Evening journal., 1918-01-24
aim IUR BUSINESS
Shows BIG Increase

CHICAGO, Jan. 2i-Armour and Com
pany's business in the United states In
1917 amounted TO S575, 100000, on which
a net profit OF S2i ,OOOOOO was earned,
acco ding to the firms financial report
made public today. Tho firms busi-
ness in products originating In this
countryside both here and ADJ Oad-
was s500O00OO greater than the world
bus ness OF the Inn in 1916.
Net income was equivalent 10 ii.5
per cent. on invested capital or u per
cent on the capital stock. The prom
from the sale Of meat and other food
products amounted TO 2.2i cents on
each dollar Of sales.
In 1916, Armours total profits were
e20.lO0,OO0-i47 per cent on Investment
and 20 per cent. on capital stock.
J. ogden Armour, In statement ac-
companying the financial report offers
as an explanation for the high Price Of
meat products during the past year. the
fact that live meat animals cost approx
imately 81 per cent. more than they did
the preceding year.
In his summary Mr.. Armour says:
Initiation Of 'Meatless Days, which
we favored. has proven most beneficial.
enabling us 10 meet the unusual de-
mands made upon our facilities. Our
sales department report an estimate Of
the decrease In consumption OF meat
due to meatless days at p per cent,
which saving was more than consumed
In caring for the vast number Of men
in training for our army and navy,
and for orders. received from our AZ
lies.
During the year the Federal Govern
ment has assumed control Of our oper-
ations under the bill creating the
United States Food Administration and
giving Il authority 10 license packing
house operations. Incident thereto we
are now operating under regulations
prescribing and limiting our profits for
the future. We welcome Government
supervision and regulation under exist
ing war conditions, believing that "a
enable US 10 most efficiently DO our
part In the war the close corporation
which we have received from the Food
Administration, Mr. Hoover and his
representative In the meat industry, Mr.
Cotton, enabling them as representing
the Government to appreciate ouI
many complex problems, viii prov,
most beneficial.
ITO insure as far as practicable con-
tinuity Of the operation Of our packing
plants during the war we recently
ag eed at the instance OF the Jnitct
States Commission on Mediation 20 sub
nit all questions arising during tha
time as TO wages and working condt
tions OF our employees to an admins
traitor selected by them for that pur
pose At the present time we have
total OF 81 ,5l6 employees in all branchc.
Of our activities. Our payroll for thu
fiscal year under review totaled $40.
d9.952no.
II believe we may point with par
donable pride 10 the part our o-gani
zation Is playing In the war. We hav,
1893 employees In the service, approXi
mately one-half OF whom enlisted
voluntarily before the draft, and $50
subject 10 call Of those heretofore
called less than twenty were c0mpelle,
10 ask for exemption. in addition w
have gladly furnished many men nov
in civilian service at Washington an,
elsewhere, serving without cost to thl
Government OF the two Liberty Loai
issues our employees, with our aid sub
scribed TO a total OF S2,OO0000 Of bonds
In addition 20 the subscription Of tn
Company itself Of 100000
Armour and Company in It's en-
tirety-every facility it possesses, ever,
bit OF product and every employees a