Evening times-Republican. [volume] (Marshalltown, Iowa) 1890-1923, 1905-06-21
an attorney who gets 100000 and a
dozen more who get $4,000 to $4,000

dozen more who get $4,000 to $25,O0u
each.
1t is quite evident from this feature
alone that the Equitable Life has not
been run for the benefit of the men
who have been doing the paying.
Elmer Dwiggins, of Des Moines, I'M
til recently the general agent for Iowa,
said in an interview not long ago. that
Hyde was made first vice president
when he was 81, that he does no work.
that he is a profligate and that any bill
that any two of the executive officers
O. KS Is paid. In this way the swell
dinner to the French ambassador wa :
paid for out of your dividends, $4,000.
and yet. this company keeps an aud
itor at $12,500. l wonder what his du-
ties are. Apparently all he does is to
identify the signatures of the men who
o. K the bills. On that day Hyde must
appeared on the scene.
Were these facts not known to be
true, they would seem so Incredible
that no one would believe them. 1t is
unbelievable that men would have the
supreme gall to do such things and
keep it up. And this brings us right up
to the question of 100000 salaries. To
say that they are earned, or paid to any
man on merit. is simply absurd, and
yet, have before me a letter from
leading life insurance secretary, an
honest man, in which he undertakes
to defend them. They are just as
indefensible as stealing. No executive
officer ever received 100000 year
becallse he earned it.
The Equitable Life of Iowa, a COM
pany not so large as the Equitable
Life of New York, but if results are
to be taken as evidence, incomparably
better managed, pays no salary larger
than $4,000. The Northwestern Mu-
tual Life, of Milwaukee, company
that has challenged the admiration Of
of the whole life insurance
world by it's superb man.
agement, pays it's president va
900, and am told by Mr.. Williams,
of Davenport, that the chief medical
examiner gets only $4,000.
Here are two companies that have
been so managed that today they lead
all the life companies in essential re-
suits. If the officers of these compan-
les should be transferred to the Equit-
able of New York. by the system OF
graft, there practiced, they would each
be worth 100000 a year, and by COM
parison they each ought to get one
million.
LYMAN Cage when he became Sec
rotary of the treasury, was getting
salary as president Of the First Ma
tional Bank of Chicago, Of $4,000, ana
at that time 1t was one of the large
salaries. This man had charge OF
great bank. He was worth only $l5,-
900 Alexander, a mere nobody not
many years ago, was worth SlVo'ooo.
Hyde, profligate, so his general agent
saws. was worth 100000, while nVe
of Alexander's sons and nepheWs
were drawing 100000. Mr.. w. u. cur
tbs SAYS it is not fair to call MI. Hyoe
q profiigate. He admits he is light
weight" but he says that as to morals
he is a fairly respectable rich man $
son. , c.o.o.
The president of the United Stases
gets $4,000 The the Try on when ti1's
"a pald is not that he earns 1T, bus 'nat
his position entails extraordinary ex-
penditures. Not long ago the president
was looking for man to take charge
of the Panama canal. He got the man
who appeared to be the most compe-
tent in all this country and he gets
$35 900.
The Alexanders and the Hides
measured by such men, appear con-
temptibly Insignificant. Paul Morton.
when he entered the cabinet, was re-
ceiving as vice president of the Santa
Fe, $4,000. AS chairman of the Eauit-
able what is there to enhance his
worth to 100000? And yet, have
no doubt, he is in point of ability, head
and shoulders above any life tnsur-
ance president in New York City.
The whole system is a system of
graft. No man in this country gets
100000 a year unless he has a pull"
schwab got 100000 from the Steel
trust, but this was not paid him for
his ability as an executive officer, but
for his ability as bunco steerer. In
other words this 100000 was not sal
airy, but simply his share of the swag.
SO Alexander's 100000, and Hydc's
500, 1000 and John A. McCall's 100000,
president of the New York Life, and
McCurdy's $4,000, president of the
Mutual Life, is not salary at all, but
simply their share of the swag.
Huge Task.
~. q