Cresco plain dealer. (Cresco, Howard County, Iowa) 1913-1945, 1914-12-25

black sheep, so the hundreds of honest
railroad officials throughout the coun.
try should not be condemned because
of the misdeeds of the few.
WHO OWNS THE RAILROADS?
In this connection it may be said
that the railroad world is incumbered
with lot of phantoms which exist
only in the popular fancy. For in
stance, because there have been some
half dozen so. called railroad magnates
whose names have figured prominently
in Wall street, many people have come
TO believe that the railroads of the
country are largely owned by q few
rich men. As matter of fact, moth.
ing could be farther from the truth.
Out of the colossal sum of twenty bill.
lion dollars invested in American rail-
road securities less than per cent is
now. or ever has been, in the hands Of
these men who have figured promi-
nently in the newspaper headlines
while the other IS per cent is in the
hands of nearly two million investors,
large and small, who in many instances
have put the modest savings of life
time into these securities in order that
they might lay away 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 the frugal mechanic in
a New England factory, the widow
With her life insurance funds, and the
countless other citizens in every avo.
cation and walk of life than upon the
of millionaires, good or bad,
who have figured prominently in rail-
road circles. Thus, for instance, the
great Pennsylvania System has over
"a, 600 stockholders, while the Santa
Fe has over 10000. and the same ratio
holds good in nearly all the other lines.
OTHER INTERESTS AFFECTED.
But that isn't all. For many years
bonds were considered the
safest and soundest investment in the
and hence hundreds Of millions
of the assets of our great life insurance
BANKS, benevolent associa.
lions and colleges were invested in
them, and the moment, therefore, that
the soundness of these securities is
affected the financial solidity of these |
myriad institutions 10 greatly menaced
ut the same time.
Carrying it step further, it means |
that every holder Of an old line life |
policy and millions Of deposit |
DID in savings and other banks, and
those interested in many fiduciary.
benevolent and educational institutions
are directly concerned in the present
which threatens to largely
destroy the high regard in which an |
in railroad bonds was held. |
In the impending crisis. therefore.
not merely the fate Of our Transports
ton system il at stake. bat along with
it the very financial integrity Of our
entire investment world and this only
goes to show how vast and overshadoW.
ing our railroad industry has become
how they are not merely the giant |
arteries of agriculture and commerce,
but how closely their welfare is woven |
into the wool and fabric of the entire |
nation. Among other things, it should !
remind US how interdependent We have
come to be in this mighty republic Of
ours-that each is in truth becoming !
more and more his brothers keeper,
and that We need to think and act care
fully lest in our mistaken zeal We des
troy those who. like ourselves. need
whatever of this worl1's goods the toll
and sweat of years has brought to them.
That the time has come when the
citizens of Iowa and the country gener-
ally should do some serious thinking in
with this great and vital
question there is not the slightest
doubt, and hence We appeal to the
pSOHHC W 1S0O VIC AOktuSVulluS OASASlS0
and thoughtfully since
Ill the essential facts and figures quoted |
will be taken from the public records
they will be easily capable of vertical
lion. Especially do We hope that farm.
Gro whose market facilities and land
values are 30 critically affected by the
problem will follow the articles
closely Agriculture and Transport
alton are easily the nations two great
est and most fundamental industries.
[Paid Adv. To be continued next
week.
CAfARRK CANNOT N CURRD
with LOCAL APPLICATIONS. % they
cannot reach the seat Of he disease. Ca
tarrh II . blood or constitutional disease.
and In order to cure 4 you must take h.
ternal remedies. Hairs CataFrh Care =
takes internally, and acts directly On tn
blood and mucous 0uEfocea HAZE ca.