Rock Island daily Argus. (Rock Island, Ill.) 1886-1893, 1890-07-09
A NEW SOLUTION
Of the Strike Problem on Rail.
way Lines.
A PLAN OF THE ILLINOIS CENTRAL.

President Fish Proposes to Make the EN-
j, ployes Stockholders I'm the Road-A
Scheme That Seems To He q Good Thing
for the Men, who Are Asked to Take
NO Risk of Falling Prices - Foreign
HoIdings of Central Securities.
CHICAGO, July "a rumor that the II
linois Central was proposing to take new
departure in the process Of solving the
railway labor problem took a reporter to
President Fish, of that road, yesterday.
Mr.. Fish said there was something in the
rumor, and continued: with view of
extending to every person in the service
an equal opportunity of sharing in the
prosperity of the corporation, and, by
mutual co operation, increasing both the
efficiency of the service rendered to the
public and the profits of the proprietors,
we have had under consideration the adop-
ton of plan somewhat as follows: The
company has no stock for sale, but it pro-
poses to assist any of its officers or en-
ployes to buy one share at time at the fair
market price, to be fixed when the pur-
chase is made, the purchaser to pay for his
shares in sums of IS or multiples thereof
The Company Takes All the Risk.
"On the sums so paid interest is to be
credited at the rate of per cent, and
when the sum at the credit of any pur-
chaser amounts to the sum at which the
stock was bought he shall receive a certi-
f1cate for his share of stock, and can then,
If he wishes, begin the purchase of another
share. The purchaser may, however at
q time haya his onf laH
his money returned to him with interest.
and shall so receive it whenever he leaves
the service. Thus the company assumes
the entire risk of fall in the price of the
shares and the expense of doing the
work
An Encouragement for Thrift.
1T is hoped to enlist every frugal per
son in any way connected with the cor
poration as a partner on basis of the ut
most liberality to the small proprietors 1t
Is not proposed to form a savings bank, a
mutual benevolent or a life association,
the experience of the company being that
the men prefer to handle these matters
for themselves. My belief is that the plan,
whom properly presented, will induce
greater thrift among the men, and,
through their example, spread among the
people the habit of saving and of invest
ing in the securities of the railroad which
runs past their doors, and in which the
state OF Illinois already has so large a
proprietary interest.
Some Central History.
when the Illinois Central railroad was
built 1t was necessary to go abroad to Sc
cure the requisite capital. The venture
proving successful, it came about that
when entered the company's service in
1871, something like four-fifths of the then
capital stock (s25, 500 600 was owned
abroad, not over Is 00o, 600, all told, being
held in this country. Nearly all of the bonds
then outstanding were also owned in Great
Britain and in Holland. Finding that the
corporation was regarded as an alien and
suffered thereby, 1t has been my aim for
many years past to induce small investors
in this country to buy and hold the shares.
Increase of American Holders.
To-day there are eight times as many
stockholders In the United States as there
were twenty years ago. and while a ma
jority of the stock Is still held In Europe.
nearly 10 per cent. of the present capital of
go, 0c0. 600, to wit: SIC, 900 900, is owned in
the United States, and the number of
American stockholders is equal to, if it
does not exceed, the English The ulti-
mate object Is to produce in the west that
community of interest between the citi-
Gems and the railways which has given to
Great Britain and to the eastern states the
perfection of railway service and the most
profitable of investments for small pro-
prietors-sound dividend paying railway
| shares"