The Aberdeen weekly. [volume] (Aberdeen, Miss.) 1878-1933, 1920-08-13
MILLIONS IN US.
OWN RAILROADS
Wage Farmers Directly and In
directly Affected By Roads
Solvency.k
DIVISION OF SECURITIES.
Mutual Savings Banks Owned Entire
~ by DeposItors 1oId large
Amount of Railway
Bonds.

Millions Of thrifty Arneriears who
have laid aside sornstning for rainy
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, IRE and ma
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.
The ownership Of railroad securities
among these people is divided approx
imately as follows:
Individuals, numbering over
100000. own outright about $1O,-
OO0,0OO,0O0 Ia railroad securities
over 100000 are stockholders with
an average holding OF S13, 936.
Life insurance companies, with
100000 Policies In force, own
nearly $1,000, 00O,0 600 OF railway
securities
Savings banks, With 100000
depositors, own SS47, 100000
panies, casualty and surety com
panies own a total of $649, 900 600
Benevolent associations, col
leges. schools, charitable institu-
lions, etc, own $350BOO0,O0O
Trust companies, State and Ma
tional banks own 1855, 100000.
According To statistics compiled for
the Association of Life Insurance Pres
idents in 1918, 27.65 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 sf1sur-
ance companies was 2625 OF the total
assets of these companies.
interest of 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 di-
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
great llany u l4lcSG- AHSlILullOuS
are mutual savings banks which have
DO capital stock, pay no dividends,
earn no profits for stockholders, and
their entire property belongs to the de-
positors. Every dollar that the bank
earns beyond the actual cost of doing
business also belongs to them.
The report OF the United States
Comptroller Of the Currency for 1913
shows that 625 OF these savings banks
operated on the mutual plan had at the
end of 1918 total deposits OF 81, 422,-
O96, 1893 10 credited to 9o11, 464 depos- |
itOrs, an average deposit of $490.72. |
These figures covered mutual savings i
banks in Is states OF the Union.T
The Comptrollers report gives the |
amount of railroad bonds held by mu- |
tual savings banks in the six New Eng |
land states-Aaine, New Hampshire, |
Vermont, Massachusetts,, Rhode Island |
and Connecticut-as S406 2T2, 1876. The /
report of the State Superintendent of /
Banks Of New York shows THAT the |
railroad bonds held by the mutual saw
ings banks at the end of 19f81in New
York amounted, to 1851, III, 3S4
i