The Wichita daily eagle. [volume] (Wichita, Kan.) 1890-1906, 1903-01-18
Some That are Paid to the
Railroad Presidents.
BIG NUMBER OF THEM
In the Aggregate Steel Trust
Is Not in 1t With Them.


salari9.s of 10000 or over, has directed
attention to the compensation, has di-
recteds attention to the compensation paid
heads of great railroads and large banks
as sdffording a undressing basis of COM
pssrison. The Steel Trust has fixed $780,
900 as belonging to the Office of President
of the corporation itself, but has not
more than fifty men who will receive
from sle0o0 to $4,000 a year, some two
hundred who will get from $1,000 to sl0,-
700. and about 1,5c0 who are compensated
st the rate from $3.50 to $1,000 year.
Although the railroads and banks pay
some high salaries, very few men are
compensated at $4,000 or more a year. A
Careful canvass of the railway high-sal-
airy list, among friends of officers who
know what they paid, developed
some interesting facts. One railroad
president, A J. Cassatt. of the Pennsyl
wanna, is generally credited with receiv-
irg $4,000 a year. The presidents who
receive $50,oc0 a year. or near it, are few
in number. Some OF the younger men
brought east within the last few years
arc among these, and are paid about this
amount for the hard work they have
shown themselves capable of. When
Frederick ID. Underwood was talked of
tor ppresdent of the Erie James J. Hill.
it is said, told j. p. Morgan that he
would like to place Mr. Underwood at
the head OF the latter read. Mr.. Tn
derwood, who had strengthened the new
Baltimore and Ohio road as general man.
ager Eander the reorganization, made two
g,-s Of h. Eris
according to report was called to Mr..
MorEan's office one day and asked what
he had found 1t is understood that he
said thai with free sway he could save
~ per cent of the cost of operating the
Erfle Road, and put it on a par with
tlhe other trunk lines. He said that it
would take the hardest work of his life,
land that he would stake his reputation
on it for $4,000 a year. His terms were
accepted. William II. Tluesdale was
wanted by the Lackawanna railroad
early in 1899. He had become so valua-
bic TO the Rock Island as first vice
president and general manager that the
directors bid to retain his services. The
Lacka wanna however outbid the west
ern road, and Mr. Truesdale came here
direct affairs of one of the greatest coal
roads and TO make it also 4 great pas
senger system, at salary around $4,000
q year.
Samuel Spencer, president of the South
ern railway. which has spent millions
in developing the south. receives $4,000
O. year. r. p. Ripley. president of the
Atchison. Topeka and Santa Fe. since its
reorganization. whose policy has practi-
cally built up the system to its present
strength from Chicago to San Francisco,
receives $4,000 a year, it is understood
generally. Marvin Hughitt, president OF
the Chicago and Northwestern railway
since 1877. receives S5G000 year, and
A. ]. Earring. president of the Chicago,
Milwaukee and St. Paul railroad re-
ceives near that figure. William H. New
man. president of the New York Central,
probably receives $4,000. since he sue
ceded 5. r. Galloway. who received S4O-
600. it is understood. and accepted much
larger sum, said to he 100000 year. to
become the head of the American Loco
motive company. President Burt of the
Union Pacific was offered fattering
salary TO leave the Northwestern, and is
understood to receive about $1,000 year.
while no estimate can be placed upon the
several salaries of f. II. Hartman in his
Official capacities in Union Pacific and
Southern Pacific.
George b. Harris President of the Burl-
ington road is understood II receive 49,.
ooo a year. and c. S. Mellen of he North
ern Pacific a similar sum. James ]. Hill,
of ha horn Sprf1ri-
ties Company, is understood to draw
$4,000 a year. and nominal salary as
president of the Great Northern railway.
n r. Stickney. who heads the Chicago
and Great Western, probably draws a
salary of So, 600 a year He is the father
OF his own road. as few other railway
presidents are in the country. 3. +. Yoa-
KUN, president of the st. Louis and San
Francico system. which has been branch
ing out so widely the past year, is I'M
derstood to receive sS5,0o0 year. Sir
William Van Horn, the head of the Ca
madam Pacific. probably receives a salary
of So. 600 a year since becoming chair
man of the board Charles Hays. vice
president and general manager Of the
Grand Trunk road. was reported to have
that system when he left the Southern
Pacific Joseph Ramsey Jr.. president of
the Wabash road. is credited with draw |
ing a salary of $4,000 a year. George
Gould is president of many roads, and
through his control and that OF the Gould
family probably draws many salaries,
which aggregate a very large sum. chiefly +
made up of his salary as president OF the /
Missouri Pacific road.
Many presidents of large systems draw /
smaller salaries also from occupying the
nominal positions of presidents of several
controlled. or subsidiary companies. This
adds TO their welcome and in the +
case of an officer like f. p. Ripley for
example. is a consideration Of keeping
a man of great ability at the head Of a ,
system At salary smaller than he might /
he able To obtain somewhere else. Prob I
ably several railroad presidents receive
combined salaries as great as President
Cassatt's in this way. Smaller roads pay i
from si0.0c0 n year upward. according 20 I
the Importance of the line. its mileage. i
territory. and whether il is established
OF requires a master mind 10 develop Its
resources and the territory which it
serves. Many presidents positions are
actually nominal or merely executive. the
policy of their roads being directed from
higher up.
In the great -'one-man power system
which prevails generally on the railways
Of America, and in the great systems