The Birmingham age-herald., 1910-09-13
MEAT PACKERS ARE INDICTED
 BY GRAND JURY
CONTINUED FROM PAGE D

tCONIIN FHOM PAOE and hogs, and also in the sale of fresh meats throughout the United States.
 The indictment further declares that the method adopted for so doing was first to refrain from bidding up the prices Of live stock; second, to agree upon a uniform system of figuring the cost of meats sent to branch houses, which resulted in an excessive cost being placed upon the merchandise. The next step, says the indictment, was l to force managers of the branches to ob- | tain this price. If any margin less than l the price was permitted 1t was one agreed upon by all of the defendants. Next, it is charged that the National Packing company was used to obtain in- formation in all markets as to what branch house managers were doing, this information being sent to the Chicago of flee of the National company at the end of each week. There it was accessible to the defendants as directors of this company. These reports, it is charged, were used by all the concerns as the basis of orders for tine next weeks busf- ness
 Holding of Stock
 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 offices of the National Packing com pany, it is also stated, were used as a convenient place of meeting.
 The second indictment is practically the same as the first except conspiracy instead of a combination in restaint of trade is charged.
 The third indictment charges that the packers have monopolized the trade in fresh meats by the following means: By a combination eliminating compe- titon in the purchases of cattle and in the sale of meat.
 By conducting the business of the Ma tional Packing company itself in har- mony with the business of the Swift, Armour and Morris interests. | By removing the New York Butchers and Dressed Beef association from the | field of competition by the purchase of 1 stock in that concern from time to time until control of it was secured. Listed in the indictments are the cities 1 and towns where the Chicago packing companies maintain branch houses. The | number of these places follow: | Swift & Co.,, 2S2
 Amour & Co.,, 316.
 Morris & Co.,, S2.
 The number of branch houses, each concern having several in a number of the larger cities, maintained by the packing companies follow:
 Swift & Co.,. 323; Armour X Co.. 371 i; Morris & Co.,, 106.
 Armour's Statement J. Ogden Armour, head of Armour x Co.,, one of the packers indicted. is- sued the following statement several hours after the indictments were re- turned in court.
 T 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. They can and will be removed.
 "The present charges involve four packing concerns out of ninA hundred that are engaged in interstate pack ing business in the United States. The defendants do only about one-third of 1 the packing business of the entire country. Their entire profits, are not | over 21a per cent of their total bus mess. This margin of profit Is less than that made by any other kind of manufacturing business in the world. | Yet we are attacked and assalled at all times and from all quarters Even this small margin of profit can be l n1due only Dy llle Ct'ioiiy in the utilization of every possible by product I feel that our business ought to be fostered and encouraged by the entire country rather than be constantly assailed.
 "rhe fact that the business has been conducted at the very smallest mar gin of profit is itself demonstration that no combination to depress the cost of live stock or to increase the prices of fresh meats could have been possible. Prejudice has arisen in the
 minds of many on account of the high
 CT cost to the consumer of pork and
 beef products. These higher prices are
 wholly due to the higher cost of live
 stock. This the growers of the coun- try know. During the period of these high prices the packers profits have been even less than the 2h per ceni margin to which l have already re- ferred."