The Taney County republican., 1920-04-22
MILLIONS IN u. S.
OWN RAILROADS
Wage Farmers Directly and In
directly Affected by Roads
SolVency.
DIVISION OF SECURITIES.
Mutual Savings Banks Owned Entire.
Iy by Dsposltors Hold Large
Amount Of Railway
Bonds.

Millions Of thrifty Americans who
have laid aside something for q "ralny
day" are directly or indirectly owners
of railroad securities. This ownership
represents not only individual invest.
ment In the railroads, but holdings OF
railroad securities by life insurance
companies, savings banks, fire and ina.
rinc insurance companies, benevolent
associations, educational institutions.
trust companies and State and Nation.
al banks. A large part Of the assets
Of these institutions depend on the sol.
vency Of the railroads.
Tho ownership Of railroad securities
among these people Is divided approx.
lmately MS follows:
Individuals. numbering over
100000. own outright about So.
000,00o,0O0 In railroad securities.
Over 60O.OOO are stockholders with
an average holding Of S13,958,
Life INSURANCE. companies, with
63,000.O00 policies In force, own
nearly s2,O00,000,000 OF railway
securities.
Savings banks, with 100000
depositors, own $S47 100000.
Fire and marine Insurance com.
panles, casualty and surety com.
pnnies own total Of s640. 900, 900.
I Benevolent associations, coll
leges, schools, charitable instltu-
tlons, etc, own $350,00o,0o0.
Trust companies, State and Ma.
tIonal banks own sS0J, J,000,O 900.
According to statistics compiled for
the Association OF Life Insurance Pres.
ldents in 1918, 27.65 per cent Of life
insurance companies assets were In.
vested in railroad bonds. and during
the first half Of 1910 the percentage OF
railroad bonds held by the life insur.
ance companies was 1925 Of the total
assets Of these companies.
Interest OF Wsoe Farmers.
In addition 10 this widespread own.
ership Of equities Of American ruIl.
roads by the people Of the United
States every wage Garner who puts
money into the savings bank has a dl.
rect interest In the soundhess OF rail.
road Investment on account Of the
large part Of the savings Of men and
women wage earners secured by the
railroad bonds which are bought by the
savings banks.
A great many Of these institutions
are mutual savings banks which have
no capital stock, pay no dividends,
earn no profits for stockholders. and
their entire property belongs TO the de-
positors. Every dollar that the hank
earns beyond the sctual cost Of doing
business also belongs to them.
The report OF the United States
Comptroller Of the Currency for 1918
shows that 625 Of these savings hanks
operated on the mutual plan had at the
end OF 1918 total deposits of S4.422,.
e8,3e3.15 credited to 9.0i1.4G4 depos.
itors, an average deposit Of s4eo72.
These figures covered mutual savings
banks In Is states Of the Cnion.
The Comptrcller's report gives N,
amount Of railroad bonds held by mu.
tual savings banks In the six New Eng.
land states--Mslne, New Hampshire.
Vermont, Massachusetts, Rhode Islnnd
and Connscticut--as sI06.2T2, 100. The
report OF the Stute Superintendent Of
Banks OF New York shows that the
railroad bonds held by the mutual say.
ihgs banks at the end OF 1918 IN New
York amounted to SS9i,11i,33i.