BIG CORPORATION SALARIES HELP EXPLAIN LOW WAGES
Big Corpartion Salaries Help Explain Low Wages •piE High Cost of Corpora¦ - tions. one of the biggest elements of the well known high cost of liythg, is partly explained by the list of...
...Squire, Sanders and Dempsey, special counsel, $52,500, and I North American Co., "fiscal and, other services," $49,760...
...Even the ex pensiveness of tea is partly explained by the fact that at...
...The chairman of the board last year got $112,500...
...Standnrd Oil of New Jersey tops that, though its president gets only $185,000 a year...
...Thus, the Cleveland Eletric Iilu- | ruinating Co...
...in this corporation is $1,247,186...
...and the fin plate industry in this country is protected by a tariff of 1 cent a pound— which is a tax en every housewife in the land...
...ex perts, the pension system, app' > ing to employees at the age of after 20 years' service, is ba-^d on the average earnings of t he last 10 years of service...
...It was pointed out that employees' wages seldom rose above 92.000 after ten "years of serVice ediile exee-jtives/ salaries continued risiag daraatjfl years of service, at wkidi mM they became more or has Ifflj Cases cited tnrmiiii that fjfl an executive tarvssg If yaml pension of $599 a "lstk *\f|j» a caretaker seitiag K jaw ¦ and five months reeetvei nfffl a month pratisa...
...Mcj Fas* for "SOTigas" And matches...
...Another revealing thing in these lists is the amount paid for ''legal services" and "supervision," "management" and "fiscal" services...
...As president of the Deleware and Hudson he gets $90,000, and as chairman of the board of the K. C. Southern he receives $45,000...
...pays its president' $36,000 end its vice-president $18,000, while Sullivan and Cromwell, special counsel, drew $55,- j 417...
...comes to $1,579,470...
...E. E» Crawford, president of the McKeesport Tin Plate corporation, drew $225,417 last year as salary, and, for fear that he eonldnt live in fitting splendor en such a earn, the company gave Mas a bonne of 9M£W...
...nor the high cost of ginger ale, when we find that the president of the Anchor Cap corporation got $55,88$ last year, and the proxy of the Crown Cork and Seal Co...
...paid W. A. Fairburn, president, $100,000, and two vicepresidents $20,000 and $25,000, respectively...
...is now eligible taafl after 31 years' service on a ajpfl pension of over $60,006 i Jt9 Each year that Gilford rensssifl president he adds XIJMS m afl yearly income coming tt aaa eajB retiremer' That u e beneficent sasiafl grame --vecutive* wu 4 San cone • t the company a asafl by i - eport of tmr enaaffaatajH rev:4...
...One former executive now receives a $4,624 monthly pension, two pensions are in excess of $2,044 a month and two in excess of $1,990 a month...
...That under the workings of the pension system, executive...
...After SI rami ager received a senates af ffesfl while a janitor after $J matt and one mouth got $9>a aaafl It was also brought" tat Walter S Gilford, prraafilofH A. T. A T...
...And, of course, the company took it out of the consumer, with extras...
...who comprise .7 per cent of the total number x>f pensioners received 8.5 per cent of the total amount spent for pensions...
...rtments dad a asj rera»w ¦¦* allowances af .Sam -ioant5 is nhaost certait 9)J egarded with suspicion, ft asa| h« difncjiTt for an employer e>49 Tensive in justifying tb» IpB iste expenses of the boshsSrm ex glair satisfactorily paaddfafB ibfi mil*, and ft is scaroay >1 debated that the existence d »J densso is rouW b* M*massittS...
...Eighteen directors got away with $155,790, and 18 unspecified officials collected $555,070...
...Over the tea cups...
...draws down $187,000 in salary and 140,000 bonus...
...Yon bet...
...one of the biggest elements of the well known high cost of liythg, is partly explained by the list of corporation salaries given out by the S.E.C...
...The total "overhead" charges of the company through salaries listed by the S.E.C...
...Neither is the high cent of ribbons a mystery when one 'reads that the Century Ribbon Mill, Ine, paid its president last year $55,190...
...pension system athe Federal Communications Commission continued its investigation...
...got $50,148...
...Other Executives Highly Paid The McKeesport concern dopant oatfuits high salaries with the president...
...of S°2 and S.V> tor' all other employees was revealed as one of the key features .-.f the American Telephone and Teegraph Co...
...H. Karker drew $105,847 last year in salary and $56,597 for bonuB-^$161,444 in all...
...Thaf wakes $815,411' to one man...
...All told, the too officials of McKeesport Tin Plate set the company back last year to the tune of $1,087,684...
...Leonor F. Loree, prize.labor baiter of the railroad world, is drawing $135,000 a year from two railroads...
...Other features of the pension system of the "benevolent business giant" discussed were: That although 1,270,000 employees had resigned, been discharged or laid off by the company from 1080 to 1934, only 5,588 (or .44 per cent) had been added to pension rolls...
...The Diamond Match Co...
...That, however, is by no means the highest salary in the list...
...The secretary and the plant superintendent got $85,383 each, end two unspecified employees cheeked* Out with $07,417...
...losses' Salaries Up As explained by the FCC...
...A. T. & T. President to Get Monthly Pension of $2,000 WASHINGTON...
...The total cost of the higher-ups listed by the S.E.C...
...D. C. — Average monthly pensions of S903 for former executives and average monthlv pension...
...The two vice-presidents got a little over $00,000 each...
...if pension arrsmemnfl Ta» '< port, in part, tSai^^B the -eraire person a 'mnsiayM Se.MJ a month is se far b) <¦»¦ a»e res...
...Also, Standard Brands paid out $166,861 to divers and sundry law firms...
...G. V. Parkins, ricepnafihnit...
...903 a month' while 2.594 employees averaged $92 a mouth and 2409 averaged $36 per month in pension payment...
...The high cost of gasoline is a mystery no longer...
...Jen directors of the company appropriated $383,867...
...Standard Brands, an adjunct of the House of Morgan, paid Joseph Wilshire, president, $152,090...
...Big Corpartion Salaries Help Explain Low Wages •piE High Cost of Corpora¦ - tions...
...two vice-presidents $90,838 each, and 12 directors—count 'em, 18—received $774,219...
Vol. 19 • July 1936 • No. 67
