The times dispatch. [volume] (Richmond, Va.) 1903-1914, 1905-03-04
PACKERS EARN. \.
SMALl|P|R:||'0|:|.F|:'.!!.1'||''.s'|'I..
Report stblyittcd tp II SO Congress 'rs' sS'
Says Companies Are No7Itts
Over-C Capitalized
CAR LINES PAY 4 Well Y ::!L..l.
National Packing Company, 6 e'tt u
Evidence $,f Ii1tero ownership ship! ss /
Among B iig six ~ 81

n = 800 - n v
4{Bys Associated 2Preess.s,3

BY
WASHINGTON u. March s.--I''reslrs
dent ROOSEVELT to-day transmit TO ~
Congress the report OF tho Co ON sslol
III Corpora lions On the beef Industry 81
United Iii compliance with tho resol tion
u the III ,lse OF Representatives adopted ,t'a
March I, 1904. Tho President 8 letter i ~
8transinittu1 refers to the y
treated In the port and says Y y l nat ~.
Svlcw the fact that the Depurt,nlerll'ts'of
Justice b 3 now engng od tpoi, other tl mat
8ters involvcdsinEthe fesollt ton; the sec
rotary Of Commerce aid labor ea'nho1
Eat this time report til ereoll ~; p
What Report Says.
The report Of the Commissloo re 2 !
Corporations lis TO the effect . Tia II sl .s
packing companies, Arnlol d q y,
sMorrtsS& Company the N tioial. P Z e;El
EnE Compauy,S the SchWarzsclild =
berger NJ Company and the Cudnh y t'a en-
$ing Company auglltered In he yea, ls "
about As per- cent. 8of the otal intlca tee
{slaughtcrflnS the United states; Int the ne.
average net profit in 1903 for three OF INC :.
companies was.se9 cents per head ,S3t l 1l !
the year 1909 instead 81 OF being on q
was less profta pie TIM 2
usual una that during tile months W , 81 !
prices or beef were the hghest & some az
least Of the leading pilck ers were actuat Y
losing money on every y cad sig llg
The changes in the Ilarketa ostWecii
az CIT tie and beef are In 8themsel Ives no
Indications whatever Of the change IN
profits says the report. Prices ana 60 con- II
Etitlons for the years 1902 1908 and oo4 tnre
reviewed . Concerning condit lions IN l9 3tS
stl,cgrcport says fig8{s .G X 4, Il
& 88tiIn the face Of the strong demand, the
price OF cattle was forced to- the hiGtlest
level ever known, The hiGl prices OF peel ee1.
Ewhicll%catised5sosm much complaint among
CONSUMERS at this time, ere tribute PIE
wholly to- these Abnormal cattle price
The Conclusions.
rho report says that in 1908 the pr ce q
#ofNcattle fell very sharply, sichiefiy re-
cause OF a lnrge increase in the Supply
Thereport states these conclusiol St ;s5 My,
9s That the SIX companies especial lyS d'Sl
Scussed nre apparently not over5;tcapi't ;a
Ejzcd; that tic percentage OF profit on Y ne
gross volume sc business Is compare lively
Small ana that during the years 1902, 1905
and 1901 Swift & Company s pro.ltss have hay
mot exceeded . .Ier cent Q the sstottlail
sales Gudaly#& Company's is stated a.
lis lperGcent. for 1904 and per cen 7: 3f or
1909. wit reference to priyate car lines
5in tile packing industry, it lis stated tllat
tine profit is az very literal one, a net re-
turnSofEfrom Il to IL per cent, being IN Z.
idicnted butsit3 Isl added thnt treckoned oil
Limo basis Of dressed beef tianspoi't (,
|Atles profit would add hut tile to the
cost az beef to tho consumer The. profit
OF oJe concern. Cudahy Packing Com
EpanH on its Investment iii cars. was q 8
high as o9 per cent. in one year; Fur
Ethersit stated that the six prime pal pac k-
Ing concerns, while they slaughtered but
AZ per- cent.Spf the total cattle killed.
1908 slaughtered nearly 9S per cent. q
the cattle killed In light leading western
packing centers; that they control g very
large percentage Of the trade III beef.
particularly in Tho East and that they
furnish New York about % per cent;
I%Boston more han IS per cent, Phllu-
l3dclphln about 60 per cent, Pittshurg more
THAN co and Baltimore about 90 per cent.
The report III conclusion says that the
National Packing Company mentioned as
one Of the "big siS,'is a mefger of varl-,
Gus packing nlhnts, but except for that
I4conccrn, there appears to be no general
t4interowncrship OF stock among the SIX
l&prlncpal companies, Hi III q