
should consent to accept the salaries
paid to them. But then comes the uni
versal statement that the honors of the
places held by them in measure must
make up for this vast difference in the
pecuniary compensation.
The Lourdes Miracle.