The Topeka state journal., 1918-08-17
Many Concerns Reap Enor-
nous Harvest From War.
Treasury Department Gives Out
Profiteering Report.
BIGGEST HAUL WAS IN FOOD
Shoes Yielded Startling Re-
turns to Manufacturers.
Farmers Have Made Very Little
Profit on Grain. =

Washington. Aug. 17.-AmazinE
profits in almost every branch OF
American industry were brought to
light today when the treasury depart
ment completed it's long awaited re-
port on profiteering.
The report covers 1880 corpora
tions, the names of which are with
held. 1t was prepared in Response
to the Borah resolution, adopted by
the senate after President Wilson, N
his revenue address to Congress on
May 81, declared that there was
treasury department. with regard to
profteering.
Can't Publish Names.
The treasury department takes the
position that it would be a violation OF
existing law to make public the names
of corporations and their earnings.
The senate resolution is not sufficient
\ to suspend the law: it would require a
joint resolution, the treasury depart
ment holds.
Members of congress who have ex-
amined the report, regard it as a COM
plete vindication of President Wilson's s
frank statement about profiteering.
ample justification for the 80 per cent
war profits tax urged by Secretary of
the Treasury McAdoo.
Biggest Profits I'm Food.
The most extraordinary profiteering
revealed by the report was in food
stuffs. Producers of nearly all the
common necessities of life were shown
TO have maze enormously increased
profits i'll 1917 over 1916, altho their
earnings in the latter year were in
numerous cases far above the 100 per
cent mark Meat packersF profits were
shown to have increased substantially.
One large packer made 19 million
dollars more in 1917 than in 1916.
In the iron and steel industry SEN
sational profits were disclosed. In
coal and oil profits mounted to un-
paralIeled figures. Public utilities OF
virtually every character also came
in for a liberal share of the increased
prosperity.
The report which is made up Of a
huge mass of figures and statistics is
herewith presented N summarized
form:~
Money in Diaries.
Among the dairy concerns large in
creases of profits were shown. One
company with 100000 capital made
S166, 600 in 1917 against 900 the
year before. The small dairy men
made the largest percentages OF in
creased profits. One little concern
as compared with $4,000 for 1915.
Fisheries showed largely increased
profits. The excess of the per cent OF
net income to capital stock for 1917
above the~percentage for 1916 ranged
all the way from zero to 164 per cent
There were very few zeros.
Fruit and vegetable growing indus
tries profits increased considerably
over those of 1916. althe they were
fairly adequate for that year. One
concerns profits were 240 per cent
more for 1917 than for Is. Con
Germs with small capitals showed the
largest increases.
No Profit in Grain for Farmer.
Wheat, corn and barley growing wa;
not so profitable. according to the re-
turns. Those that showed a percentage
of increased profits usually showed
losses for the year previous. Indus
tries grouped as mixed farming" II
New England, middle Atlantic, cen
trail and southern states all made in
creased profits for the year, but II