E.R. Kenzel, deputy governor, entered the bank at a yearly salary of
$4,200 and now receives a yearly salary of $22,000, or an increase of
423 per cent.
A.W. Gilbart, controller of administrations, entered the bank at a
yearly salary of $2,400 and now receives a yearly salary of $12,500, or
an increase of 420 per cent.
L.R. Rounds, controller of accounts, entered the bank at a yearly
salary of $2,400 and now receives a salary of $12,500, an increase of
420 per cent.
Chas. H. Coe, manager of the check department, entered the bank at a
yearly salary of $1,500 and now receives a yearly salary of $7,200, an
increase of 380 per cent.
W.B. Matteson entered the bank at a yearly salary of $2,400 and now
receives $10,000, an increase of 316 per cent.
J.D. Higgins, controller of cash, entered the bank at a yearly salary
of $3,000 and now receives a yearly salary of $12,000, an increase of
300 per cent.
S.S. Vansant, manager discount department, entered the bank at a
yearly salary of $1,500 and now receives a yearly salary of $5,000, an
increase of 233 per cent.
R.M. Gidney, controller at large, entered the bank at a yearly salary
of $4,000 and now receives a yearly salary of $15,000, or an increase
of 275 per cent.
I.W. Waters, manager personal service department, entered the bank at a
yearly salary of $2,250 and now receives a yearly salary of $7,200, or
an increase of 220 per cent.
James Rice, manager government bond department, entered the bank at a
yearly salary of $1,800 and now receives a yearly salary of $5,500, or
an increase of 205 per cent.
L.H. Hendricks entered the bank on a yearly salary of $6,000 and now
receives a yearly salary of $18,000, or an increase of 200 per cent.
Incidentally Benjamin Strong, the governor of the New York Federal
Reserve Bank, has had his salary increased from $30,000 per year to
$50,000 per year--more than six times the pay of a United States
Senator!
Ask any corporate manager, any practical banker, or any efficiency
expert if they permit, or if they know of any such stupendous salary
increases--increased and maintained in a time of general disaster and
enforced economies. If this isn't strutting bureaucracy running amuck
with public money, what is it?
Public-domain text, read in full here on John Shaqi.
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