Mansfield mirror. (Mansfield, Wright County, Mo.) 1908-1957, 1918-01-24

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who have money invested in then
or they will be owned by the Cover,
nent. Regardless OF what 1t would d
to railroad efficiency. believe tina
Government ownership would be Al
unfortunate thing for the general we
fare Of the United, States, because q
the immense army Of Office holde.
which would then be a part Of tn,
organized political machinery.
we are still. a considerable dis
lance from Government ownership
but we are in a period when 1t Is In
portant that we prepare in advanc'
for situations which are clearly d.
veloping. 1t is conceded that the ia
sic problem of all problems is the rail
road credit problem.
u%neasiness Of Average investor.
The restriction Of the possibilil i,
of return on money invested In rail
roads has induced many w%ell-inforT
people OF wealth to divert their mon
into industrial and mercantile tiol :
1t is the small investors, a large It:
centage women, who have been | c
steady buyers OF railroad securities in
the past ten years. l am in constaa,
contact with these people. l know
their aims, purposes and ambitious.
Every day letters come to me from
u~nfortunates who have put money inc
st. Paul Preferred, Northern Pacific
Great Northern or other roads, tic
management Of which has apparently
been above reproach. Yet there has
been q shrinkage in the money ia
yested-frequently as much as 30, Al
or 500.
1.-The type Of American l have In
Mid put his money into a standard
railroad Issue with the feeling thai
he was entrusting 1t to something rs
safe as a savings bank. He had cor.
fidenee In his country and confidence
In his company.
What is his present attitude?
ut is one of ill.concealed uneasiness.
Delayed action Is not understood.
How have l made this great mistake
1e asks. I could not foresee that q
parental government, which asks NE
TO subscribe to Liberty bonds to save
the country. would withhold a just
recompense for service without which
my investment Is nearly worthless
These same small investors also
reason the matter In this manner:
Fifteen months ago we saw the
brotherhoods go to Washington ana
demand an immediate and enlarged
pay. They got it almost instantly.
Why should not the power which
raised wages direct the proper tlibu-
nal to raise rates? We see clearly the
railroad executives have no>power to
get advanced rates, but we do see
that brotherhoods have power
to demand and get increased wages.
They are even now about to demani
a second increase. Therefore, WHY
should not we, the investors, 100000
of US, the real owners. who embody
the great force that lies latent in us,
why should not we adopt similar sue.
methods to obtain tnat 10
which we are entitled?
THE Railway Investors League rep
resents $4,000 investors in railroad Sc.
curities. Most of them are small in
vestors. The number OF large inves
ors is small. 1t is for the small in
I make my plea and in cor
bination they speak with a might
Railway Credit and the War.
1T probably has occurred to other
than myself that til re is a lesson To-
those VINO would cove the dificul;ie
Of railway credit b the, way in whic!
our government has mad to solve til
problem of financing the war.
If anybody had said a year ago THAI
at this time there would be more tina
l2.OO 900 bond holders in the Unite |
every statistician on the sui
ject would have advocated having HIN
for lunacy.
"But In six months we have jumped
from less than half million to over
l2,000,0 900 bond holders. This larga
number Of bond holders was secure i
from millions OF small investors who
subscribed and paid for the bonds
Upon easy payments out of their cur.
rent savings.
IF, therefore. there is mapped out
! broad platform Of policy which will
cause a large proportion O.
our millions of small investors to SUI
scribe and pay for the railroad bonds
,ut Of current savings, there will be
brought to the aid"of the railroads net
lew flotations and new debts wit
which the roads are now burdened, but
lew capital and new owners and part
lers, a combination which will injec
new financial vlgor now 80 sorely
leeded.
Government ownership then in re,
!lity will be an ownership by the great
majority Of thrifty Americans as in-.i.
tidual investors.
For the past 10 years the sma1
INVESTORS have shown their increasins
willingness. ability and preference for
Investment in the country's transports
Ior systems until halted by the pligh'
nto which they see their properti'
by q delay which no other en.
In this country has had to en-.
%ounter."'
Gear Wheels Made Of Cotton.
Gears are now being made Of or