The sun., 1919-08-12
RAILROAD poLrrrcs.
The Public Needs and should Demand
Hearing.

To THE EDIroR OF THE suN--Str.
too have been deeply interested in the
discussions and statements In THE SUN
Of Hard Pan" ana 'T. J. H" as to
the all embracing political environment
OF the Interstate Commerce Commission
nc washington. was amazed TO read the
official ngures showing that the COM
mission had cost the people OF the coun-
try s4Ls71.7042o and that its stan OF
employees had swelied from 17s in 1905,
the first year the record OF the number
Of employees Of the commission was
kept, 70 2,2e4 in 1917 and 10 2,213 in
1913. too agree with the statements
10 the effect that the commission, be-
cause OF It's domination by politics and
politicians, has hampered the railroads
In the performance Of their work for
the people and has retarded II not actu-
ally strangled all progressive efforts OF
the railroads. / have known for num-
Der of years Of the railroad labor lobby
in washington. represented by the heads
of the Brotherhood OF Locomotive En-
| gineers. the Brotherhood OF Railway
| Trainmen, the brotherhood Of Firemen
and Enginemen and the Order of Rail.
way Conductors
'T. J. H." In his communication does
not see how the commission 10 to be
wrested from the grasp Of the politi-
clans.
With your permission I'll tell him.
There are about 2,o0o,o00 members OF
| these railroad brotherhoods, while there
are, according to the last official fig-
ures, December 81, 1917, 647.6s9 indi-
vidual holders Of railroad stocks and
about as many bondholders. totallins
about 100000 holders of railroad Sc
curities. But that 10 not all. Approx
mately ST., GOO, 900. 900 in railroad securi-
ties are In the hands Of the public.
Practically all the great life insurance
companies are holders Of railroad Sc
curities, representing their 3o,00o,o 900
manipulated outstanding policies Of In
surance. and there are the savings banks
with their hundreds of millions In
vested IN railroad securities
Henry A. schenck, president of the
Bowery Savings Bank and president OF
the Savings Banks Association OF New
York State, said only short time ago
The total holdings Of railroad bonds,
| I believe. by all Of the mutual savings
banks throughout the country are sbout
$500. 900. 900, which are held for the
bensnt OF about 100000 people, ahd
the point that. would like to bring
| out particularly u that after all the
poor man. the man that has his money
deposited in a savings bank. IL the man
who is. after all. interested in these
railroad companies.
| OF course he does not always realize
that. but nevertheless It is true that
these roads are practically owned fun
| damentaliy not by the stockholders or
BY tho directors but by the bondhold-
ers and q large percentage of bond
| holders IL made up OF the poorer classes
of the people. The average amount in
these various accounts Is only about
$500, and am told that the average
depositor in q savings bank has an
interest amounting to $50 In railroad
| securities.
| The best authorities estimate that
directly or indirectly $4,000, 900 Of our
100000. 900 and more population are in
terested in our railroad properties, and
yet they have been and are under the
thumb Of the politicians who dominate
the Interstate Commerce Commission
and of the railroad labor lobby at wash
ington.
Here Is the answer to ct. ]. HIS
question as to how the whitening and
fatal grasp of the politicians can be
wrenched from the Interstate Com
merce Commission and that body be
supplanted by body far removed from
political control: The representatives OF
the security holders, the savings banks
depositors, the life insurance policy
holders must appear before the proper
committees of the Republican and Demo-
cratic national conventions next year
and forcibly, insistently and persistently
demand that they be treated fairly. Rest
assured the politicians back of the Inter
state Commerce Commission and the
railroad labor lobby leaders themselves
will be there-they will be on the ground,
as they have been in past national con-
| ventions OF the two great parties, morn
ing. noon and night
| On those occasions these men did not
ask recognition at the hands of the
proper committees of the conventions
they demanded It and threatened dire
consequences II It were not accorded.
Just so the savings banks depositors,
tho life insurance policy holders and the
representatives OF the 100000 railroad
security holders must appear before
those committees, and they must not
be mealy mouthed. G. NJ. IT.
| WASHINGTON, d. c., August II.
Failure Of the Theorists IN Dealing
| With the Railroads.