Montpelier examiner. [volume] (Montpelier, Idaho) 1895-1937, 1920-06-04
MILLIONS IN U.S..
OWN RAILROADS
Wage Farmers Directly and In
directly Affected by Roads
SoNenOy.
DIVISION OF SECURITIES.
Mutual Savings Banlea Owned Entire.
" by Dsposlters Held Large
Amount Of Railway
Bends.

Millions Of thrifty Americans who
nave laid aside something for "rainy
Jay" are directly or indirectly owners
IL railroad securities. This ownership
represents not only individual invest
ment In the railroads. but holdings OF
railroad securities By life Insurance
companies, savings banks, IRE and INA.
rine 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
imately an follows:
Individuals, numbering over
100000, own outright about $40.
100000, 600 in railroad securities
Over 100000 are stockholders with
an average holding OF &13.050
Life Insurance companies. with
100000 policies In force, Own
nearly $4,000. 100000 Of railway
securities.
Savings banks, with 100000
depOsitors, own &S4T. 600. 900.
Fire and marine insurance com.
panles, casualty and surety com.
panies own total OF seas, 000. 600
Benevolent associations, col.
leges. schools. charitable institu-
items, etc, own $3.50 OO0, 600.
Trust companies, State and Ma
kln-at rvxyg& @nGW Nh nNN
According TO statistics complied for
the Association Of Life Insurance Pres
ldents in 1918, 27.05 per cent OF life
insurance companies assets were In
vested In railroad bonds, and during
the first half of 1919 the percentage OF
railroad bonds held by the life insur-
ance companies was 2020 Of the total
assets Of these companies.
interest o. Wage Farmers.
In addition to this widespread own.
ership Of equities OF American rail.
roads by the people OF the United
States every wage Garner who puts
money into the savings bank has dl.
rect interest In the soundness 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 10 the de-
positors. Every dollar that the bank
earns beyond the actual cost Of doina
business also belongs TO them.
The report of the United States
Comptroller Of the Currency for 1915
shows that 625 Of these savings banks
operated on the mutual plan had Mt the
end OF 1918 total deposits Of e4.422,
O00, 303.16 credited 70 coll, s64 depos
ltors, an average deposit Of s4o07
These figures covered mutual savings
banks in 10 states Of the Union.
The Comptroller's report gives ths
amount Of railroad bonds held by mu
tuai savings banks In the SIX New Eng
land states Maine, New Hampshire
Vermont, Massachusetts, Rhode IEiani
and Connecticut-as S406. 2T2, 160. Tn
report OF the State Superintendent Q
Banks OF New York shows that IN
railroad bonds held b. the mutual say
lngs banks 81 the end OF 1918 In Net
York amounted to S30l.711ya34.