The Cecil Whig., 1912-02-10
The Beef Trust Defense
Continued from Page ~

Continued from Page ~
fro mthe by-products. l undertake to
state here and now that that evidence
will show that on all these enormous
bcef transactions, AND INCLUDING THE
Y-PRODUCTS, with all the great eco
Monies and with the use of the best busi-
for the cheap handling and economic dis
posal, of by products, the profit per head
upon cattle during all that period has
been much less than $1.40; that the COM
plete net profit, during the years 1907,
1908, 1909 and 1910, BY-PRODUCTS AND
ALL, have been less than 25 cents per
hundred pounds of fresh beef.
1t will be shown to you by the evil
dence that John Smith, who lives in
Pennsylvania, has been able in Swift Il
Company, to have an organization Of
10000 men, and nearly 100000, 900 of
money invested, working for him, gath
ering up from the Mississippi Valley, an
animal slaughtering and converting that
animal into fresh meat, transporting it
in refrigerator cars to the town where
there to the retail meat dealers, from
whom John Smith buys beef, and that the
total compensation which John Smith
has paid to that great agency to do the
work is LESS THAN ONE FOURTH OF
ONE CENT PER POUND, upon the dress
ed beef; and that computed on the live
weight of the cattle handled, 1T IS LESS
THAN ONE-EIGHTH OF ONE CENT
PER POUND.
In that connection there will he placed
before you the figures showing conclus
lively and absolutely that instead of be-
ing q publ, enemy BY EXACTING EN-
ORMOUS PRICES AND PROFITS from
the people of this country on COM
modify necessary to the preservation Of
life, these packing concerns, in fact, are
the most efficient agency, and the most
reasonable agency, in point of profits for
their services, that exists in the econo-
mic fabric of our nation today, for rem
dering a great service to the people of
this land.
The evidence will show further that
the entire profit resulting to Swift &
Company upon its great capital and sur
plus, derived from every possible
source, duri lg the same period, has been
less than ten per cent annually upon its
invested capital and surplus, end less
than three per cent upon its turn over"
Surely men are not to be put in Jail be-
cause in legitimate and proper busi-
ness, serving great function in the
community, their corporations earned a
net profit of ten per cent on their an
nual investment.
/ no wagain call your attention to the
fact that the Sherman Law has been
construed by the Supreme Court of the
United States as to the meaning of its
language. On it's face it prohibits every
combination, contract and conspiracy in
restraint of trade" The Supreme Court,
however, has held that this language is
not to be read literally, but that the act
is to be construed as if it read "that
every combination, contract or conspir-
acy IN UNDUE OR UNREASONABLE
RESTRAINT OF TRADE, is PROHIBIT
ED" Or to put it in another way, no
act restricting competition, comes with
In the technical definition of restraint
of trade, unless 1t is IAN undue and
unreasonable act of restriction Now,
Just what acts are undue and unreason-
able may in some phases of the case be-
come a question of fact before this jury:
and If it does so become a question of
fact, then / insist that you pay close at
tention to these facts and figures with
reference to operation and to profits
which will he put in evidence for the
pur pose of establishing before this jury
that whatever has been done, is NOT
undue and unreasonable, when the result
is to give to the packers no more than
fair. Just, and reasonable profit, that
is less than the profit made by any other
great enterprise in the world.