The Concordia sentinel. (Vidalia, Concordia Parish, La.) 1882-current, 1920-07-03
nILLIOES IN u. S.
own RAILROADS
Wagc EarnHrs Directly and In.
directly Affected by Roads
SoIVen0y.
DIVISION OF SECURITIES.
Mutual Savings Banks Owned Entsfe'
~ by DepooItors Hold Large
Amount of Railway
Bonds.
DIVISION OF SECURITIES

Millions Of thrifty Americans VIZ
have laid aside something for rainy
day are directly or indirectly ownert
Of railroad securities. This ownership
represents not only Individual invest
ment In the railroads, but holdings o.
railroad securities by life insurance
companies. savings banks, fire and ma
rine insurance companies, benevoien'
associations, educational institutions
trust companies and State and Nation
al banks. A large part of the asseS
of these institutions depend on the sol
vency of the railroads.
The ownership of railroad securities
among these people Is divided approx
imately as follows;
individuals, numbering over
100000. own outright about SlO'-
OO0.O00.000 in railroad securities
Over 100000 are stockholders with
an average holding-of $l3,910.
Life insurance companies, with
63,OO0.OOO policies in force, own
nearly $2,0O0,OO0O00 of railway
securities.
Savings banks. with lO.OoOOOO
depositors, own $S47, 100000.
Fire and marine insurance com
panies. casualty and surety com'
NAMES own total of s649 000,0 coo.
Benevolent associations, col
leges. schools, charitable lnstitu-
lions. etc. own S350,0c0,00o.
Trust coulpnnies, State and Ma
tiopal hanks own $3.50 100000.
/ According TO SATISFIES complied fo'
/ the Association of Life Insurance Free
tdents in 1913, 27.65 per cent OF IRE
Insurance companies assets were III
vested IN railroad bonds, and durlns
the frs, half of 1919 the percentage o.
railroad bonds held by the life insur
ance companies was 26.z5 of the tota
assets of these companies.
Interest Of Wage Farmers.
In addition to this widespread own
ership of equities Of American rail-
roads hy the people of the Unite'
States every wage Garner who put
, money into the savings bank has q
rect interest in the soundness OF raj
rood investment on account OF IN
J large BART OF the savings of men an
women wage earners secured by IN
railroad bonds which are bought by IN
savings banks.
A great many OF these institution
: are mutual savings banks which nav
+ no capital stock. pay no dividend
y earn no profits for stockholders an
their entire property belongs to the q
positors. Every dollar that the bar
earns beyond the actual cost Of doll
business also belongs to them
l. The report of the United Stat
rt Comptroller of the Currency for 10
a shows that Cos Of these savings BAN
a operated on the mutual plan had at Il
= end Of 1918 total deposits of 81 a.
II og6 1893 Is credited to 9011 AGA depC
5. ,tors. an average deposit Of $780,
IS These figures covered mutual savin
Re hanks in IS states OF the Union.
o. The Comptroier's report gives
amount of railroad bonds held by II
tuaI savings banks in the six New FL
~ land states-Maine. New Hampsh.
- Vermont Massachusetts, Rhode lsla
!: and Connecticut--as $4O6,2I2, l66. !
IN report of the State Superintendent
Ranks of New York shows that
railroad bonds held by the mutual $
n lngs banks at the end of 1913 in n
ia YORK amounted to $S61.ill.334.
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