Evening journal. [volume] (Wilmington, Del.) 1888-1932, 1916-12-02
SATURDAY, DECEMBER 2, 1916.
SAVINGS HANKS AND THE NEwLANDs INyEsTI-
CATION

GAIIVN-
N E1.AWARE savings banks and the thousands Of men
~ women and children who have money deposited
therein, have direct and important interest the
movement 10 organize a Railway Investors League TO
the end that investors tho railroads may
hc represented properly before the Newands Congress
Investigating Committee which has begun an in
'estisation Of the railroads Of the United States.
The total value OF the railroad properties in this
country is 100000 100000 They are owned by 100000
investors AS have said before many OF that large
army Of investors reside IN the State Of Delaware
Some have made their investments direct Many others
have had them made for them by savings banks and
other hduciary institutions. II makes no difference
through what channels the investments have been made
the fact remains that such investors all part own
OF that great railroad system.
II IS their duty TO themselves and TO their associates
in other States TO protect these interests against
warranted attack from any quarter. Such protection
only be obtained by organization which has UNDER
lying the fundamental principle that railroad in
have right square deal and that they will
submit TO exploitation spoliaton discrimination
al the hands OF official unofficial agents.
The depositor in savings bank whose savings have
been invested in railroad securities is Of the
Of the railroad that has obtained that money the
strength evidences Of Indebtedness just truly
as is the person who has gone into the market and
purchased securities without the Intervention OF
such Institution. Unfortunately hnwever, there
permit OF injustice TO be committed against their
own properties without protesting. and without
thinking. in many instances that they are their own
properties
1t is high time such persons TO themselves
and to take comparative steps for sefproteoton The
fact that they have deposited their money in bank
and that has invested in railroad securities should
not lessen their lively interest IN any respect It is
their money and the extent 10 which it has been in
vested IL is their railroad
No person Of ordinary dlscernment can scan
the lists OF investments that made by Della
ware savings banks without being struck by the large
amounts OF money that have been invested In railroad
securities most Of them OF gt-edge nature Such IN
vestmenta up into the millions OF dollars Each
dollar represents dollar OF railroad ownership Not
investor in a thousand pauses to think. however
that that dollar Of railroad ownership Is entitled
dollar Of protection from the person who holds It and
dollar Of farpay from the government which such
helps 20 support II Is that thought that the
Railway Investors League is seeking to drive home
into the minds Of investors matter whether they
have made their investments directly have avalled
themselves the vicarous services OF savings bank
or other lduciary institution which makes business
OF receiving and investing money belonging 70 others,
II assist the League in driving that thought home
that have interested ourselves in its welfare the
OF Ct the most far-reachng railroad nvestiga-
lions ever held in this or any other country
When Senator Newlands made up and gave out a list
OF those whom his Joint committee desired to hear he
left out Of account entirely the investors the real
ers OF the properties TO be investigated He did IN
cude Representatives OF railroad executives" but that
is all 1t may be that he thought such representation
before the committee also would suffice for representa-
ton for the 100000 Investors themselves II So that
view not shared by many persons interested In rail-
road investments and In the specific and intelligent rep
resentaton OF those investments distinguished from
but not necessarily unagonistc TO- all railroad
interests It the thought that investors should
have wedehned and intelligent representation that led
John Muir, Lionel sutro 3. c. Forbes and Paul Mack
Whelan, OF New York city: William X. Ewing OF San
Antonio II. T. Winston. OF Washington D. c.; Dr.
c. Mcconnell, OF HOgansburg. n Y; j. A. Pagan OF
Minneapolis Carl W. PIERCE. OF Massillon O.; r. Ed
ward sommers Of St Louis and other men prominent
In the investment field 70 organize the Railway In.
vestors' League and to adopt as their motto.
10 consolidate for protective and beneficial action
that immense power and influence, unused but vested
IN thousands OF unorganized small investors"
Inc organization committee is endeayoring 10
extend its work into all the states to bring about
that consolidation. Delaware investors will do wen :,
cooperate with IT, II seems to that our saving,
bank officials representing as they do so many small
investors should be in the very forefront in the mat
Ter of getting the movement properly organized ant
consolidated in this State There Is too much at stalk
IN the Newlands Investigation for any investor or thu
representative OF any investor TO hold back
All any honest investor desires at the hands OF tina
Congressional investigation committee Is a SQUARE deal
properly organized and differed army OF 100000 IN
FsstoTs representing S20o0e0oo00o Of capital viii b,