The Jasper weekly courier. [volume] (Jasper, Ind.) 1858-1922, 1920-03-19
MILLIONS IN US.
OWN RAILROADS
WAGE Farmers Directly and In
directly Affected by Roads
SoIvency.
DIVISION OF SECURITIES.
Mutual Savings Banks Owned Entire.
iy by pepesiters Hold Large
Amount 81 Railway
Bonds.
DIVISION OF SECURITIES.

Millions OF thrifty Americans who
have laid aside something for q 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 $10,-
OO0 OoO. 600 In railroad securities.
Over 100000 are stockholders with
an average holding OF $13. .966.
Life Insurance companies. with
b3, ,OO0. 900 policies in force, own
nearly $1,000. 100000 OF railway
securities.
Savings banks, with 10,000, 900
depositors, own $S47 .OOo, 900.
Fire and marine insurance COM
panies, casualty and surety COM
panies swn q total Of 16l9. .000. 600
Benevolent associations. coll
leges. schools, charitable institu-
uons, etc, own $3.50. .o00. 600.
Trust companies. State and Ma
tional banks own 1896, ,0O0, 900.
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 insur-
ance companies was 2625 Of the total
assets Of these companies.
Interest 81 Wage Earasra.
In addition 10 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 q 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 1918
shows that 625 Of these savings banks
operated on the mutual plan had at the
end Of 1918 total deposits OF S4.422.
o96. .S93.l5 credited to coll. .464 depos-
tiers. an average deposit Of $3.50 72.
These figures covered mutual savings
banks in lS states Of the Union.
The COmptrsiler's report gives the
amount Of railroad bonds held BY Law.
tuai saviags banks In the six New Eng.
land ststes-Haine. New Hampshire,
Vermont. Massachusetts,. Rhode Island
and Connecticut-Rs t+Od, ,212, leo. The
report Of the State Supsr4AtenAept sl
Banks Of New York shows that the
railrsad boaAS bella By the mutual say.
ings banks at Ne end sf 1918 u NSw
xssk amounted 10 i3el-1lllA