Show Ownership of pf I Information developed by the prelim prelim- Inar mary nary arrangements for the coming corning annual annual annual an an- nual meetings of ot the tho stockholders of ot some of ot tho the big railway corporations of ot the country countr throws a n. striking and 81 significant sig sig- ll light ht oa on a change chang that has been going on for tor a year ar In the tho ownership of railways ways Tb The ThA somewhat astonIshIng astonishIng astonish- astonish Ing Ins fact tact Is disclosed ed that while rai- rai way ma magnates ratel ha have hav been crying from the hou housetops that the Innocent In Investors In- In were b h being ruined by adverse ader that It was wai to secure money for railway betterments better hetter- ments the investors In of or the country have hn been buying railway stocks and that iliaC the tho Ire rean really become large owners of t railway stocks and securities li ties The Thc Pennsylvania railroad for in instance In- In r stance rc reports orts that tho the number of Its individual stockholders has Increased to an ami In Increase rease of or since la last t ta I May a and an In Increase of In a year ear Th The Thew New ew York Central It Is anI announced an announced an- an will vill close clos Its stock books booles 20 O Oda da days s 's before the tho payment of or tho the next dividend Instead of tho 15 Ij I days as allowed d heretofore because the tho number of stockholders ers has Increased In Increased In- In creased to a gain otI of ot 75 per cent in tho the last year car Similar I reports are made by the Ch Chicago Milwaukee Mil waukee and St. St Paul th the Great cat Northern North North- ern em tho the L Pacific and anel sonic some other othor big systems It Is now estimated estimated esti mated that full fully persons or orone orone orone one In tn o ery eighty of the population own stock In American railways railway The meaning of all this change is plain The American merlean people realize the value of or American railways POI For several sev soy erol eral years cars the railway financiers have manipulated stocks and kept a 0 fictitious value on on rOost mot of ot the securities In Inthe Inthe th the tighten tightening InK money market marlet the manipulators ma ma- have been compelled to sell sonic some of th their lr securities the water ater has haA been SC squeezed out o or of Inflated stocks and InC tuo investors In have taken advantage of ot tho the opportunity to buy sound stocks at tt reasonable valuation |