The daily Gate City. [volume] (Keokuk, Iowa) 1855-1916, 1910-10-20
THE DAILY GATE CITY
HE PUBLIC REAL
OWNERS OF RAIL ROADS
INVESTMENTS BY INSTITUTIONS
PROBABLY S4,75o, DOC. ooo.
Large Per Cert OF Savings Bank Do
posts Are Invested in Railroad
Securities; 100000 Derive
Support.

The Financial Chronicle" published
last week en- interesting compilation
based on examinations of savings
bank deposits in six representative
States TO indicate the extent OF The
puhlics investment interest IN rail-
roads Roughly speaking. according
10 the conclusions drawn, Sl,fo0,uuu.-
900 represents the aggregate invest
ments of savings institutions, insur-
ance companies and educational In
seitutions al this date.
The compilation is particularly in
teresting al lie present time, when
the question whether the railroads
shall be allowed to increase their
rates as an Offset 10 the advances N
wages that they have been obliged 10
make is under Investigation and sx-
animation by the Government authori-
ties, and so much is 81 stake in the
right determination of the question,
it seems proper to direct attention
anew TO the large interest which the
general mass Of people have, indirect
", in railroad securities. This is 8
feature, says the Chronicle" OF the
case that Is generally lost sight OF by
the unJhinking classes who indulge IN
unreasoning clamor against the rail-
roads OF course. everyone knows
that the railroads give employment 10
large numbers Of persons, and that
therefore this numerous portion Of the
population is directly concerned in the
welfare and prosperity of the roads,
though it may be doubted whether
even in this particular there is full
appreciation Of the magnitude OF the
army 10 which the steam railroads
furnish occupation. On July /, 1907,
the number was 1.672,07 on July l,
1908. after the panic, the number was
l,436,275 AT the present time, after
two years Of expansion and activity in
the railroad industry, rejecting in
this the industrial advance of the
whole country. the number must close
" approach 1000 900 Assuming that
each one of these supports an average
family Of FIVE, we have 100000 peo-
pie who derive their sustenanee and
support directly from the railroads
not TO speak Of those hosts who are
engaged in the manufacture of the
materials and supplies which the rail
roads use in their ordinary daily
operations.
Part Railway Owners.
But the point to which we wish te
give prominence is that there are also
large numbers in no way connected
with the railroad service who are IN
terested as part owners in railroad
properties. AS the ownership is indlr
ect the fact, or its Importance. doe!
not always appear to view. Our lead
/ ing savings institutions, for instance
hold large amounts of railroad bonds
Every little householder, therefore
who has small sum of money on de
post with these institutions has |
| vital interest In seeing that this in
vestment OF the savings institution
in railroad securities shall not be IN
derlnined or ieopardized. If such in
/ vestment should in any way becom'
/ impaired, the depositors in these in
! stituuons-and their number runs in
to the miIlions-would be subjecte,
to the risk of having their littl,
boards put in danger. Fire insuI
ance companies and life Insurance
companies also hold very considerable
amounts of railroad securities. Hence
every holder of a policy in these in
stitutions is concerned more or less il
staying the hand that would impal
the stability and integrity of such in
| vestments.