Fulton County tribune. (Wauseon, Ohio) 1883-1925, 1920-04-02
k!!LLI0NS IN U.S..
OWN RAILROADS
Wage Farmers Directly and In
directly Affected by Roads
SolvenCy.
DIVISION OF SECURITIES.
Mutual Savings Banks Owned Entire.
ly by Depositors Hold Large
Amount of Railway
Bonds.
DIVISION OF SECURITIES.

Millions of thrifty Americans who
have laid aside something 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, fire 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
1000 600, own outright about S10,-
O00,0O00OO in railroad securities.
Over 100000 are stockholders with
an average holding Of $13,956
Life insurance companies, with
100000 policies in force, own
nearly $2,OOO,O0O,OOO of railway
securities
Savings banks, with 100000
depositors, own $947 100000
Fire and marine insurance COM
panies, casualty and surety COM
panies own a total Of $649, ,0O0,0 900.
Benevolent associations, col
leges, schools, charitable institu-
tions, etc, own $35O,OOO,OOO.
Trust companies, State and Ma
tional banks own $S65, 100000
According to statistics compiled for
the Association of Life Insurance Pres
idents in 1918, 2765 per cent of life
j 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 1925 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.
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 bank
earns beyond the actual cost of doing
} 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 at the
end of 1918 total deposits of 50, 400,
096,393 Is credited to 9,011, ,464 depos
itors, an average deposit of $490.72
These figures covered mutual saving,
banks in 1S states of the Union.
The Comptroller's report gives thu
amount of railroad bonds held by mu
tual savings banks in the six New Eng
land srates-Maine New Hampshire
Vermont, Massachusetts Rhode Islant
and Connecticut-as $4o6, ,272, 1856 TIL,
report of the State Superintendent o
Banks of New York shows that tn
railroad bonds held by the mutual sav
ings banks at the end of 1918 in New
York amounted to S361.711.3 1874.