New-York tribune. [volume] (New York [N.Y.]) 1866-1924, 1916-09-16
A LETTER TO MR.. FORD
The Railway Executives Take Issue with
Some of His Statements.

Sir: | am inclosng to you copy of an
open letter addressed to Mr.. Henry Ford, in
response to published interview recently
given out by him. I am submitting this let
ter to you for publication, if you so desire,
because Of the inaccuracies in Mr.. Fords
interview, which have not been contradicted
elsewhere. FRANK TRUMBULL.
Chairman Railway Executives Advisory Com
mittee
New York, Sept. IA, 1916.
Sir: Ny attention has been called to a
published interview with you, under date of
September 2, in regard TO the recent railroad
wage controversy. and as it has not been con-
tradicted I am making this answer public.
Your conspicuous position gives you wide
audience, and erroneous statements published
in your name are therefore all the more
dangerous and harmful, and should not go
unchallenged.
You say that "the real power back of them
the railroads is located in and around Wall
Street" This is an inaccurate and thread
bare generalization, frequently heard and
quickly disproven by the facts.
The real owners Of our railroads are some
COZ $50 individual stockholders, excluding
railway corporations and duplicate holdings.
When allowance is made for the fact that
some of these individual holders are brokers,
holding in one name for several different
owners, and that trustees or executors SINH
larly hold for numerous others, it can be
readily seen that the total aforementioned is
an understatement.
Moreover. IL we add TO the aggregate Of
stockholders all those who virtually own rail
road bonds. insurance policyholders and saw
ngs bank depostors, Of whom there are 30
600, 900 of the former and II 100000 of the
latter class, whose premiums and deposits,
jointly, are secured by an aggregate owner
ship of railroad bonds totalling 100000
600, it is apparent that the ownership Of
Americas railroads is not only widely but
democratically difused, instead of being con-
centrated in the hands of a few individuals
in wall Street"
Broadly speaking, the bankers are simply
mddlemen, who buy railroad securities and
sell them to the public. You refer to the
railroad presidents as messenger boys for
Wall Street" | think you cannot cite a
single instance of direction, either oral or
written, from any Wall Street banker to any
railroad president in connection with the dis
cusson of the so-caled eight-hour movement
in the last few months; but if you can, VIII
you do so?
You say: "The railroads evidently are de-
termined TO get from the American public
still greater share of their earnings through
freight rates, and that is what they are play
ing for" If you believe and can prove this
statement you owe duty to yourself and to
the nation 10 come forward with your proofs
Immediately. But since you use the word
"evidently." apprehend you will not attempt
to substantiate what you must realize is not
true, and which is calculated to work both in
jury aned injustice to the railroads.
The railroads were not playing a game
The wage question was not of their seeking
They did nothing either to nstigate or pre-
cipitate il. They were, on the other hand,
unwillingly and irresistibly compelled to join
issue with the employees in an endeavor TO
maintain right and justice. They took de-
termined stand for democracy and its essen
tial principles against class government and
the rule of might and their attitude has been
approved very generally by press and public.
Men of intelligence, certainly. see in their
conduct fitting sense of the obligation Of
trusteeship reposing in them for their own
ers, their other employees and for the public
At large, and a conscientious adherence to
principle.
You further say:
"If the roads were run more to serve the
public. run more by the men who really have
to operate them, run as railroad properties
and not as mere instruments OF financial Jug
Cling we could have lower rates. better SER
vice. higher wages. and still leave profit for
every dollar legitimately invested. The roads
could make double the profits at present rate
Of fares and pay all increases OF wages de-
manded"
In using the word "roads" ! assume you
mean all OF the roads of the country, but per
haps you will list tho roads which are now
being used "as mere instruments OF financial