Iron County news. [volume] (Hurley, Wis.) 1913-1950, 1918-08-31
PROFITEERIn; is
BAREDBY REPORT
Treasury Department Tells How
the American Public Has
Been Made to Pay.
BIG INCREASES OVER 1916
Producers Of Foodstuffs Made the Most
Enormous Profits, and Nearly Every
Other Branch of Industry Piled Up
Huge Riches.

Huge Riches.
Washington, Aug. 1.-THE treasury
departments report on profiteering,
Just completed In response to a senate
resolution and covering 1880 cOrpo-
wtions, reveals the fact that aston
tshing profits have been made in al
most every branch of Industry in
America in 1915 and 1917. The names
Of the concerns are not made public.
The treasury department takes the
position that It would be a violation
OF existing law TO make public the
names OF corporations and their earn
tngs. The senate resolution is not suf
Scent TO suspend the law; 1t would
require a Joint resolution, the treasury
department holds
The most extraordinary profiteering
revealed by the report was in food
yiuffs. Producers OF nearly all the
common necessities of life were shown
10 have made enormously increased
profits IN 1917 over 1916. although their
Earnings in 1916 were in numerous
cases far above the 100 per cent mark.
Meat packers profits were shown to
have increased substantially. One
large packer made Sl9OO0,000 more in
5D17 than in 1915.
In the iron and steel ind Istry sensa-
tional profits were disclosed In coal
snd oil profits mounted to unparalleled
bgures. Public utilities of virtually
tfery character also came in for lib
Fral share of the increased prosperity.
Large Profits of Diaries.
Among the dairy concerns large in
ereases of profits were shown. One
company with 100000 capital made
$4,000 In 1917. against $4,000 the
year before. The small dairymen
made the largest percentages Of in
creased profits. one little concern
xlth a capital Of S., 400 made Sl1,Gj9,
IS compared with $1,000 for 1916.
Fruit and vegetable growing indus.
9ry's profits increased considerably
over those for 1916. although they
we're fairly large for that year One
concerns profits were 30 per cent
more for 1917 than for 1916. Concerns
"ith small capital showed the largest
Increases.
Wheat, corn and barley growing was
not 40 profitable according to the re-
inrns. One concern with $425.000 cap
iial lost money
Stock breeding showed substantially
Increased profit in nearly all the CON
germs listed The industry also showed
Fargo profits for the previous year.
One concerns profits were 20 per
cent more n 1917 than In 1916.
A large number of industries listed
as miscellaneous agricultural indus
tries" showed some striklngly large
profits beginning in 1916 and incre0s-
ing rapidly In 1917.
Food Men Gain Riches.
or PIC concerns listed under the cap
SION BREAD and other baking prod
nets profltecring Of an amazing char
acter was shown. For example. one
company capitalized Mt $4,000 in
creased its profits from $4,000 In l01P
20 $4,000 In 1917 Few Of them
showed Increases OF less than 20 per
cent on their capital stock
In the canning industry one com
pany which earned 377 per cent in
1916 earned l,047 per cent in 1917.
Another, capitalized at $4,000. made
$4,000 I'm 1917. against 100000 in
1916. A $4,000 concern which made
$4,000 in 1916 made S142.O In 1917.
The MANUFACTURES Of syrups. molas-
Tes and glucose netted much increased
profit. One company with S350000
capital earned S3G3, 600 In 1917 against
Fl7d,000 in 1916 Ice cream was an
especially big money maker
or more than SEQ -four. feed and
grist mills listed only n few failed 10
show largely Increased profits. One
S25000oo concern made S752. 900 IN
1916 and $1,000 i'm 1917.
There was a general upward rise In
most packing companies profits The
largest concern listed had n capital Of
Sl0000@ unou which tt earned $40
100000 In l9lT against $4,000 600 In
1916.
Startling Profits IN Leather
Leather manufacturers. including the
dealers Ia hides and makers Of boots
pnd shoes and trunks and valiSeS.
made profits in 1916 ana 1877 that are
startling. One shoe manufacturing
coocern with Sfoooooo capital. made
ai3 per cent fin 1916. nut no excess in
1917
scores Of boot and shoe manufac-
turn- coacrrus. whose raritaI was
from 100000 TO SlQ0eo4. made nrl
'he WAY FROM SD TO more haa luo
per COWS .n 1915
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