The Austin weekly statesman. (Austin, Tex.) 1883-1898, 1889-12-05
WASHINGTON.
ArmOurs Testimony-Reed Selected by a
Republican Caucus for the Speakership.


Republican Caucus for the Speakership.
WASHINGTON, November Ex-senator
Vests committee, which has been investi-
eating the dressed beef interests of the
country for some months, resumed exam
ination of witnesses here this morning.
There were present OF the committee Sena-
tors Vest, Coke, Farwell, Manderson and
Plumb and number Of persons interested
as witnesses or otherwise. Among them
was P. D. Armour, Chicago beef and pork
packer. He was accompanied by his at
torneys, Messrs. Campbell, Martin, Quinn
& Dudley. Mr. Armour was the first wit
ness. His business, he said, was that of a
beef and pork packer. He denied being in
the cattle business.
Senator Vest, who conducted the exam
ination, said he did not purpose going into
the witness private record, and told wit
ness to call his (the senator's) attention to
any question that may be Objectionable
from private standpoint. Witness said
he had been in the beef business all his
life. The dressed beef business began to
be important about ten years ago. He
himself went into it after one or two other
firms had engaged in it. For two or three
wears ithad not been remunerative. Methods
had to be studied and the business learned.
In 1881 or 1882 it had become paying
business. Prices are lower now, said the
witness, than they were when we began the
dressed beef business. | cannot give exact
figures. In range cattle the decrease ~
price, however, had not been so great as 4n
or 80 per cent.
Armour was asked to what he attributed
the decrease in prices. He said to Senator
Vest that he had prepared written state
ment which would give his views upon the
po.nt if the committee would permit him
to answer in that way.
This was satisfactory to the committee
and Mr.. Quiner, one of Armourr's young
men" as he termed it, read long state
ment which included the figures OF The bus
mess for a term of years and comparison
of pIices at Chicago in 1883 and 1889: The
latter. it was asserted in the paper. showed
a reduction in prices of canned beef pro-
duets of 80 per cent. In con,
clusion, the statement denied
that the firm of Armour d. Co. had
engaged in any combination whatever 10
fix prices to be paid for cattle or price 1or
which products should be sold. An abb
ness of the firm Of Armour q Co. during
1883 the wear in which it was alleged (ac-
cording to this statement) that the prohts
nj the business were immense and In when
public agitation occurred resulting IN the
apnointment of the committee conducting
the investigation. This abstract showed
thar $40 650 head had been dressed on
which the net profit was $4lS,UO, an aver
age of 81. 80 per head.
Pesuming his oral testimony Mr.. Ar
mour said over production and over-msr-
letting were responsible for decrease III
nrices and Senator Vest questioned witness
as to the standing of the Chicago market as
ompared with others, asking II the Chl-
cago market did not control prices. ,,.
RI don't think so" was the answer. ~
is the largest market, and OF course III
fluences prices at other places. Ohicaso
prices regulate prices largely. ol
Senator Vest, reading from the annual
renort of the Chicago stock yards for 1855,
called the attention Of witness to the iact
tbat in 1881 there were marketed there
! aoa OO0 cattle, which brought $lS3,OOO,OOo
and in 1888, 2,611 900 cattle sold for $loZ,-
100000. .,o+9r
AZ ;s in accordance with my statement,
o;d ATmonr, "The growth of the amount
of S' cattle marketed largely exceeded the
Tn resnonse to this Senator vest pre-
aontod a statement showing that the IN
crease crease of cattle and of population ran along
10 aho1lt the same proporuon; Inc at.en-
t;on ~ of witness was directed TO ms state,
ment rror that putting hides upon the iree Isl
,,Itad meDt tadHH IN large importatfons of them.
resuI, Sanetor Vest stated that hides were
,on1 oa on the free list in 1872, while the
plhIieo of M prices in the statement begins with
those of 1876.