Meade County news., 1918-09-05
HUGE PROFITS IN
j. S. INDUSTRIES
Startling Facts Revealed by
Treasury Department.
WORST is IN FooDsTUFFs
Profiteering by Producers Of Common
Necessities, Bad Enough In 1916,
Was Enormously Increased In 1917
In Most Instances.

Washington, Aug. 17.-Amazing prof
Its in almost every branch Of Ameri-
can industry were brought to light
when the treasury department COM
pleted it's long-awaited report on prof
iteering.
The report covers 31,500 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, in his
revenue address to congress on May
q, declared that there was abundant
fuel for the light" in the treasury de-
partment with regard to prOfiteering.
The treasury department takes the
position that 1t would be violation
of existing law to make public the
names of corporations and their earn
ings The senate resolution is not suf
ficient to suspend the law; 1t would
require joint resolution, the treasury
department holds. ,".
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 made enormously increased
profits in 1917 over 1916, although their
earnings in, 1919 were in numerous
cases far above the 100 per cent mark.
Meat packers profits were shown to
have increased substantially. One
large packer made $19,0OO,000 more in
1917 than in 1916.
In the iron and steel industry sensa-
tional profits were disclosed. In coal
and oil profits mounted to unparalleled
figures. Public utilities of virtually
every character also came in for lib
eral share of the increased prosperity.
Large Profits of Diaries.
Among the dairy concerns large in
creases of profits were shown. One
company with 100000 capital made
$166,000 in 1917, against $25,0O0 the
year before. The small dairymen
made the largest percentages of in
creased profits. One little concern
with a capital of 81, 400 made S11 ,659,
as compared with $4,000 for 1916.
Fruit and vegetable growing indus
try's profits increased considerably
over those for 1916, although they
were fairly large for that year. One
concerns profits were 240 per cent
more for 1917 than for 1916 Concerns
with small capital showed the largest
increose
Wheat, corn and barley growing was
not 80 profitable, according to the re-
turns. One concern with $425,000 cap
ital lost money. T.,
Stock breeding showed substantially
increased profit In nearly all the con-
Germs listed. The industry also showed
large profits for the previous year.
One concerns profits were 255 per
cent more In 1917 than in 1915.
A large number of industries listed
as miscellaneous agricultural indus
tries" showed some strikingly large
profits, beginning in 1916 and lncreas-
Ing rapidly in 1917.
Food Men Gain Riches.
OF PIG concerns listed under the cap
tion Bread and other baking prod
ucts," profiteering of an amazing char
acter was shown. For example, one
company capitalized at $4,000 in
creased its profits from $4,000 in 1915
to 100000 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 1,047 per cent in 1917.
Another, capitalized at $4,000. made
$247, 900 In 1917, against $4,000 in
1915. A $4,000 concern which made
$4,000 in 1915 made $4,000 In 1917.
The manufacture of syrups, molas-
ses and glucose netted much increased
profit One company with $350000
capital earned $363, 900 in 1917 against
$176,000 in 1915. Ice cream was an
especially big money maker.
OF more than 500 flour, feed and
grist mills listed only few failed to
show largely increased profits. One
$2,500000 concern made $752,OO0 in
1915 and $1,200,000 in 1917.
There was general upward rise in
most packing companies profits. The
largest concern listed had capital Of
500. 100000, upon which 1t earned $49,-
100000 in 1917, against $3O,OOOOO0 in
1915.
Startling Profits In Leather.
Leather manufacturers. including the
dealers in hides, and makers Of boots
and shoes and trunks and valises.
made profits in 1915 and 1917 that are
startling. One shoe manufacturing
concern. with $1,OOOOOO capital, made
313 per cent In 1915, but no excess in
1917.
Scores Of boot and shoe manufac-
turing concerns. whose capital was
from 100000 to $1.000.O00, made all
the way from 20 to more than 1000
per cent In 1915.
The profits Of the brewers ranged
from 25 to l75 per cent in 1915, and
their excess profits in 1917 were from
5 to 80 per cent, most of the large
breweries making an average profit Of
42 to so per cent In 1916. and an ex-
cess profit Of 10 per cent In 1917.
The distlllers Of WHISTLES and epir-