The times dispatch. [volume] (Richmond, Va.) 1903-1914, 1910-01-31

| 4tNttll tNO COPPER CoiIlPuI1lCS. NIr, lJu
termyer's labors extended over tire,
or four years though he did goo,
deal else during that period than
merge copper companies. Possibly o
years or half a years full time would
cover all that he gave to the wort;
which nettcd him his tliree-quarter-
million dollar fee, though this Is con-
lecture AT any rate. though the court
apparently approved of the fee, minor
ity stockholders in one of the COM
pancs objected TO It as eXtravaEant,
and we find the Springfield Republican
nclinlng to the opinion that 1t is
"scandalously excessive and without
any reasonable economic justification.''
But when is reward excessive and
on what is tile economic justification
for reward based? Lawyers. like
other men, ask for their services what
those who engage them are willing to
pay. a lawyer swings no club or
Yields no magic. If he asks pay at
double or triple what his services are
worth, he would not be likely to at-
tract many clients. If these copper
companies could have gotten their
combine legally worked out to their
complete satisfaction for 100000, say.
we suppose they would never have
been willing to pay Mr.. untcrmyer
S750,000 for doing 1T. Yet they were
quite willing TO pay him this sum, the
largest single fee, it is said. ever paid
to a lawyer anywhere. Opportunity.
luck, prestige all count for good
deal in these matters. Possibly other
lawyers could have done the job as
well, or even better. at a much more
moderate fee, but the copper people
did not know of them, or did not be-
lievc that any such existed.
supreme fitness commands cxcep-
tional rewards in all lines of activity.
Tho uniquely equipped man, the best
man for the job, can have pretty near
y his own figure. John Hays Ham
nond's last contract with the Gug-
;cnheims called for All annual salary
If 100000. Charles NJ. schwab was
;iven $1.000,0oO a year in salary and
COMMISSIONS to take the management
t the steel trust. These two were
cgarded by their employers as .neces-
nry" men. Their services were sun
osed to be of the kind which brings !,
ack sums much larger than the sal
ry involved. Other engineers and
teel men, possibly equally good had
allied TO convince equally liberal en-
yson received $40 word for his
oem The Throstle," and Conan Doyle
;as paid $4,000 for twelve Sherlock
Iolmes stories. Were they over
aid?" Who shall say? The matter
Gems to rest between the payer and
he paid, and it all depends.
When we come to appraise unique
tness or absolute supremacy in any
cid. it is very difficult to determine
he economic justification" of a rate
f payment. Market-price standards
oi1apse WieH the ma het SoiSisss "
ne. Mr.. Untermyer's fee is certainly
# staggering size. Clearly he is for
innate TO be able to make so great
UNI at comparatively so little effort. 4
But if he and his clients agree that
is services were worth that figure to 9
hem, there is no reason in the world :
Thy he should not have 1t. That he
ersonally is ruthlessly rapacious, or
nything of the sort. will hardly be
rged by any one who remembers that
My the other day he was voluntarily
living his time to defending a poor
Italian woman charged with murder.
t compensation of nothing per day.