The Salt Lake herald. [volume] (Salt Lake City [Utah]) 1870-1909, 1904-04-03
MANY CAPITALISTS DERIVE GOOD
INCOMES FOR ATTENDING MEETINGS

his $40 fee. even though he spent not
over fifteen minutes in a directors
meeting. II is related that one day
Mr. Sage managed 10 make a record Of
being present at six different board
meetings. Jay Gould. whose interests
were always closely allied with those Of
MI sage. was careless about his d.
rectOr's fees, and quite frequently he
would turn the prOffered gold pieces
over 10 a clerk or favorite porter. Mr..
Sage did not approve OF Mr.. Gould's
habits in this respect. and after a Ger.
tain Western Union directors meeting
he admOnished Mr.. Gould that habits
of thrift were not enEsndered in em-
ployes by the careless distribution Of
SO gold pieces.
j. PierpOnt Morgan is a member OF
thirty boards of directors. and he
is active in all of them. His partner,
Charles Steele. Is a director of thirty
five companies. and Robert Bacon. who
represents Morgan interests TO a large
extent. sits in twenty-five different
boards Mr.. Morgan is one Of the com
paratively few men who have been
known to leave a directors meeting
without taking his $40 or $50 gold piece.
There are plenty OF instances where
very rich men have momentarily for
gotten their directors stipend but
have quickly returned to the board
room to claim il.
George Gould Leading Figure.
Geo. ]. Gould takes a foremost place
in the management of the extensive
properties which Jay Gould left in
equal parts to his six children. BY a
special provision of Jay Gould's will,
his son George was left in absolute
charge of the railroad properties
known as the Gould system. and ne
was appointed arbitrator in any dis
putes that might arise between the
Gould heirs. George Gould is mem
her of fOrty-two boards OF directors
and gives close and loyal attention to
every detail Of the vast business Of
which he is the executive head. His d.
rector's fees, which tx is said amount
70 between $4,000 and $4,000 per an
mum, he turns over to his sister Helen.
to be used in her far-reaching chari-
table work Edwin Gould is also a
very active figure in business affairs,
being a director Of twenty seven cor
porations. Howard and Frank Jay are
not conspicuous in the management Of
the Gould estate, although each has a
sixth interest in it. When jay Could 5
viii was filed his estate was apprised
at $4,000 600. A conservative estimate
last August placed the value or the
same estate at $3.50. 000, 600
Two years ago r. h Hartman be-
gan to make himself known as a En-
ancial power in railroad affairs. With
in the decade he has achieved a posi-
tion scarcely second to any railroad
magnate. He today controls more
miles of railroad than any other man,
with the possible exception Of J. Pier
pOnt Morgan. He is a dominating fig
ure In forty different boards of direct
ors, and ell Of the companies that he
is interested in are so active and pros
porous that his fees as a director can
not amount to less than S12, 900 a year,
and this source Of income is probably
Of as little consequence to him as is the
nominal salary of the presidency of the
Missouri Pacific system to George ].
Gould
Belmont and Mills.
August Belmont, the head of the New
York Subway Construction company,
and the chief American representative
of the Rothschilds, is director in thir-
ty-five corporations He Is a man OF
highly aristocratic tendencies, and it is
doubtful IL he ever gives the matter
of directors fees any personal atten-
ton. d. o. Mills, of the very sub
stantial and practical millionaires Of
this country. is a member of thirty
two directories. and he pockets his di-