The Daily Ardmoreite. [volume] (Ardmore, Okla.) 1893-current, 1921-08-02
PEOPLE BUYING STOCKS

The impression among some that
many of the Oklahoma public utilities
are owned and operated by big capi-
talists living outside Of the state and
having no local interests, excepting
their properties, is proven to be err
Ioneous by an investigation conducted
by the Public Utility Information Bu-
reau of the Oklahoma Utilities Asso-
citation.
The Bureau found that a majority
Of the public utilities of Oklahoma
are largely owned by business men
or customers Of the utility in the
community which it serves. From
to 10 stockholders, most Of them
local people, make up the great bulk
CT Oklahomas smaller public utilities
These owners are business men OF the
community and interested in its pros
perity and all its commercial activi-
ties in the same degree as are the
bankers, merchants and other citizens.
There are few large public utilities
in Oklahoma operating with capital
stock varying from s1.000,000 to SIS.
100000. The canvass by the Public
Utility Information Bureau shows
that most Of these have adopted the
policy of customer ownership. More
than sls,OO0,oOO Of the capital stock
o. Oklahoma public utilities is owned
ty customers and small stockholders.
These figures would be exceeded II
all the facts could be learned but
they are sufficient 10 show that Ok
lahoma. although yet new state, is
rapidly embracing ownership idea
which is revolutionizing the public
utility industry OF the country.
That the public utilities OF the
country. in addition 10 being controll-
ed by the people through their utility
and railroad commissions, are also
rapidly coming TO be owned by the
people IN the sense Of individual own
crship OF their stock, IS shown by a
survey TO determine the number Of
customers OF electric light and power
companies who are also owners Of
securities OF those companies, con-
Quoted recently by John +. Gilchrist,
vice president OF the Commonwealth
Edison Company OF Chicago. He
made n canvass OF forty OF the larg.
est electric utilities Of the country,
serving a population in excess OF 49,
100000 people
He found that Of the 2. 100000 Gus.
toners OF these utilities. $4,000, or
about per cent, were owners of
utilities securities and that OF the
number nearly 10000 had invested
their securities In stocks since the
aunlstice. This ownership Of the
utilities BY their customers. ne point.
ed out. had apparently increased the
number OF stockholders In the local.
ties served more than four times in
tho period since the war. the total
number Of shares OF stock sold by the
companies being IN excess Of 1000
900 shares.
The opportunities open 10 the mass
OF people for making safe investments
on a basis which is within their means
are very limited" Mr. Gilehrist says.
when the elements of a suitable and
safe investment are considered thcr,
is no form OF security which fills all
the requirements 10 the same extent
as do the securities offered by the
utilities OF their own communities
Their money is placed in home insti
tutions operated by their friends. the
physical properties Of which they can
see ali around them and with regard
20 which they can exercise their own
Judgment as TO whether or not the
money is wisely and economically ox
pended"