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Exposes Three Financial Fakes and Fallacies
An address by F N Shepherd of the American Bankers Association debunks claims that Wall Street owns all corporations and that railroads are overvalued or that the Federal Reserve harms farmers. He cites stockholder counts in major firms and explains railroad valuation under the La Follette Act, noting no guaranteed railroad income and a 5 percent rate guideline based on property value.
MENTIONED IN THIS ARTICLE
F. N. Shepherd
American Bankers Association
Kansas City
Missouri
Wall Street
Federal Reserve Banks
Shepherd
Union Pacific
Pennsylvania Railroad
American Telephone and Telegraph Company
United States Steel Corporation
Interstate Commerce Commission
America
Mr. Shepherd
Federal Reserve
Federal Reserve System
Boston
New York
Philadelphia
Cleveland