The Scranton tribune. [volume] (Scranton, Pa.) 1891-1910, 1894-04-07

sons of these three gentlemen are represent
ed one OF the largest railroads, one OF the
leading law firms and one Of the most prom
inent trust companies Of the country. The
committee is supposed to meet once month.
If all three Of the members are present, each
gets one hundred dollars. If only two are on
hand, they eNch receive one hundred and
fifty dollars, and II only one attends, he
walks off with three hundred dollars. This
may seem large sum, but it Is not, when
the influence and standing Of the men are
considered. II Is good business for the COM
pany and yet perfectly legitimate for all con-
cerned.
This is really nothing more than an imita-
ton Of the methods IN vogue for years in
England. 1t has been the fashion to invite
men Of prominence to act as the directors Of
companies and pay them stated annual sal
aries. There are lords and dukes and sirs
and members OF parliament who reap hand
some incomes from the salaries received by
them as directors Of corporations There are
well known figures in English finances who
practically advertise themselves as open to
positions of this sort. Ii their names add to
the strength Of the company and attract cap
ital 70 its Golfers, they are in eager demand.
Half dozen knlghted gentlemen could be
named who are kept constantly busy attend
ing meetings. II was stated not long ago
that several Of these parties draw salaries in
thls manner that aggregate $4,000 TO $780,
900 year. Ordinarily 1t is no reflection
upon prominent man to indulge In this
kind Of profitable pastlme. Certain It is that
in few instances at least, the public is apt
to subscribe for the shares Of any company
in whose boards OF management these gentle
men appear. They Uro recognized Gs careful
and cautious, and when they Join board, it
means theyarc satisfied Of the soundness and
prospects, OF the enterprise
Here in America, 1t is different. Up to
date, no influential citizen has posed as al
applicant for dIrectorshIps. Tho mon OF
value to com panies have to be coaXed to be-
come officials. They insist upon thoroughly
investigating the concern they are invited to
associate themselves with. Tho money con.
s!deration is not tempting enough Of itself to
bring them into line. II they join the board
they do so because they are absolutely soti3.
fed Of its merit and future, or because
friends OF theirs, upon whose opinions the!
can rely, are interested, and assure them
that everything IS right. How soon the Gus
tom will become more general, is matter o.
conjecture. OF late years, prominent meT
have more and more identified themselve:
with various enterprises and corporations
One has but to glance over the list Of direct
ors Of the leading banks, insurance and trus
companies Of the large cities of the country
to perceive that. Every director in all Ties,
| concerns gets fixed sum for his attendance
at every meeting In banks the amount il
understood to range from ten to twenty-lly,
dollars. In insurance companies and il
! trust companies the amount usually raret
from twenty-five to one hundred dollars
! There is no criticism to offer to this habit
The directors Of prominent companies tina
handle in trust or otherwise. a great deal 0
money for other people, and have promnen
and perpleying negotiations to conduct con
stantly, ought to be composed Of men Of tn
greatest experience, the highest standing am
the widest influence.
LAWRENCE s. MORT.