16 MAY 1931, Page 44


Already there are signs that Socialistic forces, which have played so great a part in bringing about the present predicament of railway stockholders, are endeavouring to take advantage of the present situation either by nationalizing the railways at the present moment when Stocks are at the lowest level on record or by moving in the direction of reconstructing the companies through a drastic writing down of capital. What is to be the attitude of railway directors in the face of such-a situation ? Are they to put up no better fight for Railway stockholders than has been put up in past years ? I suggest that in view of possibilities in this direction the stockholders should lose no time in organizing strong committees to make their influence felt upon the boards of the various companies.