The Montgomery advertiser., 1902-05-18
MIR. FERTON CLOSES
FRESH MEAT DEALER SAYS RE
 WAS FORGED OUT OF BUsIf Ess
Place on Church Street Suspended and Owner says So-called Beet
 Trust Caused Him to Lose Patrons.


 W. c. Yelverton. one of the largest retal! dealers in fresh meats in Montgomery. closed his place of business at No. I Church Street yesterday and filed a voluntary petition in bankruptcy. His assets are. given at $4,s 4 and his liabilities at a. sss.s Mir. Yelverton. in an interview with a representative of Tle Advertiser. said he had been forced out CT business by the so-called beef trust and that be would not resume until the price of fresh meats had been materially reduced.
 It vas reported that Mir. Yelverton had been forced out of business by the so-caIIed trust because he had made an affidavit con cefning the price of fresh meat in Montgcm- cry. which affidavit was filed with the United states District Attorney. who is making an tnvestigation of the methods employed in Middle Alabama by the Western packing Verton. who sad 1t was true that he had made such an affi1avit but that it was net made until he had prepared the petition in bankruptcy and was ready to suspend busi- ness.
 The liabilities of. Mir. Yelverton consist for supplies of fresh meats. The assets are formed by outstanding accounts which are regarded as coliectible, and other properties empted under the laws Of Alabama.
 Mir. Yelverton had conducted fresh meat ans business s,, and green grocery in Montsome5y d E purchased fresh meats almost exclusively from the Cudahy Packing Company and the Armour the prices of fresh meats had continued to advance until they had reached point where his trade had been almost ruined and he had
 Beef has advanced from 2h cents to 3 cents per pound. by the carcass. during the that that the retailer must advance his pric.s from to cents per pound to make profit and the customers cannot afford to pay 1t. To do a successful fresh meat business dealer must have an average-up trade. That Is to gay. he must have customers for rough meat as well as for the finest cuts: This is due to the fact that to buy judiciously fresh meats should be
 bought by the dealer in carcasses. If dealer
 can only sell the finest cuts. the rough meats
 are left op his hands. This is the point that
 people and. indeed. the medium zclassesr and-
 ing the prices so much advanced: quit buying
 so much and some of them quit altogether.
 My trade was reduced to a point where 1t
 made doing business unsafe and closed up. ,"
 what $ the market price of Western beef Flight and half and cents a pound" re- piled MT. Yelverton, ''and to make living re-
 tall dealers have to sell the best , euss a at ,, E when was the last advance in prices
 ..About three weeks ago."
 What was that advance? sa "One-half cent per pound" Swift & e. withdrew from Montgomery last My recollection IS that the pfsce oi .uceI has advanced 1z cents a pound since Swift & Co. withdrew from this merket.
 Mir. Yelverton said that at present the West ern packers, are charging ceuts pound Tor beef in the carcass. 10 cents a pound for sheep I in the carcass and 12h cents for pork lofns. Pork Is not sold by the packers in the carcass. These prices are about 2h cents to cents higher than they were one year ago. Then Mir. Yelverton explained, that the mar ket for live stock throughout the country was affected by the1 advance in fresh meats made by the so-calied trust. He said that there was Livery little saving in a dealer doing his owr sfadghtering. He would have to purchass his
 live stock and &he prices of live stock were correspondingly high. being made in large markets.
 .sIs there any truth in the report that the Western packers refused to let you have your supply of meats yesterday because you had made affidavits against the so-called trust? | Mir Yelverton was asked
 | .'No: that is mistake, replied Mr. fei verton. 'The fact is did not make an af | fdavit against the packers until was getting l ready to close my place."
 The affidavit made by MT. Yelverton ant | filed with District Attorney Reese showed tha I Mir. Yelverton had been forced to go out O business because his patrons could not pa! l the price demanded by the so-called trust | in Montgomery six weeks. beginning in Febru | ary. 1902. and that during their stay in Mont gomery the price of fresh meats was reduced | but when they withdrew from here the prices I had been advanced 1lA cents per pound Mir. Yelverton said his resumption of bust ness depended entirely upon the price of fresi I meats. If it was reduced. he said he miEh l begin business again within month. If th' I prices remain as they are now he said h' would not return to the business.