Sierra County advocate. [volume] (Kingston, N.M.) 1884-1960, 1892-07-29
FARMERS OF BIG WAGES.
From a New York Paper.


From New York Paper
The recent retirement of VIM
Fl. Beers from the presidency o
the New York Life Insuranc,
Company with which he had beer
SO long connected, and the election
of John A. Mccall in his place
has cansed a goodly amount o
speculation, just as such fnancia
changes always do.
But there was another feature
of the matter that surprised some
persons who do not know how valu.
able services of first-class business
men are rated in New York at this
time, and that was the publication
of the figures showing the great
salaries that this company has
been used to paying to It's officers.
Mr.. Beers had for many years
received salary of $4,000 year.
When he had rendered his resigna-
ton and 1t was accepted the officers
of the company at once voted to
continue to pay him $37, 500 half
pays year for the rest of his life.
John A. Mccall, who was selected
to succeed Mr.. Beers, was rece;v-
ing some thirty odd thousand
dollars as an officer in the Equit-
able Life Assurance Company, will
receive in his new position $780,
600 year for the work that he
will have to do, a smaller salary
than that paid to his predecessor
but one on which he will no doubt
be able to live some degree OF
comfort.
These big figures have stagger-
I'd some persons not familiar with
the workings of some of the big
corporations IN New York City.
They make their calculations from
the salary of the President Of the
United States.
"Here is the head of a great
country" they say, "and he is paid
but 5000 a year. He gets his
house free, of course, and some
other things he would otherwise
have to pay for, but, on the other
hand, he has to foot the bills for
big dinners, and receptions and
balls, and all this makes big hole
in his salary, ,unless,like MIR. Hayes,
he has very economical mind.
"But $4,000 is big salary for
q president of an insurance com.
pany, isn't it?" / asked.
"Of course it isl was the reply:
''but the men who get 1t are big
men:
"Don't you think for a moment
that companies pay those salaries
for sentimental reasons. There
Is no sentiment about it. The man
who is president of one these big
does not lie upon a
bed of roses. He must be a man
,ut OF the ordinary to begin with.
He must have brains and talent.
He must command full public con-
idence as an able business man
md as a man whose integrity can
,ot be in even the smallest way
questioned. He must be of eY-
and old enough 10 hold
he confidence of the conservative
nen who suspect youth. Yet he
must be young enough and robust
'nough to work harder than most
'l2a week clerks have to work.
lie must surrender all to the COM
,any he serves. Stockholders judge
president of a company by his
uccess in paying satisfactory divi-
lends.
snow" the financier went on,
how many men in l 600, or, for that
natter, in 100000, do you suppose
omblne all these qualities2"
The reporter was quite willing
D admit his inability to say how
many.
"Well, l don't know, either"
aid the financier, "but the number
sn't large. It's smaller than
aost persons think. When one
ONES to the front be is at once in
emsnd, and at q big price. Look
the job John A. Mccall has on
4lSn