Sierra County advocate. [volume] (Kingston, N.M.) 1884-1960, 1892-07-29

other old business, and probabl
: the stockholders will expect him I
get another $3.50, 100000 worth O
new business this year. When
man has to do such work as tina
he is worth $4,000 gear and 70
: that matter more.
"Tbe day of low priced men j
over. They are inferior men, an,
are dear at any price. Companle
with millions of dollars investe,
must have the very best brains il
the market, and they must pay fo
them. That Is why they have suci
imposing salary lists. The none,
spent this way is we'll invested"
The argument set forth by the
person quoted is that used by
other men, who, like him, are &C.
.quainted with the minor workings
of our big financial corporations
1t is, indeed, not unlike wha,
Chauncey NJ. Depew SAID not &c
long ago. He held that the labor
er was worthy of his hire, but held
that the wages must be regulated,
at least when the labor was per-
formed IN the domain of brains, by
the ability of the workman and the
importance of his work.
Mr. Depew ought to know. He
gets $4,000 year rs president Of
the New York Central and has
palatial travelling cars and other
good things. Yet no one seems to
doubt that he is worth every pen
ny paid him by his company Nor
Is it likely that his employers
would hesitate long about raising
his salary $4,000 or so more if
there was question of retaining
or losing his services.
Big corporations do not hesitate
now to pay large sums for actual
services. They go upon the prlnci-
pie that it Is better to pay $780,
600 in year to men who serve it
than to save this by not employing
such men and lose 100000 in
year through hlundering.
When the great Sugar Trust"
was organized ten years ago the
firms interested paid an enormous
fee to the law firm that arranged
the matter. One newspaper put
it at $750,000. The very smallest
estimate was $250,000. Either way
1t was big sum, and 80 far as is
known the trust did not baggle
alb out it.
Henry b. hyde, who is the head
of the Equitable Lite Assurance
Company, is said to be paid some
$4,000 year for his services,
There are any number of other
men who hold positions under him
who get from $4,000 to $4,000 a
year. There are agents of the CON-
pany working mainly onommlssion
who also dlaw immense incomes
There is one man, an agent for one
of the big companies, who last year
secured for his company $40, 100000
Of new business. A man like that
is worth big salary, and his com
psny has recognized the fact by +
HIM one OF its vice pres
idents.
The other presidents Of the big
insurance companies all receive
large salaries, although none of
them, perhaps, 80 much as does
Mr.. Hyde, but all enough to
enable them to ENJOY as much of
the pleasures of this life as res-
sonable men usually seek for.
Frederick p. Olcott, the presi-
dent OF the big Central Trust Com
pany in Wall street. is said to re-
ceive not less than s35, 900 yearly.
The Farmers Loan and Trust
Company, one OF the richest con-
Germs in this country, is equally
liberal with its managers. so it Is
,aId, while the Mutual Trust, the
Union Trust, the Mercantile Trust,
he Metropolitan and other trust
companies, all of them cling to the
policy of employing the best men
n the market aud of paying the
highest market price for them.
When John Hoey was at the 9