The Birmingham age-herald., 1905-03-04
Only Makes 99 Gents on Every
 Head of Cattle
PROFITS SMALL LAST YEAR
Only Made 22 Per Cent On Their h. vesment In Private Cars and Only Slaughter 98 Per Cent of
 Beef In the West.

Washington, March 3.-President Roose- welt today transmitted to Congress the report of the commission of corporations upon the beef industry submitted in com pliance with the resolution of the House of Representatives, adopted March !, 1904. The Presidents letter of transmittal Is as follows:
 ITO the Senate and House of Representa- lives.
 q transmit herewith a report from the Secretary of Commerce and Labor upon that portion of the resolution of the House of Representative of the resolutions adopted March ', 1904 having to do with the prices of cattle and dressed beef, the margins between such prices. and the organization, conduct and profits of the corporations engaged in the beef pack ing industry.
 "In view of the fact that the Depart ment of Justice is now engaged upon other matters involved in the resolution, the Secretary of Commerce and Labor cannot at this time report thereupon.
 THEODORE ROOSEVELT.
 White House. March 3, 1905."
 Average Profit ee Gents.
 The report of the commission of cor porations is to the effect that six packing companies-Armour 6r Co.,, Swift & Co.,, Morris & Co.,, The National Packing com- pany, the Schwarzchild &s Sulzberger com pany and Cudahy Packing company slaughtered in the year 1903 about 45 per cent of the total indicated slaughtered in the United States; that the average net profit in 1903 for three of the companies was 99 cents per head; that the year 1902, instead of being one of exorbitant profits, was less profitable than usual; that dur ing the months when prices of beef were the highest some at least of the leading packers were actually losing money on every head slaughtered.
 The changes in the margin between prices of cattle and beef are in themselves no indication whatever in the change of profits says the report. Prices and condi- tions are stated that the six companies especially discussed are apparently not over-capitalized; that the percentage of profit on the gross volume of business Is comparatively small, and that during the years 1902 1903 and 1904, Swift & Co.'s profit have not exceeded per cent of the total sales. Cudahy & Co.'S is stated at 18 per cent for 1904 and 2.3 per cent for 190Z With reference to private car lines SNe'~S0 tho profit is a very liberal one. a net return from fl to IT per cent being in- dicated, but 1t Is added that reckoned on the basis of dressed beef transported the profit would add but little to the cost of beef to the consumer.
 22 Per Cent on Private Cars.
 The profit of one concern, the Cudahy Packing company, on its investment in cars was as high as 22 per cent In one year. Further, it is stated that the six principal packing concerns which they slaughtered but 45 per cent of the total cattle killed in 1903. they slaughtered nearly 9S per cent of the cattle killed in eight leading western packing centers; that they control very large percentage of the train trade in beef. particularly in the east and that they furnish New York about 75 per cent Boston more than s5 per cent Philadelphia about 60 per cent. Plttsburg more than 60 per cent and Baltimore 40 per cent.
 The report in conclusion says that the National Packing company. mentioned as one of the Big Six" is a merger of various packing plants, but except for that concern there appears to be no gen. eral inter-ownership of stock among the six principal companies.