Montana labor news., 1937-07-29
Salaries of Corporation Executives

Daniel C. Roper, Secretary of Commerce,
has just published figures regarding the
wages of millions of working men and women
in industry which reveal that for their serv-
ices rendered in the creation of wealth for
those who own industry the average annual
wage in 1886 was only $1244.
In view of Mr.. Roper's figures, which are
based on a nationwide census of income
taken by the Government it is interesting to
note the annual salaries paid themselves by
the very corporation officials who together
fix the average annual wage at the indecently
low level revealed by MIR. Roper's data
level that does not enable the workers to buy
for themselves and their families the kind OF
food, clothing, shelter, education, health serv-
ice and other elements inseparably connected
with decent living standards.
Under the Securities and Exchange Act,
corporations are required to report to the
Securities and Exchange Commission the
salaries received by corporation officials The
reports for the year 1886 show that corpora
ton executives, who fix their own salaries,
are not thinking in terms of $1244 a year
allocated to the wage earners, but frequently
pay themselves twice as much as that amount
Tor one Gay WOIK.
A group Of salaries just made public by
the Securities and Exchange Commission IL
lustrates strilingly the high type of social
security which these corporation executives
appropriate for themselves and their depend
ents out Of the earnings Of industry made
possible by the productive work of the toilers
who labor for the puny average wage OF
$1244 year.
The board of directors of the General Elec-
trio Company paid Owen D. Young chair
man of the board, and Gerard Swope, presi-
dent, each $146,500, which included bonuses
of $4,000 apiece.
The directors of the Standard Oil Company
of California paid w. H. Berg, vice president
$75,075 and R. W. Hannah, SCOOPS. The ten
officer directors then voted themselves $780,
400, or an average salary of $59,4OO each for
the year.
The eleven directors of R. H. Macy & Com
pany paid Percy S. Straus, president, $lO2,-
42O. and Edwin L. Marks, vice president
$1O2,075, but made vice president Delos
Walker get along on the relatively small sal
ary Of $81, ,810 Then the directors voted
themselves a total Of $517075 for their serv-
ices for the year, or an average salary Of
51,70750
The board of directors of the Standard Oil
Company Of Indiana paid Edward G. Seubert,
president, salary Of $105 400; Allan Jackson,
vice president $59, 400; c. j. Barkdull, execu-
tive vice president and treasurer, $50, 400; W..
NJ Burton, annuitant $59310, and R. w.
Stewart annuitant, $45,722.
The management of Collins and Altman
paid Willis G. Mccullough, president, ,22O
for his executive ability for the year, and
Charles B. Rockwell, vice president $4518O.
R. l. Clarkson, chairman Of the American
Express Company, received SAL ,450 by order
of the board of directors; and F. P. Small,
president, $81, ,450.
The directors Of General Motors Accept
ance Corporation, subsidiary of General
Motors, paid John J. Schumann, Jr, presi-
dent, $80,405.
In connection with these large salaries,
which place their recipients beyond the fear
of want, it is instructive to recall that most
of the corporation executives in the United
States were violent opponents of the Social
Security Act, which provides at least an ap-
proach to protection from want for the mil
lions of wage earning men and women.