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Editorial
February 27, 1923
The Alaska Daily Empire
Juneau, Alaska
What is this article about?
An editorial questions Arthur Brisbane's defense of high salaries for Standard Oil executives like Alfred C. Bedford and Walter C. Teagle, suggesting his own large salary biases his view, while noting senators' surprise at such pay in the oil industry.
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WE WONDER!
It is not often that we find perfect agreement between Arthur Brisbane and the financial papers of New York and Boston. When we do we wonder.
The Boston News Bureau and the Wall Street Journal have recently contained editorials telling why men at the head of gigantic institutions earn the large salaries that are paid to them. It is contended that by wise management they save their shareholders much more than they are paid, and they make their institutions so useful to the public that it, too, is more than repaid. Very well and probably true. However, we would expect that argument from the sources when it comes.
But here comes Arthur Brisbane, who writes more or less radical dope for the more or less radical Hearst papers, saying:
Senators are shocked to learn that Alfred C. Bedford and Walter C. Teagle, presidents of two of the Standard Oil Companies, are paid $125,000 each per year. That is not much for men who can handle business running into hundreds of millions. Five minutes of intelligent thinking in any one department would soon make a difference of $125,000 three times over. It is to be hoped that Rockefellers allow them an opportunity to make a little "something on the side."
And we wonder. We wonder if the circumstance that Mr. Brisbane draws a salary that is probably larger than that of any railroad President or bank President in the country, larger by 20 per cent. than the Standard Oil Presidents referred to, had any bearing on his conclusion!
$100,000 a Year Common in Oil Industry.
United States Senators, who have to struggle along on $7,500 a year, were just tickled pink when they learned, during a subcommittee investigation of the oil industry, that Mr. Rockefeller pays his hired men fairly well, with many drawing between $50,000 and $125,000 a year. In the latter class are Alfred C. Bedford, of the Standard Oil Company of New Jersey, and Walter C. Teagle, Chairman of the Board of the same concern. But Arthur Brisbane editorially "hopes the Rockefellers allow them an opportunity to make a little something 'on the side.'"
It is not often that we find perfect agreement between Arthur Brisbane and the financial papers of New York and Boston. When we do we wonder.
The Boston News Bureau and the Wall Street Journal have recently contained editorials telling why men at the head of gigantic institutions earn the large salaries that are paid to them. It is contended that by wise management they save their shareholders much more than they are paid, and they make their institutions so useful to the public that it, too, is more than repaid. Very well and probably true. However, we would expect that argument from the sources when it comes.
But here comes Arthur Brisbane, who writes more or less radical dope for the more or less radical Hearst papers, saying:
Senators are shocked to learn that Alfred C. Bedford and Walter C. Teagle, presidents of two of the Standard Oil Companies, are paid $125,000 each per year. That is not much for men who can handle business running into hundreds of millions. Five minutes of intelligent thinking in any one department would soon make a difference of $125,000 three times over. It is to be hoped that Rockefellers allow them an opportunity to make a little "something on the side."
And we wonder. We wonder if the circumstance that Mr. Brisbane draws a salary that is probably larger than that of any railroad President or bank President in the country, larger by 20 per cent. than the Standard Oil Presidents referred to, had any bearing on his conclusion!
$100,000 a Year Common in Oil Industry.
United States Senators, who have to struggle along on $7,500 a year, were just tickled pink when they learned, during a subcommittee investigation of the oil industry, that Mr. Rockefeller pays his hired men fairly well, with many drawing between $50,000 and $125,000 a year. In the latter class are Alfred C. Bedford, of the Standard Oil Company of New Jersey, and Walter C. Teagle, Chairman of the Board of the same concern. But Arthur Brisbane editorially "hopes the Rockefellers allow them an opportunity to make a little something 'on the side.'"
What sub-type of article is it?
Economic Policy
Satire
What keywords are associated?
Executive Salaries
Oil Industry
Standard Oil
Arthur Brisbane
Senate Investigation
What entities or persons were involved?
Arthur Brisbane
Alfred C. Bedford
Walter C. Teagle
Rockefellers
United States Senators
Editorial Details
Primary Topic
High Executive Salaries In The Oil Industry
Stance / Tone
Ironic Defense Of High Salaries With Critique Of Bias
Key Figures
Arthur Brisbane
Alfred C. Bedford
Walter C. Teagle
Rockefellers
United States Senators
Key Arguments
Wise Management By Executives Saves Shareholders More Than Their Salaries Cost.
High Salaries Are Justified For Handling Large Businesses.
Brisbane's Defense May Be Influenced By His Own Higher Salary.
Senators Are Surprised By Oil Industry Pay Levels During Investigation.
Many Oil Executives Earn $50,000 To $125,000 Annually.