Wheeling Sunday register. [volume] (Wheeling, W. Va.) 1882-1934, 1894-04-01

COMPANY. One instance will suffice as
an example OF all. There is q young
but vigorous and successful insurance
company that possesses an advisory
committee consisting or Chauncey NJ.
DepeW, Benjamin Z. Tracy and Charles
S. Fairchild Ia the persons OF these
three gentlemen are represented one
OF the largest railroads, one OF the
leading law firms and one OF the most
prominent trust companies Of the coun-
try. The committee is supposed to meet
once month, ii all three OF the men,
bers are present, each gets one hundred
dollars. III only two are on hand, they
each receive one hundred and fifty dol
lars, and IL only one attends, he walks
of with three hundred dollars. This
may seem a large sum, but it Is NOT,
when the Influence and and standing OF
the men are considered. IL is good
business for the company and yet per-
isctlv legitimate for all concerned.
This is really nothing more than an
imitation Of the methods in vogue for
years in England. IL has been the fash
ion TO invite men OF prominence to act
as the directors OF companies and pay
them stated annual salaries. There are
lords and dukes aud sirs and members
OF Parliament who reap handsome In
comes from the salaries received by
them as directors OF corporations.
There are well known figures in Eng
fish finances who practically advertise
themselves as open 10 positions OF this
sort. II their names add to the strength
OF the company and attract capital TO its
Golfers, they are ia eager demand.
Half a dozen gentlemen could be named
who are kept constantly busy attending
meetings. 1t was stated not long ago
that several Of these parties draw sal
aries in this manner that aggregate
SIS, 900 20 500, 600 year. Ordinarily
10 is no reflection upon prominent man
20 indulge In this kind Of profitable pas
time. Certain 10 is that in a few in
stances az least the public is apt TO sub
scribe for the shares of any company in
whose boards o. management these gem
men appear. They are recognized as
careful and cautious, and when they
Join a board IL means they are satisfied
Of the soundRess and prospects OF the
enterprise.
Here in America, It IS different. Up
to date no Influential citizen has posed
as an applicant for directorships. The
men OF value to companies have to be
coaxed to become officials. They insist
upon thoroughly Investigating the con-
Germ they are invited to associate them
selves with. The money consideration
IS not tempting enough OF itself to
bring them into line. III they join the
board they do so because they are
absolutely satisfied Of its merit and
future, or because friends Of
theirs, upon whose opinions they
can rely, are interested, and assure them
that everything is right. How soon the
custom will become more general, is
matter OF conjecture. OF late years,
men have more and more
identified themselves with various en-
terprises and corporations. One has
but 10 glance over the list OF directors
OF the leading banks, insurance and
trust companies Of the large cities
Of the country, TO perceive that.
Every director In al these concerns gets
a fixed sum for his attendance az every
In banks the amount is
10 range from ten 10 twenty
tive dollars. In insurance companies
and In trust companies the amount us
ualIy varies from twenty-five 20 one
hundred dollars. There IS no criticism
20 offer 70 this habit. The directors OF
prominent companies that handle, 10
trust or otherwise, a great deal OF money
FOR other people, and have prominent
and perplexing negotiations 10 conduct
constantly, ought TO be composed OF men
OF the greatest experience, the highest
stand ing and the widest influence.
LAWRENCE ). Morn.