The Montgomery advertiser., 1904-10-23

4449 -SkN recivd s fee of $t.ooo.ooo for settling the suit between Andrew Carnegie anc H. c. Prick. W. D. Guthrie Is also understood to have received a fee of s1.ooo.ooo for breaking the will of the late Henry Bradley Plant. These are believed to be the largest single fees ever paid lawyers in this country The largest salaries paid any bank president of this country is under. stood to be $50.000. The president os several of the large Wall street banks and trust companies are known to re ceive this salary. There is also one bank president in Chicago who re- cetves salary of $5o.000 year. As rule, however. the presidents of ths large Wall street banks are ve. = wealthy, and their salaries form only small part of their annual income. Men of sufficient ability to gain the controlling position in prominent Wall street banks are sought for as direc- 1 tors in trust companies and other f- nancial institutions. to say nothing of the number of reorganization commit l tees on which they are asked to serve. James Stillman. the president of the National City Bank. is a director in more than forty different corporations. All of these positions pay we'll and take up but little time. being in most instances of an advisory nature, and without onerous duties. In this way the annual incomes of the presidents of the prominent Wall street banks are very largely increased.
 The largest salary paid any railroad President in the United States is s75,- 900. There are at least three Presi- dents who are understood to draw this salary--A. J. Cassett of the Pennsyl- vania; James J.. Hill of the Great Northern. and l.. F. Force of the Rock Island. There are quite number of other railroad Presidents who draw annual salaries of s5o,0oo. Three General Manager of the Baltimore and Ohio. when one day he was requested by James J. Hill to make an exami- nation of the Erie Railroad and report on the possibilities of the system. Af- ter Mir. Underwood had made the ex- animation he one day received a mes- sage from T. P. Morgan, asking him to call at his office. Mir. Morgan, ask ing him what he had found as the re- suit of his inspection of the Erie. Mir. Underwood replied that with free sway he could save 20 per cent of the cost of operating the company, and put it on a par with the other trunk lines. He said that 1t would take the hardest work Of his life. and that he would stake his reputation on 1t for $50,0 a year. His terms were accepted.
 Samuel Spencer of the Southern Rail- way, E. P. Ripley of the Atchison, Marvin Hughitt of the Chicago and Northwestern and William II. New man of the New York Central are un- derstood to draw salaries of $50.O00 a year. Joseph Ramsey. Jr., of the Wa bash, is credited with drawing sal ary of $40,000 a year. There are q large number of other railroad Presi- dents who draw salaries ranging be- tween $25,o00 and $S5,o0o year,
 In the matter of salaries the larger industrial corporations appear to be more liberal than the railroads. s. c. T. Dodd, the General Solicitor of the Standard oil Company, probably re- ceives as large a salary as any other person in the country. He is said to draw a salary of $250.o00 a year. When Charles M. Schwab was President of the United States Steel Corporation he draw an annual salary of $100.000. When MT. Schwab resigned the salary of the President of the Steel Corpora tion was reduced to $75,000 a year. This reduction was made because of. the fact that many of the duties that Mir Schwab had performed as pres ident were turned over to various com mittees after his resignation. In ad- dition to his salary of $75,000, William k. Corney makes a commission on the volume of the business of the com pany. In this way his income probably averages over $1O0,000 a year. The late president of the American Locomo- tive Company. was said to have drawn a salary of $10O,000 a year To accept that position MT Galloway resigned the position of president of the New York Central. Henry O. Havemeyer presi- dent of the American Sugar Refining Company, is understood to draw d sala- ry of $100.0 900 a year. c. A. Coffin, of the General Electric Company. is un- derstood to draw salary of $I5,000 year.
 The head officials of the more inn portant life insurance companies re- ceive very large salaries. President Mccall, of the New York Life Insur- ance Company, is said to draw a salary of $150,000 year. There are said to be at least five other officials of the company that make as much as $50,000 year. The other prominent life in- surance companies pay equally as liberal salaries, the head officials of all of the large companies receiving as much as $1O0.000 a year.
 Some of the largest salaries in the world are made by the junior members of the prominent international bank ing houses. In Wall Street 1t is gener- ally understood that Sir Clinton Daw- kins the head of the London branch of J. P. Morgan O.. draws a salary of | $250,00 a year This Is a guaranteed salary, while Sir Clinton also shares in the profits of the firm over a certain amount The system that prevails in the firm of J. P. Morgan & Co.,. as we'll as among the other large banking firms, Is to give each junior member a per centaRe of the years profits. In the case of J. P. Morgan & Co. the per centages are fixed by MT. Morgan. As the annual profits of J. P. Morgan & Co. ar understood to have been not less