The news & observer., 1905-12-30
WHAT is YOUR NAME WORTH?

What is your name worth?" That
| is a question every man ought to ask
himself when asked to sign any sort
of document or to become a director
of any institution or enterprise. Some
men permit their name to be used to
bolster UP concerns of which they
know little, thus cheapeninS their
name and injuring their reputation.
A few months ago most new enter
prises in the metropolis sought to
secure Mr.. Chauncey M. Depew as
director, and he was director in more
than an hundred corporations. III
was impossible for him to be capable
director in so many concerns Today
concerns dependent upon popular favor
would run away from having Depews
name associated with them just as few
months ago they would go far to Sc
cure the prestige of his name. why
the change? He used his position as
director to borrow money on worth
less collateral and, instead of looking
out for the interest of the policy
holders, was the man the officers re-
LIED upon to propose increases in saia-
ries and like extravaganza. Ihe re-
suit is that his name is below par and
nobody wants it.
No man has had so true a concep-
ton of the value of his name as Rob
ert e. Lee. At the Southern Society
banquet in New York this week, Rev.
Ernest NJ. Stires, d. d., of St Thomas
church. responded to the toast "Prin-
ciples' and recalled a story about Lee
that gives more lustre to his name
than his military achievements. Mr..
Stires said:
Forty wears ago General Robert E'
Lee was offered the presidency OF d
Northern insurance company at d sal
iarv large for those days. He wrote that
he hadn't the ability or the experience
to command such q salary. lie was
told that his name was worth 1t. w NAT
influence | have with the Southern
people is not for sale said Lee.
We would commend the example
Of Lee. particularly in this day OF
frenzied finance, when the names of
good men are solicited to carry
through doubtful enterprises, to every
man who puts the correct value upon
his name. 1t may not be known out
side the small community in which
Won reside, but it is important that
Won do not lend it to any questionable
or doubtful enterprise, or permit 1t to
be bawked about on this or that paper
or petition If you do, soon your
name will become worthless.
Recently, when the scandals of the
Equitable Life Assurance Society
nauseated the American people. rich
New Yorker who purchased the stock
put a. notorious rebate-Slver at the
head of the company. lie had never
had any insurance experience ana
couldn't earn $4,000 on his merits with
anv insurance company in the world,
and yet Morton was paid $SJ,Oo0 10 De
the head of the company. Ihat ap-
pointment called FIR sharp criticism,
and in order to placate the pubhc the
purchaser of the stock looks ABOUT 10
get men of standing to lend the use
of their names as directors. What for
Ihdt l0ey hight COllpcl lCoIiNo'ioii "
stolen money? Stop the use OF the
funds for speculation? Not at all, but
merely to be advertised to bolster up
the company Unfortunately somC men
| of standing in the South, who had not
studied Lees example with profit, lent
their names to the new mana cement
They should have promptly declined
| and given the same reason Lee gave
when a great Northern insurance COM
pany offered him pay for the use oI
| his name i'm a day when his own for
| tune and the fortune of all his neigh
bors had been shattered.
Unless a man is careful of his good
name. it will not remain good. lie
| should not put any stain upon 1t him-
| self or lend it to any concern that mas
| not the best reputation, and that he
does not know of his personal knowl-
edge is giving everybody who has BUS
mess with it "a square deal. Above
| all, no public man. who has gaineu
| the confidence of the people in serving
them. has the right 20 sell any lnil'l-
ence gained in that way. T"neral
Lee made a rule that should be FOL
llowed by all men, whether their circle
of influence is narrow or broad.