The sun., 1918-06-30
PR0FITEERING
ON SHAMELESS
SCALE FOUND
Corporations Prey Upon
Public With Avarice, Com
mission Reports.
WAR BURDENS DODGED
Government Price Fixing
Causes Returns of Incred-
ible Amounts.
Special DespateA to Tns sux.

Special DespascA to Tns Sux.
WASHINGTON. June 29.--A report on
war time profitecring sensational in
its revelations was submitted to the
Senate to-day by the Federal Trade
Commission following its investiga-
ton into the operations OF the beef
packing. coal. steel, copper. oil, mill
ing and other industries under war
conditions.
The report leaves no doubt that
under the conditions brought about
since this country entered the war
many industries have yielded profits
SO enormous as to be almost beyond
belief. In the words Of the commits
sion. certain members Of trade have
preyed with shameless avarice upon
consumers"
Declaring that general trade Is In
high state Of prosperity at the present
tima the commission asserts that many
industries are making unusual profits
while others are charged with making
outrageous ones.
Refusal to share In Burdens.
"In an hour Of national service and
self sacrifcs," says the commission.
.proatssring may bs defined not only a.
the taking Of exorbitant profit but should
include a refusal to share In nearing
the burdens Of war in the form Of q re-
duction In profits whom the profits have
been large In pre-War times"
One Of the features Of the report 10
the revelation that the price fixing policy
Of the Fuel Administration. the Food
Administration and the War Industries
Board aimed to get maximum produce
ton while restricting prices In practice
has led to profits in many instances OF
a size evidently never dreamed Of by its
trainers.
In fact the whole price fixing policy
OF the Administration Is criticised as
having produced AN economic situation
which is fraught with hardship to the
consuming public and with ultimate
peril TO the high cost companies through
increasing the power Of their low cost
competitors"
Prof,ts Of the steel industry In 1917
under Government price hxing. 1t Is al.
legged. were nearly half . billion dollars
for the year. Profits Of the Steel Cor
poration alone for the year were ?s.4
per cent. as compared with 1875 per
cent. in 1916. Profits among the cop
PER companies have ranged from ! per
cent to 1o7 per cent. -Four of the prin-
ctpal packing companies made prohts OF
$40, o0O, 900 in three years.
1887 Per Cent. ProAt.
Flour millers exceeded the maximum
margins and ran UP to 50 per cent. on
tho investment. Among the meat pack
ers. who come in for special mention
among the alleged pronteers. Morris q
90 had profits Of 263.7 per cent In one
year
One bituminous coal company made a
profit Of $l.s5 on every ton OF coal It
mined while the people were paying the
higher prices fixed by DR.. Garfield. An
average Of bituminous coal prices showed
a profit Of % cents a ton. as compared
with 10 and Is cents a ton before DR..
Garfield Stabilized" prices. Anthracite
coal profits doubled while the people In
many sections shivered.
THE outstanding revelation which ac-
companied the work of cost finding 10
the heavy profit made by the low cost
concern under governmental fixed
price for the entire country" says the
report.
THE commission has reason to know
that protiteering exists. Much OF 1t Is
due to the advantages taken Of the
necessities Of the time as evidenced in
tho war pressure for heavy production
Some OF it is attributable to inordinate
greed and barefaced fraud"
Denunciation Of Packers.
The report AYERS that manipulations
Of the markets by the meat packers to
harvest unprecedented profts embrace
every device that Is useful to them with
cut regard to law and that the packers
have "preyed upon the public uncon'
sciora bly,"
The report was called for In Senate
resolution asking that the Senate he fur'
rished with all facts. figures data or In
formation in possession OF the commits
SION relative to profiteerfnE which woult
enable Congress to deal with the matter
Just how the remedy 10 to be applied
is prohlematical. There 10 little doub'
that the data will be used by the Senate
as basis for excess profits schedules II
the new tax bill. Action in this regarc
will meet the expressed wishes OF th'
President contained in his statement t.
Congress that ''proiiteer!nE that canno
he got at by the restraints OF conscience
end love OF country can be got At BY
iaXation'
Tha, Congress or the Administration
viii not he content with this. however
q view Of the disclosures made. seem
eertain. Other and more drastic actioi
Continued on StStk Pogo.