The Brandon news. (Brandon, Miss.) 1892-1961, 1905-02-23
HE AUTHORIZED
DIRECTORS FEE.
PRESIDENT SAYS COMMISSION.
ERS SHOULD ACCEPT.
TOO SMALL TO TALK ABOUT
Every Corporation Pays Attendance
Fees to It's Directors, as a Result
the Commissioners Must Have Ac-
cepted Fees.

Washington The following ex-
tracts from the minutes Of the isthmian
canal commission of it's meeting held
October II last Explanatory Of the
directors fees taken from the Pana-
ma railroad company by members of
the commission, was laid before the
house committee on interstate and for
eign commerce by Chairman Hepburn
having been received from Commits
sioners Harris and Grunsky in letters
dated recently:
"The commissioners were also in
formed by the chairman that at re-
cent conference with the president
the matter of attendance fees paid to
the directors attending meetings pro-
vided by the bylaws Of the Panama
railroad company was referred TO and
that the president desired the commits
sion to be informed that his ord 81
fixing the compensation of the COM
missioners was not intended to pre-
vent the acceptance Of such fee. +"
Commissioner Grunsky stated that
the words "the president" in the
commission minutes, referred to
President Roosevelt.
No action in the matter was taken
by the committee. The letter OF
Commissioner Grunsky inclosed q
communication from him to Vice Pres
ident Drake Of the railroad company
of September Is, last in which he
returns unopened an envelope con-
tanning his fee for the first meeting
he attended He states that he did
not refuse the envelope at the time
it was handed to him at the close of
the meeting because he did not wish tc
embarrass his associates on the com.
mission He says he could not con
strue the attendance fee otherwise
than compensation and must decline
to accept it.
Weep President Drake resumed his
testimony. Chairman Hepburn i'm
mediately took up the mater of pay
ments for attendance on the meetings
Of the board of directors and the ex.
ecutive committee by members of the
isthmian canal commission. Mr.
Drake was questioned closely in re-
gard to minutes kept of the meetings
Of the board of directors and executive
board, stating that complete records Of
every meeting are preserved. He
said that all meetings have been at
tended by members of the canal com
mission, the attendance being record
ed. Members of the commission have
received fees for attendance at each
meeting.
Mr.. Drake said that the non-resi
dent members were not allowed mile
age and denied that any of the mem
bers of the isthmian canal commission
were ever paid travelling expenses by
his company.
"Has any change been made in the
salaries or compensation to officers Of
the company since January 1902?'
the witness was asked.
None, except to subordinate en-
ployes."
Mr.. Drake said there is a perfect de
tailed account of every penny spent
by the company.
Regarding the question of fees fol
attendance accepted by the isthmiar
canal commission as directors of the
Panama railroad, Admiral Walker
chairman Of the commission said:
Every corporation pays at end
ance fees to its directors. When the
members Of the canal commission were
made directors Of the Panama railroad
company some of the commissioners
thought that they were entitled tc
these fees and others thought not. AS
chairman of the commission went to
Pres. Roosevelt and told him that
under the president s order there was
a difference Of opinion among them en-
bers of the commission as to whether
they should accept these fees. The
president said that these fees should
be taken as matter Of course and
that the matter was too small to talk
about.
Cali Of the members of the canal
commission when told of the presi-
dent s decision did take the. fees.
There have been two meetings
month. There is no law that prevents
the members Of the commission from
accepting these fees. All shares be-
long to the government and no mem
Der Of The commission holds any of the
stock personally or to his own profit in
any way
Nor No4+ny, ETiIyc