The Indianapolis journal. [volume] (Indianapolis [Ind.]) 1867-1904, 1898-01-02
And If il be so given thee
PRINCELY SALARIES.
Men Who Receive Them, and How
They Come to Do 1t.
Success.

They Come TO DO Ats
Success.
Fifty thousand dollars year! No wonder
the average candidate is so eager to be
elected President of the United States. :,
Fifty thousand dollars year! 1t would
give steady employment to a hundred COM
mon laborers, or sixty skilled workmen.
1t means nearly $137 every day, Sundays as
well as week days, nearly Sc every hour OF
minute. With it the President and his wife
could buy new $500 house every month,
every week, could employ dozen servants,
could supply their table with the best the
market affords, and still have money left
for the wants of their children.
But there are more than a score of men
in private positions in the United States
getting a check for ST, 1888 80 every month for
your salary, as does Chauncey M. Depew-
$50 900 a year as president of the New York
Central &, Hudson River Railroad the Lake
Shore and other Vanderbilt lines, and $50
coo more as the head of the law department
of these roads.
Another man who gets 100000 a year.
twice as much as President Mckinley. and
who is generally senior counsel in nearly
every case where the patent rights pertain
ing to telephone electrical devices of any
kind are involved in litigation, is Mr.. j.
J. Storrow, one of Bostons lawyers 1t is
said that he knows patent law, as it relates
to electrical appliances, better than any
other man living. Edison says Mr. Storrow
knows as much about electricity as he does
himself.
Conrad II. Mathieson, who combined all
the glucose manufactures in the United
States under one management, with a cap
ital of S40,O00O00, is paid $4,000 a year as
president of the Chicago Sugar Refining
Company. Although but thirty-two years
old, he won the confidence of such men as
Marshal Field. the Farwells, and j. Pier
pont Morgan, the latter investing 100000 in
the new concern.
Another man who gets the same salary
as the President of the United States is
John A Mccall. president of the New York
Life Insurance Company.
The Sugar Trust paws John +. Parsons
$50 900 year for looking after its interests.
When he merged the different retineries in
to one. big concern, he received the largest
single fee which was ever paid an attorney
--$250,00O. Although he is retained by the
ness he wishes provided he remains sub
ject to the orders of the Havemeyers.
The manager Of the Carnegie Iron Ia and nd
salary. He rose to this enviable position
from the ranks of steel and iron workers.
and knows every detail of the great enter
prises he directs. He is already worth sew
eral million dollars.
President stuyvesant Fish, of the Illinois
line from Chicago to New Orleans, is a son
of Hamilton Fish, who was secretary of
state under President Grant.
Mr.. Fish is in the prime of life and has
had the remarkable distinction of carrying
his great railroad system through the hard
times without emitting single dividend.
Alexander Miller gets $4,000 a year as
agent for the greatest British steamship
lines plying between Liverpool and New
Frank Thompson, president of the Penn
sylvania Railroad system, although still a
young man, gets a salary eq gta to that OF
There are only two or three railroad man
ayers in the United States who are paid as
well.
]. M Tousey, general manager of the
Vanderbilt systems gets a salary of $4-
1866 the first of every month, and he earns
Henry E. Hyde. president of the Equita-
BILE Life Insurance Company, which mas
a capital of over hundred million dollars,
gets a salary of $4,000 a year.
Thomas L. James, president of a large
New York bank, which has perhaps the
heaviest line of deposits of any bank in
America also gets $4,000 for his services.
H. G. Fahnestock, one of the brightest and
most level-headed bankers in the country,
who was in charge of the bond department
of Jay Cooke & Co., of Philadelphia. be-
fore he was thirty, years old, gets $4,000
salary as the president of a national bank
in New York which he organized after the
failure of Jay Cooke.
1t was this brilliant young man who en-
gineered the great Northern Pacific rail-
road scheme through Congress, with its
land grant of 100000 acres and other val
liable franchises. He it was who suggested
the plan of advertising these Northern Pa
cific bonds in the religious weeklies, which
proved to be one of the most profitable ad-
vertiSing ideas ever adopted. Within year
after he esta blished his bank in New York,
he amazed the financial world by declaring
two semi-annual dividends of twenty-five
per cent. each. He got the agency for the
sale of United States bonds and sold $40
10000 worth, from which he made hand
some sum.
Joseph Choate perhaps the leading lawyer
in the United States. gets $50 600 a year as
a retainer from the Whisky Trust. 1t does
not seem many years since Mr. ChOate
was head clerk for the law firm of Evarts
& Southmayd. But he was determined not
to be clerk all his days, so he studied law
all his spare time and was admitted to the
bar The firm occasionally sent him to
the country courts to try cases where the
members did not care to go themselves.
They soon noticed that the young lawyer
won most of his cases He was very bright
and would often present some points that
the court had never heard of before: or If
it were a jury case, he would manage to
raise doubt in the minds Of some of the
Jurors that would give him the verdict.
When William NJ. Evarts. the senior part
ner entered politics, Choate was taken into
the firm. 1t is said that he now has pro-
fessional income of $4,000 a year. mostly
from great business combinations.
He is attorney for the Dry Goods I'M
Dorters' Association. the Whisky Trust, the
Wine Innorters' Association. and some half
dozen railroad companies.
There are probably half dozen surgeons
in New York who earn $4,000 year.
although such an income is not strictly a
salary. Nearly all are under fifty years of
age. Among them are DR.. William Bull,
DR. Polk. DR.. Sims, of Marion Sims,
DR.. Wyeth and others.