Evening star., 1951-06-10
C.E. Wilson OF GIN.
Gets S626,3OO; Top
Pay in U. s. for 1850
BY the Assoeiated Press


Number one on the American
pay parade for 1850: Charles e.
Wilson of General Motors.
The $626,300 that GIN paid its
president easily landed him the
top spot among business execu-
tives whose corporations must file
reports with the Securities and
Exchange Commission.
A survey. of SEC records yester-
day showed Mr.. Wilson outdis-
tanced his nearest competitor by
$84,875. His closest competition
came from his own ranks. Albert
Bradley, GIN executive vice presi-
dent, won the number two spot
withe$54l, ,425.
A close third was Crawford II.
Greenewalt. president Of e. ]. Du-
Pont de Nemours and Co.. another
giant Of American industry. with
$539.550.
No Relation to Defense Chief.
At $3.50, 800, GINS Mr.. Wilson
(no relation to Defense Mobilizer
Charles E. Wilson, late Of General
Electric which paid him $201 ,016)
was. earning pay at the rate of
better than $4,000 a week.
However. all the earnings listed
are gross incomes, before payment
of taxes. They are for the fiscal
years Of the various corporations,
not for the calendar years.
Federal income tax alone takes
a big bite out Of incomes in the
100000 to $626,500 class.
At 1850 rates. this tax bite
ranged from about $122,000 on a
net income Of 100000 to about
$470,000 on a net Of $626, 300. How
ever, on gross compensation such
as is reported to the SEC, there
would be reductions for business
expenses, charitable donations and
so on. The tax examples noted are
for married men; bachelors and
widowers pay much more.
Two other GIN executive vice
presidents, Marvin E. Coyle and
Harlow n. Curtice. tied for fourth
and fifth place in the pay parade
with $525, 100 each.
Altogether, GIN executives were
in seven Of the II top spots.
COfton Broker Is Sixth.
Sixth place went to J. C. Del
linger, a director Of Anderson,
Clayton Co.. cotton brokers of
Houston, Tex. Mr.. Dellinger, who
is manager of the company'sI
Pacific Coast territory, drew $468,-
271, of which only $4,000 was
salary, the rest bonus. His $458,-
271 bonus was the largest Of any
executive last year.
Eugene G. Grace. board chair
man of Bethlehem Steel Corp, was
seventh with $464,321. This in
cluded $150,000 salary and $314,-I
321 bonus.
Eighth and ninth places went to
two executives Of the National
Steel Corp, OF Pittsburgh. Ernest
T. Weir, board chairman, drew
$459,025-$159,o25 in salary and
100000 bonus. George r. Fink.
president, got $458, ,925-$158,925
in salary and $500, 900 bonus.
The 10th, 18th and 18th spots
went to these GIN executive vice |
presidents: Ronald K. Evans,
$446,825; Louis C. Goad. SAL, 100,
and Frederic G.. Donner, SAL ,070.
Bonuses. profit sharing, incen-
tive compensation and deferred
payments plans accounted for
large additions to the gross earn
.ings of most of the at least 371
executives who drew 100000 or
more last year.
AS examples. General Motors
bonuses exceeded salaries. Mr..
Wilson's top income included
$201 300 in salary and bonuses of
$363,795 cash and GIN stock val
ued at $61 ,205. GIN followed the
practice Of providing stock as part
Of the bonus for its executives
What Breakdown Shows.
The survey of SECS public rec
ord showed this breakdown: One
executive earning in excess of
100000; five getting $500,000I
or more; 13 earning 100000
or more; 81 drawing 100000 or
more; 46 getting $3.50 900 or more
rs earning 100000 or more; 142I
drawing $150,000 or more, and at
least S71 receiving 100000 or
more.
Five industries furnished 81 of
the 76 executives who drew 5000,
900 or more. The steel industry
had 1s, the auto industry II.
Dupont 10; the movie industry and
textiles, six each.
Not all big corporations are
required to file reports with the
SEC. Among the large firms not
filing are: Ford Motor Co., Singer |
Sewing Machine Co., Great At
lantic and Pacific Tea Co., West
ern Electric. Weyerhauser Timber
Co.. and insurance companies
generally.
Companies which mush file re-
ports showing salaries paid top
executives and other financial
data are generally: ID Larger
companies which have sold Sc
curities to the public in the last
IS years; CD companies which
have securities listed on any stock
exchange; CD electric and gas
utility holding companies and
their subsidiaries; and. a. In
vestment companies.