Fort Worth gazette. [volume] (Fort Worth, Tex.) 1891-1898, 1894-04-08

sons OF these three gentlemen are represent
ed one Of the largest railroads, ono OF the
leading law firms and one OF tho most prom
inent trust companies Of the country. The
committee Is supposed TO meet once month";
II all three OF the members are present each
gets one hundred dollars. II only two are on
hand, they each receive one hundred and
ilfty dollars, and u only ono attends. he
walks OH with throc hundred dollars. This
may seem a largo sum, but Il II not, when
tho influence and standing OF tho men are
considered It is good business for the com.
pany and yet perfectly legitimate Tor all con.
corned
This IS really nothing moro than an imita.
ton OF the methods IN vogue Tor years in
England. Il has been tho fashion to invite
men OF prominence TO act as tho directors Of
companies and pay them stated annual sal
aries. There are lords and dukes aud sirs
and members Of parliament who reap hnnd-
some incomes from the salaries received by
them as directors Of corporations There are
well known 1gures in English finances who
practically advertise themselves ~ open 60
positions Of this sort. II their names add 10
the strength Of the company and attract cap
ltal to It's codcrs, they ore In eager domnnd
Half dozen knlghted gentlemen could be
named who arc kept constantly busy attend
ing meetings II was stated not long ago
TINT several Of these parties draw salaries In
this manner that aggregate $40 600 10 $780,
900 year. Ordinarily Il is no reflection
upon prominent man to indulge IN this
kind Of profitable pastlme. Certain It is that
In faw instances at least, the public is apt
to subscribe for the shares Of any company
inwhose boards Of management those gentle
men appear, They ara recognized ma careful
and cautiouF' aud when they join board It
means they ,'u satisfied Of tho soundnoss and
prospects OF the enterprise.
Here In America, II IL different. Up 70
date, no Influential citizen has posed as an
applicant for directorshlps. The mon OF
value to companies have TO DO coaxed to be-
come officials. They insist upon thoroughly
investigating tho concern they arc invited to
associate themselves with. The money con-
sidention Is not tempting enough Of Itself TO
bring them into line. II they join the board
they do so because thoy arc absolutely sntis-
fed Of its merit and future, or because
friends OF thelrs upon whose opinions thoy
NttA ANAgf sAAN AAANlNHANhf ANU uNNNlN iltll
that everything Is right How soon tho GUS
tom will become more general, Is a matter OF
conjecture. OF late years. prominent men
have more and more identified themselves
with various enterprises aud corporations.
One has but 10 glance over the list Of dlroct-
orr Of the loading banks insurance and trust
companies OF the largo cltios Of the country
TO perceive that, Every director IN all these
concerns gets nxed sum for his attendance
at every meeting In banks the amount is
understood 10 range from ton TO twenty-five
dollars. In Insurance companies and In
trust companies the amount usually varies
from twenty-five 70 one hundred dollars.
There is no criticism to oner to this habit
Tho directors OF prominent companies that
handle In trust or otherwise, great deal Of
money for other people, aud have prominent
aud perplexlng negotiations TO conduct con-
stantly, ought to be composed OF men Of tho
greatest experience the highest standing and
tho widest influence
LAWRENCE s. MoTT.