The Topeka state journal. [volume] (Topeka, Kansas) 1892-1980, 1914-12-03
American Lines Owned by
q Million Stockholders.
LARGE PER CENT ARE WOMEN
Millions of People Unconscious
" Have Interests at Heart.
Other Items of General Interest
i'm the Traffic World.
(By B. c.. FOrbes.)

(By b. u. FOrDeS.J
| New York, Dec. 3.-WhO are the real
owners of Americas railroads?
Let me try to answer that question:
as promised in a previous article, An
A B C of Americas Railroads., wh1cn
gave full data on the number OF work.
amount spent directly in wages, the
sums spent for materials, for taxes, for
dividends, etc.
The railroads of the United States
are not owned by the Rockefellers. the
Morgans, the Bakers, the Stilimans, the
Schiffs, the Carnegies, the Goulds, the
Speyers, the Vanderbilts, the Hills, the
Harrimans.
When the government, the interstate
commerce commission, state public
service commissions, state legislatures
or the public injure the railroads they
hurt these lti-milliOnaires much less
than they hurt you.
You are probably part owner OF the
country's railroad system.
You may be drawing profits from
railroading without knowing it.
Or you may be deriving other benefits
from railroad securities through chan
nelS you never suspected.
Let US first deal with direct owners
of railroad securities.
What have the railroads Of the
United States cost to create?
About twenty billion-the interstate
to June, 1906, was $14,570, 421, 478.
Who have supplied this vast amount
Of capital?
Millions of home and foreign invest
ors, millions of citizens who have paid
premiums to insurance companies, mil
lions Of depositors in savings banks.
millions of persons having accounts in
banks. trust companies and other in
institutions.
How many stockholders are there in
American railroads today?
Complete official returns are not OBJ
tainable but for many years l have
compiled figures supplied me by the
principal railroads. Last year rs roads,
with a stock capitalization of $685.
652, GIG, reported 477,458 stockholders. On
this basis a grand total Of $780, 900
stockholders exclusive entirely Of
bondholders) would seem to be a rea-
sonable estimate.
Is the average number Of shares
owned very large?
No; the average is lis shares.
Are many persons of modest means
| holders Of railroad shares?
Yes, and the number is constantly
| increasing. The Pennsylvania railroad
alone has 10000 stockholders owning
less than ten shares each. All directors
and employees combined own less than
one-twentieth of the company's stock.
Are nearly all stockholders men?
No-emphatically no. The Pennsyl-
vania has nearly $4,000 women stock
holders: almost half the New Ravens
%, 500 stockholders are women. and
other large companies carry thousands
of women on their list Of stockholders.
A substantial per cent of these women
are widows, dependent upon the income
for their own and their children's liv-
ing.
How many stockholders are there in
our leading railroads?
lat ~Rf i'll
supplied me by the head Of each COM
pany less than year ago:
Number of
Name Of Road Stockholders.
Pennsylvania .......................9O $4,000
Canadian Pacific. $1,000
Santa Fe......................... 5000
Union Pacific. Observation-Disclosures. 1900
New York Central. .25 0C0
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