Atlanta Georgian. [volume] (Atlanta, Ga.) 1912-1939, 1914-01-14
BIG F|NANC|ERS
NOT THE ONLY
CAPITALISTS
Every Small Investor Is Entitled
to Have Equal Say in Control
Of Corporations.
BY 3. c. FORBES.
Who are the capitalists of Amer

by D. ~ TSFSESs
Who are the capitalists of Amer
Tea?
Ask any financ1er, any banker, any
corporation manager. He will tell
you.
THE real capitalists" he will ex-
plain, ARE not handful Of Wall
street millionaires, not few men
Of conspicuous wealth. Capitalists
include all investors. The widows
and orphans whose DAILY bread comes
from the dividends on a small lot of
shares or a few bonds are as truly
capitalists as John d. Rockefeller,
Andrew Carnegie, J. p Morgan n
George F. Baker. The workman who
has exercised frugality and has built
up, dollar by dollar, little bank
account, is also a capitalist.
Therefore, when the politicians
propose to do anything injurious to
capital they hurt not only limited
number Of rich men, but every small
stockholder aid bondholder in the
country. They hurt, also, labor.
They hurt, too. every savings bank
depositor, every holder or benefi-
ciary of an insurance policy. In
short, they hurt everybody"
Thus we learn that the capitalists
embrace the widows and orphans,
the small investor, savings bank
and other depositors, etc. We like
wise learn that 'a.or is vitality af-
fected by the treatment melted out
to corporations.
Now, why should not ALL capital
lists be entitled to reasonable repre-
sentation on boards of directors of
all huge corporations run on money
supplied by them?
And why not have labor repre-
scented, seeing it's interests are so
vitality involved?
Capital is not a narrow circle.
Capital" embraces every rank and
condition, we have just had eX-
planned to us. Therefore, give "capi-
tai" representation. on directorates.
When enterprises were conceived,
organized and largely financed BY
individuals or little grour" of men
it was fitting that the individuals or
the little groups should manage
their own affairs.
Now that the millions instead Of
the millionaires supply the capital,
are not the milliors entitled to a
share in the control Of their own
companies?
Financiers can not in one breath
plead that capital" is composed Of
several Million Of small vestors,
virtually the public at large, and in
the next breath claim that "capI-
tai" when it comes to directorships,
is only composed of favored few.
| find even the ablest OF our f1nan
ciers and capitalists prone to talk
of capital as if THEY and the few
of their kind we capital" This
when any suggestion is made that
directorates should be so widened
as to include representatives Of the
millions of small investors, or, IN
other words, a large section of the
public.
Gentlemen of IONS, bankers,
directors, YOU are no longer ga vi
tall Were the Jublic to withdraw
their funds, what would happen to
The corporations over which you
claim exclusive right to preside?
We have shown that there were
approximately 100000 stockholders
in $50 corporations having a total
capitalization of $12,250, 900, 900, and
figured that the country's S6,0O0.-
100000 corporate stocks and bonds
are owned by from 100000 to 5000, :
600 investors. All these represent
capital" Why shut them out from
representation? Why indulge in the
subterfuge of treating capital" as
an exclusive guild>in the matter of
directing corporations. but as part
and parcel of the W ole body of the
people when legislation Is, proposed?
The T susury has computed thai
the income tax will be paid thus: