Rensselaer Semi-Weekly Republican, Volume 37, Number 26, Rensselaer, Jasper County, 4 April 1905 — Who Owns the Railroads. [ARTICLE]

Who Owns the Railroads.

H. T. Newcomb, o District of Columbia bar, - bas compiled statistics showing that 5,174.718 depositors in savings hanks of six Eastern States are directly interested In tha Joint ownership of $442,354,086 of steam railroad securities, that insurance companies doing business „in Massachusetts hold $845,880,038 of steam railroad stocks and bonds, and 74 educational institutions depend on $47,468,-' 327 invested in similar securities for a portion of their income. Other fiduciary. institutions own enough railroad) securities to bring such holdings up to more than a billion and a half dollars, about one-sixth of the entire capital Invested in railroad property. These investments wepresent the savings of the masses, there being twenty million holders oj life insurance policies in the country, as many more of fire insurance policies, and. an even greater number of depositors in banking and trust institutions, where investments are largely in railroad securities.