Evening journal., 1896-12-16

The Iliirois Central Railroad Offers Its
Employees an Opportunity to Buy Its
stock and Acquire an Interest Ia the
Property--Mr. Fi,h Gives His Views.
NEW YORK, Dee. lR-To Stuyvesant
Vlsh OF this city and q, Illinois Central
the great no~si and south trunk
line Of the Mississippi valley, of which he
Is president is due the credit for an ex-
pertinent that may do much toward set
tling labor troubles In the future
That railroad has just put into opera
ton its new scheme for making It's en-
ployees stockholders, and therefore part
owners In the company for which they
work.
1t was for the purpose of turning his
dreams into realities that Mr.. Fish gave
up his palace in Gramercy square and
moved to Chicago. He assumed the active
management oi the road, in which he is
the largest stockhOlder. II was not long
before his advanced ideas were felt
More than 500 employees have already
made application to the officers for stock.
Applications are being received at the rate
of $50 or 800 month They indicate
strong desire on the part Of the working
men to be in harmony with the executive
department
The Illinois Central employs %, 600
men. It is expected that half OF that mum
Der will soon become stockholders. presi-
dent Fish has offered to assist any who
want 10 buy stock az the rate of share
nc time, the buyer paying for the pur-
chase in installments of So. On the
amounts so paid interest is to be credited
at the rate OF si year. When the sum to
the credit Of any one amounts to the figure
at which the stock was bought he receives
a regular certificate for his share. Then
the stoekholder can buy another share on
the same terms if he likes.
President Fish expressed himself to a
reporter about the present suffering and
discomfort in the south and west and ex
planned the reasons for tho great scheme
made public yesterday.
There is still a good deal of discomfort
i'm the south and west - hc said "It is "a
great mistake 10 call those people anarch-
lists The majority are as true and earnest
citizens as can be found i'm any part of the
country. They have q great many things
to contend with which many Of us In the
east do not take into account Tho price
Of corn Is low and that of cotton still low
Pr. Wheat alone shows material advance.
"Of course, WHOM farm products are 50
cheap there must be more or less suffer
ing in the agricultural districts Esre-
eially s. 10 SO whom money commands as
high as II and 10 per cent about Che time
the crops are to be moved. l remember,
rs far back as 1889, how Governor Oglesby
If lninsois suid that agitation hencelorth
would not be so much hetweon people and
the railroads as between the hayos' and
have n0ts
*Wc are confronted today with the COM
munistic and socalistic tendencies which
have long given trouble in Europe. These
make it imperative that we continue our
campaign of education. We have settled
/ the iG to / question, but there are a num-
l Der of other important questions TO be
| passed upon before the present popular
| discomfort is allayed. Instead Of calling
I the people of the south and west fools and
fanatics we would better correct our own
errors.
''These were well described by Mr. Hen
ry Watterson in recent interview as
suddenly acquired riches and vulgar os-
tentation.
"The way to answer this Pcpulistio
clamor is to ascertain the cause Of COM
plants, redress wrongs as far as possible
and show the west and south that their in
terests and ours in the north and east are
identical and inseparable. 1t is within the
/ power of the present congress to take away
/ the cause Of much OF the discomfort and
/ thus open the way for a return TO prosperi-
/ ty. And IL is our duty as citizens TO see
that they perform theirs as legislators.
It is no cheap stock that Mr.. Fish is en-
abling the workmen on his great road to
buy 1t is gilt edged. The company
operates 2.sSs miles of road 1t has a
bonded debt of Ss6 36l, 900, besides $40,
900, 900 in stock, on which it pays an an
nual dividend of per cent. It's credit is
very high. 1t is one Of the few corpora
/ tions in the country at "a per cent. Al
/ the time of the great strike Of 1894 the ],
/ linois Central, although involved, was
not crippled like some os the roads. /.
was quite successful in running trains.
In this city Stuyvesant Fish has been
known more as millionaire of the con
servatiye old Gramercy square sort than @
man Of executive talent or liberal ideas.