The sun. [volume] (New York [N.Y.]) 1833-1916, 1910-08-27
RAILWAY SECURITIES.
sagEestiea And Pian Tor Their wider
Popular DIFFUSION.
FrO~ 10 Railway Ass GaseE'

Fr0ra 10 Railway Ags Ga.eEs
In every community there are many
people Who feel that u 10 directly 90 their
interests for farming. manufacturing, n" .
TO he carried on probably. while IN few CON
munities are there many who feel that they
have any direct interest in railways being
operated very probably. This l. due TO
the fact that In every community there
are numerous persons Who own farms.
small or large factories and small or tars"
stores Every one Of them IL kesnly allN"
10 the effect that legislation regarding manu-
featuring. bookkeeping or farming would
have on him. and knowing how such legs
lation would affect him lie Is able 20 appre-
Ciate how ~ would AFFECT Others m 'h. same
line OF business on the other hand the
ownership 81 American railways j. con
centrated In the hands 81 persons who's"
number. while absolutely large. - small
compared ~th the number Interested IA
other important lines Of industry. Further
more. most of the owners Of railway s"'iti-
ties live In cities. in the Fast and IA Europe
go on on almost any road In the Central
states. In the South. or IN the West, anu
how many individual owners Of it~ stocks
and bonds will You lind IA the various com
nunities along rs hnes'
There srs railway employees IN every
town and city. Their aggregate number
- larg. but moot oG them ar" ohlINt"u~
to the fact that Il the roads are To runtinu"
to exist. to be successfully operated and
"a be able 10 pay high wages u - '-~'ntial
that they shall be able To earn profits ~
substantial In proportion as those earned
in other businesses Educational work
which ~ now being done among employees
will. no doubt. IN due time cause many 81
them 10 perceive more clearly the extent
to which their interests are identical With
If -
Garner. as such. will never feel anything
like the same keen interest n the amount
Of profits that his employer earns as he does
in the amount OF wages thai has employer
pays him. The result - that we have
public sentiment in mos. of the country
that regards the RAILWAYS a. 4 -ort OF alien
institution which NAV and should be treated
differently from other Industries which
should be given What the strict letter Of me
lsv requires It 20 be allowed but not one
cent more
l. IL open 10 very serious question whether
the time will ever come when The people
will look With a. favorable an eve IN large
profits IN the railwRs business a. they do
on large profits IN other lines 81 industry.
until more 81 the people directly participate
in railway proht- Honest. able. candid
railway management can do much edu-
ca'ional work can do much and disastrous
results MOVING from INV - tFE .llH'I''l 'Hu
do much TO create sentiment more favor
able TO the railways Bot they probably
cannot Do all that - needed Tho omploy""
will become a. much interested N railway
profits a. hS j. in his pay enNelop" "nIN
u hen he he" ONES a ~tO" kholder and -hhr"-
4 ire,ily ia the profits The farmer. ~"
hanEer the esiitnr the oler>. IN the various
communities 81 the country will he ON"
an adVon ate and defender of large rsilvaE
s'p. khoider and knows that the amount 81
his yearly in"oms viii - some extent de-
pend upon hat m" railways earn
u there any wav hy Nhi'h a wider dITu-
sion of the "Wnsr-hip of railNay securities
an no obtained. "" b~licNs there - ~"
nited states steel Corporation and other
industrial cons ems ar" -ur' e--tully 'arrF-
M out proht sharing = hemes WHY ,ouii
not the railways IN some similar way lndu."
nv e-tment IN their se-.uritts- hy their cru-
ployee-. who are the hc-' pad wage "arn"r-
railway therS j. every year more ur lc--
money seeking InN"-tmru' Inc a-r. ..'.
'Iral communities have for some N"sr-
p-sn s-pss Tally prosperous WAT uu-uf- .
nountahls ob-ta' L. would ~" raanar-
IN ountsr n they made e serious "furf fu .
ret the tarmerS the mSr baut-. he mann .
aCtuTers and other business men along
b ROY ided thev were ISSUED m small enough .
denominations To make Investment IN tncm .
~ persons OF moderate fortuns- pra,'i'abIes .
he subject seems 81 uffi'tsnt Impp-tau . .
% Justify serious study and action 10Y ever .
sIlvay management IN tn" country