The Idaho Republican. [volume] (Blackfoot, Idaho) 1904-1932, 1923-07-26

Altho that used to be true of many
companies, this feature Of railroad
ing has changed with the time. Many
companies are partly owned by the
employees, and most Of the roads
encourage employees to buy stock
giving them every opportunity they
can, to. buy and pay for 1t on the in.
stallment plan, thus giving them the
constant opportunity to work fol-
themselves to such extent as en-
plOyees become owners of the stock
and experience proves that as the
employees become stockholders, the
service becomes better and the men
happier in their work. They plan
better. work to better advantage, are
not 80 likely to go on strike over
matters that might be settled by
arbitration, it makes for better con-
ditions for all concerned.
The Union Pacific, on the first of
July, 1928, was owned by 51,O16
stockholders, of whom 43 per cent
were women. No person, firm or
corporation owns more than per
cent of 1t, and the average holdings
is sixty-three shares of the par value
of 500 share, or $4,000 each. A
large amount of the stock Is regis
tered in the names of stock brokers
who are handling it for individual
owners. Much of 1t is owned by life
insurance companies, who are re-
quired to keep their funds invested
in good standard securities that can
be converted into cash at any time.
Nearly all the strong insurance COM
panies in the United States hold
stock in the Union Pacific, and while
it is safe and sound, the insurance
companies and their policy holders
have a valuable asset that would be
impaired in value If the road should
fare badly. BY reason of these rela-
tions, 1t is to the advantage of peo-
pie carrying life insurance, to pro-
tect the railroads from disaster even
IL they could dismiss the inconven-
fence and losses that come to the
public when rail service is less eff |
ficient. These 81 ,016 stockholders |
are scattered thru, all the states in |
the Union and some in our territorial
possessions. If assemblued in one
place they would just about equal
he population of Ogden, Logan and
Provo, Utah. They never get them
ogether for stockholders meeting,
Ind their wishes can only be ex-
pressed thru written communica-
ions or by delegates and by proxies
,iven to those who can attend the
meetings and give expression to their
wishes. When stockholders meet
ng is to be held, it is done as life
insurance companies do it, by send
ng out notices with blank proxies
nd return stamped envelopes, so
hose who do not plan to attend can
Ign the blank and mail it back, ]
'riting in, II they wish, such mes !
age as they wish to express to the I
In this way they get a 6
presentation of from 60 to 70 per
emit of the stock. If some great
,andal should arise in the manage
lent of the road, and it became e
ecessary to investigate their con- t
lct and replace some of the Of \
lie officials, they could act thru t
slegates, and would so act and soon v
1t action to restore their property n
to the hands of competent men c
hose ambition it would be to make b
BOD. 1t is the ambition of all true t
lilroad men, to render efficient +
rvice to the public, to secure a a
oft for the stockholders and to i'm 5
owe the railroad property fast a
ough to keep abreast of the needs b
the public. e.
How to Finance Roads =,
Railroads no longer have secrets. 81
leir books are open, and have to 81
/. Commerce commissions and G.
ility commissions must be shown W
erything, and no item of expense q
of income can be concealed from W
bile view or from the view Of the CT
representatives. of the public. The tt
ilroad company cannot raise nor n
wer the rate without the consent of 81
ese commissions. The road must in
rnish the service, and it must keep ia
its equipment. If it fails to re- bl
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