Weekly journal-miner., 1917-12-05
LOCAL BANKER
 IS GIVEN AN
 APPOINTMENT
R. N. BRICKS, PUT ON ADVISORY COMMIT TEE OF NATIONAL AS ISOLATION OWNERS OF RAILROAD SECURITIES.

Nf11LNSf1D SIS V M ! l GS.
 BALTIMORE, Now X-Through the appointment of K. N. Fredericks, of Prescott, president of the Prescott
 State Bank, as member of the ad
 visory committee of the National As sociation of Owners of Railroad Se- curities, announcement of which has just been made by President s. Dav- ies Warheld, Arizona investors be- come prominently identified with . movement of national importance re- gently launched to protect the credit of the Arizona railroads by stab;liz- ing the securities of these companies.
 The advisory committee is inc con- trolling body of the association and the selection of Mir Fredericks to head the movement in Arizona is in dicative of the prominence of those identified with the organization, throughout the country, its officers and supporters including many of the leading linanciers and business men of the nation. Thousands of individ
 ual members have enrolled in the movement and many others here and abroad, who, while having no invest ment in transportation companies ia vor fair treatment of the carriers, have also become members. The as sociation, organized in Baltimore sev-I eral months ago through the initiative of Mir Warheld, who is president of the Continental Trust Company, and one of the leading financicrs of the South, fills long-felt need for an authoritative organization to speax for the owners of the railroads in matters relating to their public af fairs.
 This has been undertaken vigorous ly through campaign to protect the interests of large and small investors in railroad stocks and bonds. It's representatives have appeared before the interstate commerce commission and at other public gatherings to pre- sent the case of those whose savings and other funds have undergone such a tremendous shrinkage as a result of the recent general decline in security values. The associations activities include comprehensive campaign of education to create an interest on the part of investors in the affairs of their companies and the solution of prob- lems confronting thcm It is also planned to inform the public of the widespread distribution of railroad securities and their vital relation to the economic life of the people. .I
 A recent computation by President Wartield shows the direct and indirect ownership of the railroads to be vest cd in fifty million people. nearly one half of our population, as follows: In- dividuals outright, 100000. owning SIG, 0,000, 100000 worth; life insurance policies in force, held by 33,OO0,00G | persons, representing total of Sl,- 550.0O0.OO0; savings banks, with lO.- OOO.OO0 depositors, representing S847, i 100000; fire and marine. casualty and other insurance companies, represent ! ing total of S649, 100000; benevo. lent associations, colleges, charitable | institutions, S35O,OOO.OOO, and trus, state and national banks SS65 100000.
 Darwin P. Kingsley, president of the New York Life Insurance Com pany and a member Of the advisory committee, when appearing before the interstate commerce commission on behalf of the association, stated that g per cent of the protection afforded by life insurance policies is secured by investments.
 The National Association of Own FITS of Railroad Securities has received the endorsement of the American. Bankers Association. Following an address by President Warfield before the trust company section of the bankers convention at Atlantic City, l resolution was adopted recommend ng that financial institutions become members for the protection afforded md in order to support the efforts to safeguard investments.
 Another important announcement shortly is the appointment of general committee, also with in each State This com- nittee will include largely in its per 'onnel businessmen and shippers.