The Goodland republic. [volume] (Goodland, Kan.) 1891-1907, 1902-07-04
$4,000 FOR EDUCATION.
Investment in ESQ shares OF Rock Island
stock Brings Fortune in TEen-
ty-Ffre Year

=
fax, Franklin county, Vermont, died. OF
his private life little is known except
that he was a man Of some means. he
left viii BY the provisions Of which
there reverted to the trustees Of same
certain number OF shares Of railroad
stock, which were owned by the deceased
during his life time. OF these shares,
20 we're Of Rock Island stock and were
placed In the hand Of a chosen few Of
his farmer ueighbOrs; 80 we're Of New
York Central stock and were also placed
IN their hands. These shares were to be
kept IN both instances until they reached
valuation Of $4,000. When such
time should come, they were to be sold
and the money used for the endowment
Of some educational Institution IN the
home town Of Judge Bellows
The trustees chosen took the shares in
trust and arranged definite plans for
their management, the same plans sp-
plying to the two sets Of shares. Il was
agreed that all dividends and earnings
Of the shares should be reiDvested in the
company in which the original shares
were. The dividends from the New
York Central shares were to be reinvest-
ed IN New York Central stock, and the
dividends from the Rock Island shares
were to be reinvested in Rock Island
stock. Since the will Of the deceased
went into effect this plan has been car
ried out
The New York Central was at that
time an old and well established road,
while the Rock Island was in its infancy.
With its smooth sailing and world wide
reputation the New York Central has
continued to pay its dividends and has
been sure investment Being an old
road the course Of events has been rather /
quiet as far as its history is concerned,
and the shares left by the Vermont
Judge are still in trust in the hands Of
the Franklin county farmers.
The career OF the Rock Island has been |
very different. Since that time the road |
has changed as much as that Of any
other railroad system In the country. /
The market value Of the Rock Island /
shares has been chaDgeabIe. The road |
was new and had to fight It's way 10 the /
front At times the shares we're worth !
little more than half value. They we're
quoted as low as 90. Then the old Yankee |
Trustees would gather in the dividends !
on hand and invest them in Rock Island |
stock, not a question Of judgment each |
time, but Pre-arranged plan TO be car
ried out regardless Of results At times
the dividends have been enormous-Onee
being 50 great that the shares we're Just
doubled and share issued for share to
pay dividends. Rock Island stock ere
ated but little excitement on the stock
market and Rock Island Affairs were
practically but little noticed for years.
The old farmer trustees continued in
their agreed course. Just five years ago
the Rock Island shares were quoted at a
fraction above 60 and , per cent divi-
iends were paid on the stock. Recently
the same stock was quoted at It's and
better, an advance Of lis points and an
indication that a marked change has
taken place in the financial condition Of
the company.
Such has been the progress OF the
company, such have been the dividens
paid and such has been the increase Of
the valuation Of the stock that recently
the entire Rock Island holdings Of the
trustees have been sold at a figure slight !
y above the $4,000 named in the will
The money from these shares is ready to I
put into an educational institution at
Fairfax, and The New York Central
shares are still held BY the Yankee farm /
ers In the hopes that they will some day
reach a valuation sufficient to permit
selling them and founding the second IN |
stitutiOD. At the present time IL sold, I
the amount realized would only be about
$4,000, thus showing that an invest !
ment 10 q well managed ". stern railway
system far exceeded the gilt edged New
York Central securities
A moral to eastern investors lies in
this Vermont history.
Normal Notes-