The Butler weekly times. (Butler, Mo.) 1881-1918, 1914-10-01

the merchant and the banker on tn
entire railroad question, the careful
attention Of the reader is invited to
series Of articles which will appea
in this newspaper during the mex
few weeks. All that is asked is tina
you read with an open mind the fact
and figures presented, which ar
largely taken from the records of tn,
Bureau Of Railway Economics a
Washington, D. C. The rest will b,
cheerfully left to your sense Of wha
is right and fair.
Farmers vitality Concerned.
Especially is it to be hoped thai
farmers whose market facilities ano
land values are so vitality affected by
the railroads will follow these articles
carefully for Agriculture is the Ma
TONS greatest industry and its sue
cess is largely dependent upon ade'
quate and efficient transportation
facilities. In fact, every interest in
the land, whatever its character, is
inseparably interviewer with the rail-
road problem and it therefore de-
serves the sober thought of all think
ing citizens The morning after war
was declared, Congress suddenly
awoke to the fact that we were with.
out a merchant marine in which to
send American wheat and other mer-
chandise across the seas. How much
greater would the calamity have been
had there been a serious breakdown
in our railroads which would have
prevented them from delivering the
farmers products at our ocean ports?
We believe every intelligent citizen
will agree that Agriculture, Com
MERGE, and Industry cannot get along
without the railroads. On the other
hand, the railroads cannot get along
without the patronage-and what is
equally essential, the good will Of the
people. That some of those who have
been entrusted with railroad manage
ment in the past are somewhat re-
sponsible for the apparent gulf be-
tween the public and the transporta-
lion companies is perhaps true. Busy
and harassed by the herculean tasks
entrusted to their care, there has been
TOO little contact between them and
The people. Again, it is undoubtedly
rue that the world of railroad finance
IS we'll as other lines of industrial ac-
ivity has had its share of inexcusable
abuses-but just as the public does
not hold the banking world or the
responsible as a whole for
the shortcomings Of an occasional
black sheep. so the hundreds Of hon.
est railroad officials throughout the
should not be condemned,
because of the misdeeds of the few.
Who Owns the Railroads
In this connection, it may be said
hat the railroad world is encountered
With lot of phantoms which exist
,nly in the popular fancy. For in
stance, because there have been some
,alf dozen so-called railroad magnates
whose names have figured prominent
y in Wall Street, many people have
.ome to believe that the railroads of
he country are largely owned by a
ew rich men. AS a matter of fact,
,othing could be farther from the
ruth. Out of the collosal sum of
wenty billion dollars invested in
American railroad securities less than
i've per cent is now or ever has been
n the hands of these men who have
igured prominently in the newspaper
leadlines-while the other IS per cent
5 in the hands of four million invest
rs, large and small, who in many
instances have put the modest savings
+ a life time into these securities in
rider that they might lay away COM
etency for old age.
When, therefore. the value OF these
is depressed or perchance1
estroyed, the hardship is ten fold
reater upon thousands Of every day
the frugal mechanic in
New England factory, the widow
nth her life insurance funds and the
ountless other citizens in every avo-
alton and walk of life than upon the
andful Of millionaires, good or bad,
rho have figured prominently in rail-
Dad circles. Thus, for instance, the
reat Santa Fe system has over 40
DO stockholders and the same ratio
olds good in nearly all the other
mes. But that isn't all. The hum
l. = . A