The Tupelo journal., 1905-03-17
Big Packers Exonerated by Garfield.

The report OF Commissioner Garfield
on the methods under which the business
of the so-called beef trust is conducted
has been published and a closely printed
book of over 300 pages is the result of the
examination to which that industry has
been subjected. The report is very full
and complete, every phase of the business
having been investigated with the Utmost
care and t~horoughness, as is shown By
exhaustive tables of figures, with anthem
ticated facts and statistical data covering
| almost every detail of the business.
After a careful reading of this report
it is impossible to arrive at any other con-
clusion than that for some time past
| there has been a great deal said and writ
ten about this great industry that has
had no foundation in fact. 1t would APP
pear that a popular clamor has resulted
from newspaper comment and the pas
sage Of many resolutions by those who,
as plainly shown by the report, were with
out any definite information. This re-
port, the result of an inquiry in compli-
ance with a congressional demand upon
the secretary of commerce and labor, is
so complete and detailed that, as a whole,
| it will not of course be read by the pub
lie at large, but the facts and figures,
authenticated by government expert cx-
aminers, which it contains, show with
indisputable certainty that the hue and
cry raised during the past year against
| the packers has been at least unreason-
able and much of it, indeed, has been
hysterical.
These officially ascertained facts are a
surprise to very many who have been i'm
pressed by the denunciatory language
they have read and heard for some time
past, for they now find that, instead of
| the great profits said to be made by
western packers, the business is being
conducted upon a smaller margin of
profit than that prevailing in any other
| industry. COMMISSIONS Garfield himsel
says: 1.-The year 1902, instead of being
one of exorbitant profits, as has been
commonly supposed, was less profitable
| than usual" and this will be remembered
as the year when the highest prices ruled
and the packers were being everywhere
accused of extortlonate methods. Regard
ing this very year when the complaints
of injustice were the loudest and the
I'm fact during the months when the
prices of beef were the highest, some, at
| least, of the leading packers were actual
| Nv losing money on every head Of cattle
| slaughtered" for the reason, he con-
tinues, lit was not possible to advance
the prices of beef in full proportion to
| the great advance in the prices of cattle
| at that time"
The report also shows that the public
belief that enormous profits are usually
| Characteristic of the beef business is en-
| tirely erroneous, as it proves, after full
| investigation, that the maximum net re-
turn on the several investments was two
and three-tenths per cent. and the mini
mum one and eight-tenths per cent.
The report is much too detailed and
| extensive to attempt any thorough review,
| but it clearly demonstrates that there
| has been a great deal of unnecessary
| alarm on the part of the public as to TIE
| meat situation and a good deal of loose
denunciation oil packers about whose
methods and business there has been lit
| tie or no real information. The conclu-
| sions Of Commissioner Garfield are all
| the more valuable as the investigate
was by no means commenced in anything
| like a friendly or partial spirit and that
It has been full and complete is shown
when he says: "All the statistics taken
| from the books of the companies wcr,
| checked in The most thorough manner.
| Totals selected at random were verified
| by the items. Many typical punches Of
| cattle have been traced from the time of
purchase to the time of sale as dressed
| beef, thus obtaining accurate informa-
| ton from original records of costs, of
actual selling prices and of ultimate
| profits. In many cases the statements Of
| cattle purchased by the companies were
Compared with accounts of the commits.
sion houses ii ough whom the cattle
were sold. The various checks thus en-
! p]oved insure the absolute accuracy OF the
igures."