Los Angeles herald., 1910-09-13
TEN MEAT TRUST
BARONS INDICTED
Armour, Morris and Three SWitts
Are Held on Three
&
Counts Each
tcontlnusd from Page onsl

live stock; second to agree upon
uniform system of figuring the cost OF
meats sent to branch houses, whicn
resulted in an excessive cost belng
placed upon the merchandise.
The next step, says the indictment,
was to force managers Of brancn
houses to obtain this price.
If any margin than the price was
permitted 1t was one agreed upon by
all the defendants.
Next it Is charged, the National
Packing company was used to obtain
information in all markets as to what
branch house managers were doing
and this information being sent to the
Chicago offices of the National COM
pany each week. There 1t was accessl-
BILE to the directors of the company.
These reports, 1t is charged, were used
by all the concerns as the basis OF
orders for the next weeks business.
STOCK HELD IN PARENT COMPANY
The indictment also charges that the
Swift, Armour and Morris interests
held stock in the National Packing
company in proportions equal to the
proportions of business done by the
three houses.
The second indictment is practically
the same as the first, except that con-
spiracy instead of a combination in
restraint of trade is charged.
The third indictment charges that
the packers have monopolized the
trade in fresh meats by the follow
ing means:
BY a combination eliminating COM
petition in the purchase of cattle and
in the sale of meats.
BY conducting the business of the
National Packing company Itself In
harmony with the business of the
Swift, Armour and Morris interests.
BY removing the New York Burch-
ers and Dressed Meat association from
the field of competition by purchasing
stock in that concern from time to
time until control of it was secured.
]. Ogden Armour, head of Armour
& Co., one of the packers indicted, is
sued the following statement several
hours after the indictments were re-
turned:
IT deeply regret the bringing of
these indictments, for the charges are
unfounded, as will be shown when the
cases come to trial. The true facts
will then be made known. Misunder-
standings and prejudices have been
the basis of these attacks.
FOUR COMPANIES INVOLVED
"The charges involve four packing
companies out OF nine nuluISu lheeN
are engaged in interstate packing busi-
ness in the United States. The defend
ants do only about one-third of the
packing business of the entire country.
Their entire profits are not over two
and one-half per cent. of their total
business. This margin OF profit is less
than that made by any other KIND OF
manufacturing business in the world.
'Yet we are attacked and assailed at
all times and from all quarters. Even
this small margin of profit can be
made only by the strictest economy IN
the utilization of every possible by
product. feel that our business ought
to be fostered and encouraged by the
entire country rather than be constant
ly assailed.
"The fact that the business has been
conducted with the very smallest mar
gin of profit is itself demonstration
that no combination to depress the cost
of livestock or to increase the price OF
the fresh meats could have been pos
sible. Prejudice has arisen in the minds
OF many on account of the higher cost
to the consumer of pork and beef
products. These higher prices are
wholly due to the higher cost of live