The Bridgeport evening farmer., 1916-10-23

ferent and separate books and records are kept. The figures we have published as to the fluid milk branch of business which is the only branch that affects the New York consumer and the only branch that is in competition with the other New York distributors, correct and we welcome the opportunity we hope to have in the pending investigation now being conducted by the Wickes Joint Legislative Committee to establish the ac- curacy of these statements. Perhaps the editorial writer of the evening paper will say: Tt makes no difference to the public how you make money enough to pay your dividends that big capital, the fact remains you make the money or you couldn't pay it out" Our answer is: "Our big capital is necessary because of our big volume of business. Large volume means pfoportionately greater plant equipment in the milk business than in most others because in the milk business the supply of raw material is limited at any given point is subject to violent fluctuations dictated by the workings of nature while the consumers steady all year round requirements must be met irrespective of these production conditions. Milk by its nature forbids resortng to storage other like manipulation to meet such conditions. That large capital is necessary lis further indicated by the fact that our net profit from all branches of our business for the last fiscal year was but about per cent. the volume of business done. That stock issue is not excessive and has real value behind it is proven by the fact that have actual tangible investment in our business largely in ex- cess of our total stock issle.p The profits from the manufacturing branch of the business, which is involved in this controversy, were sufficient to make up for the lack of an adequate profit in the fluid milk branch and enabled us to pay our dividends To ask us to one important line of business with profit, or an inadequate profit as judged by ordinary commercial standards be- cause we have made a satisfactory profit in anoth- CT line, is unreasonable that we will leave the verdict on that point to the public
 Second. The consumer should inform him, self as to costs and profits in the producing end of the milk industry. Is the same economy and eff ciency practised generally on the dairy farms as we have been compelled to deserve in order to survive the competitive conditions prevailing in the distributing end? We know that of the dairymen have adopted modern dairying methods, used commercially productive cows only and prospered under the prices paid for milk before the product was taken out of the competl- tive field by the Dairymen's League Some have done reasonably we'll some have lost money and done badly. There will always be some that do badly; no matter what they receive for their milk. There is certain percentage of failures in every industry where the wits and zeal and persistency of men are matched against each other.
 Forgetting however, the individual dairy for the moment and looking at the situation from the broadest aspect, it is vital from the standpoint of the people whole that milk production and milk distribution be maintained on plane of quantity and quality that will meet the demands of the people. The people must pay price that will insure production and distribution on this plane. They should pay more, and if they pay less they threaten the life of great industry to their detriment. This indus try, however, must be conducted as nearly as pos sible in harmony with the all-controlling law of supply and demand. Any artificial device, wheth- CT it be monopoly of production monopoly of distribution, should be resisted not only by those directly engaged in the industry but by the public. 1t this big deal for which con- tended in the recent milk controversy. We stood against n1onopostic methods and we stood for the principle of monthly prices to the producer and the consumer which would reflect natural market conditions. Our stand brought con- demnation in many quarters, but is already bring
 ing commendation from other quarters and even from many of the dairymen who at first SUD- posed that opposed them in their wish to ganize for their own benefit, whereas opposi- tion was directed against the methods adopted to attain their objects and because we could secure no consideration by their representatives of eco homie principles calculated to stabilize the indus try whole We believe in the organization of the dairymen, provided such organization is com pelled by law public sentiment or better still, by the good business of its members to avoid unjustfable practices to the same extent as we are compelled to play the game" according to accepted rules We believe in governmental regu- lation of the producers organization and of the distributors. We believe that law compelling all milk producers and milk distributors to keep accurate books of account showing detailed costs