The advocate., 1897-09-01
STOCK YARDS FINDINGS.
Special Master George W. Clark Reports
on the Evidence Taken to the
Federal Court.

of the rates fixed by the Legislature
would be necessary before the case
could be passed on. Judge George w.
Clark was, by agreement of the par
ties, appointed as special master to
take the evidence.
After months Of arduous and pains
taking labor Judge Clark has sifted
the vast mass of testimony offered by
both sides and has set forth that which
he believes pertinent to the question
at issue. 1t is a document framed by
judicial mind, and shows no partial
ity to either side in the controversy.
He sets forth no conclusions, for it was
not his function to make them, this
work being left for Judge Foster Of the
United States District court to COM
plete.
From the masters findings, however,
1t is apparent that he allows little i'm
pOrtance to the interstate commerce
contention Of the company scales their
claim as to the total value Of the plant,
shows that profits in the past have
been enormous, but not so great at
present, considering the market value
of the yards
Should Judge Foster decide, and his
decision secure the sanction of the Su-
preme court, that the stock yards bust
ness is not interstate commerce, 1t is
evident the whole case hinges upon the
question of the power of the State,
under constitutional restrictions, to
regulate business Of individuals and
corporations within its borders.
Judge Clark's findings indicate
plainly that only two issues will be on
trial-One as to whether the business
of the Kansas City Stock Yards Com
pany is interstate commerce, and, in
case 1t Is not, how far the State Of Kan
sas can proceed in the matter Of regu-
lating the same.
The report shows that the company
has given to packing plants as an in
ducement to locate In the vicinity Of
the yards $817 900 in stock, real estate
and cash. 1t is shown that in 1884 the
company reorganized and gave two
shares of new stock to each holder of
one share in the old company without
the payment Of any cash by them. All
lands not in use for the transaction
Of the business Of the company is ex-
clUded from estimates of valuation of
the companys property and plant. The
value Of the lands Is placed at $2,064,-
984. Judge Clark finds that about one
third Of the yards are In Missouri and
the remainder in Kansas, and that that
portion on the Kansas side has been
the source of the largest part Of the
revenues. Nine railroad tracks are To-
Gated on the company's lands, seven Of
which are in Kansas and two In Mis-
souri,. Most of the cattle shipped to
other States are driven from Kansas
yards over viaducts to railroad
switches, some of which are in both
States. The cOmpany's books show its
receipts for 1896 to be 81 ,023 $40, its |
expenses S36O,O59, making its net
profits $655,S11. Judge Clark figures
the net profits as $646,55S. The con-
struction account shows expenditures |
of $169, ,5S4, which the company con-
tends should go in as operating ex-
penses. This would reduce the net |
profits to $476,974.
The Attorney General contends that |
as the law does not affect the horse and
mule market, it should not be taken
into consideration. The report says:
III the theory advanced by the At
torney General should be adopted by
your honor, it will be found that by
eliminating the horse and mule depart
ment, whose present value is $3.50, ,420, |
the cost Of the tangible property used |
for stock yards purposes was $S,421,- |
941.S1; that the receipts in 1896 were |
1866, ,020.58; disbursements, $322, ,252.60,
and net income, $642, 1878, which
would show a net profit of IS and 7S-
100 per cent. on the original cost of