Ottumwa tri-weekly courier. [volume] (Ottumwa, Iowa) 1903-1916, 1907-03-21

New York. March 20.-The American
today publishes lengthy interview
with John D. Rockefeller. which it
states was obtained on train while
Rockefeller was enroute from Augusta,
Ca, to Philadelphia In the interview
Rockefeller is quoted as being opposed
to the over capitalization of railroads
and other corporations and as favoring
federal control Of railroads.
The article referred to also appear.
ed in the Chicago Examiner today.
In it Mr.. Rockefeller Is quoted as say
ing: 81
Regarding the stocks which seem
SO alluring to the public, have but a
single observation to make. If a man
goes into the street and finds GER
tain stock that is declining constant
ly, although 1t is paying 6 per cent
dividend, 1t seems strange that he
doesn't step to consider why, If the
i stock Is sucn good proposition, tho
men back of 1t, with plenty of money
at their command, do not keep it in
their control. 1t is reasonable to sup
pose that If in good legitimate way
the stock is actually earning per
cent and will continue to do SO, that
it would be allowed to go out Of the
hands of the controlling interests" {"
Asked if in his opinion the capitali-
zation Of railroads is inflated, he said:
"They are vastly overcapitalized
That is not healthy situation. One
result Of it saw last summer while
was abroad. The American railroads
needed s2OO,oOO,0 900 to carry on some
OF their improvements. They could
not get 1T in this country and they
had to let their notes go abroad at
about six per cent. That interest
must be paid no matter what happens
to the dividends the American public
expects
''Do you believe 1t is sound fnan-
cial plan to overcapitalize?"
II most as s-uredly do not pre-
sumo l should not critise in this re.
spect, for some Of those wno have
done it are friends of mine. I may
probably be called an old fogy for
not agreeing with these new financial
methods"
''If the methods seem unsound to a
man in your position, why are they
followed?"
Always Penalty for Imitation.
''Why, l presume there is a great
deal of temptation to make money
quickly, but personally even if want
ed to work big scheme / do not
think would overcapitalize. The pen
atty is too great.
"What is your idea of the financial
policy of big railroad commission ."
81 am not railroad man, so can.
not say but generally speaking would
like to see the class of citizens who
have tneir money in savings banks
holding the stocks and bonds. l pre-
sumo any socialist would shake hands
with me on that point.
Il think that property should be
capitalized at only their legitimate
value, and if that were done there
would be such a feeling of security in
them among the general public that
we would find men with a little money
holding highly profitable stocks in
stead of allowing it tc remain at small
interests in savings banks. Without
public confidence in our corporations,
of course, that situation can be only
dream.
Likes English Methods Best.
"In England the shareholders have
something to say about how their cor
porations shall run. Any man owning
few shares can always get hearing.
He simply mas to notify the manage
ment that he desires to address it and
he can be sure that he will have an
opportunity to say wha. is on his
mind. Sad to relate, man in the
same relative position in this coun.
try, would not be considered
ttIt would NOT he eood thinp for
us to adopt the English plan as a
whole, think. 1t goes rather too far
and prevents men from rising. Some
thing after their methods which would
give broader opportunities for the
builders and creators and planners
would be more to our American liking.
for, after all, the country owes great
thing to these very men we are so
promo to criticise. Americans want