Hermanner Volksblatt. [volume] (Hermann, Mo.) 1875-1928, 1914-10-02

VI I'm
careful attention OF the reader l:
invited to a series of articles which
will appear in this newspaper dur,
ing the next few weeks. All thai
is asked is that you read with ar
open mind the facts and figure:
presented, which n largely taker
from the records of the Bureau 0
Railway Economics at Washing.
ton. D.. c. The rest will be cheer
fully left to your sense of what is
fright and fair.
Farmers vitality Concerned
Especially is it to be hoped that
farmers whose market facilities and
land values are SO vitality affected
by the railroads will follow these
articles carefully, for Agriculture is
tina Nation greatest industry and
its success is largely depended upon
adequate and efficient transporta-
ton facilities. In fact, every in
terest in the land, whatever its char
acter, is inseparably interviewer
with the railroad problem and it
therefore deserves the sober thought
/ OF alltliinking citizens. The morn
ing after war was declared, Con-
gress suddenly awoke TO the fact
that we were without a merchant
marine in which to send American
wheat and other merchandise across
the seas. How much greater would
the calamity have been had there
been a serious breakdown in our
railroads which would have pre-
vented them from deliveringthe far
mers products to Il ocean ports:
We believe every intelligent citi-
zen will agree that Agriculture, Com
merce, and Industry cannot get
along without the railroads. On
the other hand, the railroadscannot
get along without the patronage
and what is equally essential. the
goodwill oithe people. That some
of those who have been entrusted
with railroad management i'll the
past are somewhat responsible for
the apparent gulf between the pub
lie and the transportation co,npa-
mics is perhaps true. Busy and
harassed by the herculean tasks en-
trusted to their care, there has been
too little contact between them and
the people. Again, it is undoubted-
ly true that the world OF railroad
finance as we'll as other lines Of in
dustrial activity has had its share
OF inexcusable abuses but just as
the public does not hold the bank
ing world OF the ministry response
Bile as a whole for the shortcomings
Of an occasional black sheep. so the
hundreds ofhonest railroad officials
throughout the country should not
be condemned because of the mis-
deeds Of the few.
Who Ownes the Railroads.
In this connection, it may be said
that the railroad world is encum-
bered with a lot of phantoms which
excist only in the popular fancy.
For instance, because there have
been some half dozen so-called rail-
road magnates whose names have
figured prominently in Wall Street,
many people have come to believe
that the railroads ofthe country are
largely owned by a few rich men.
As a matter Of fact, nothing could
be farther from the truth. Out of
the colossal sum OF twenty billion
dollars invested in American rail
roads securities less than FIVE per
cent is now or ever has been in the
hands of the men who have figured
prominently in the newspaperhead-
lines-while the other es per cent is
in the hands OF four million inves-
ors, large and small, who in many
instances have put the modest saw
ings OF a life time into these securi-
ties in order that they might lay
away a competency for old age.
When, therefore, The value Of these
securities is depressed or perchance
destroyed, the hardship is ten fold
greater upon thousands Of every
day citizens-upon the frugal me-
chanic in a New England factory,
the widow With her life insurance
and the countless other citi-
in every avocation and walk oil
life than Upon the handful Of millio-
mares, good OF bad, who have
figured prominently in railroad cir
Thus, for instance, the great
Fe system has over 40 1000
stockholders and the same ratiol
good in nearly all the other
But that ISM all. The hun
dreds Of millions of assets OF our
great life insurance companies and
many of Our banking institutions