Polk County news. [volume] (Benton, Tenn.) 191?-1983, 1918-08-22
HUGE PROFITS IN
j. S. INDUSTRIES
Startling Facts Revealed by
Treasury Department.
WORST is IN FooDSTUFFS
Profteering by Producers Of Common
Necessities, Bad Enough in 1916,
Was Enormously Increased in 1917
in Most Instances.

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 its lOng-awaited report on prof
iteering.
The report covers 81 500 corpora
tons, 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
~, declared that there was abundant
fuel for the light" in the treasury de-
! partment with regard to protiteering
The treasury department takes the
position that 1t would be a violation
of existing law to make public the
names of corporations and their earn
ings. The senate resolution Is not suf
ticient 10 suspend the law; it would
require joint resolution. the treasury
department holds.
The most extraordinary profiteering
revealed by the report was in food
stuffs. Producers of nearly ali the
common necessities of life were shown
To have made enormously increased
profits in 1917 over 1916 although their
earnings in 1915 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,O000O0 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 a 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
$4,000 in 1917, against $4,000 the
year before. The small dairymen
made the largest percentages of in
creased profits. One little concern
with n capital of s., 400 made $11,659,
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
concern s. profits We're 40 Ser cent
more for 1917 than for 1916. Concerns
with small capital showed the largest
Increases.
Wheat, corn and barley growing was
lot so profitable, according to the re-
urns. One concern with $425,000 cap
tai lost money.
Stock breeding showed substantially
increased profit in nearly all the CON
'erns listed. The industry also showed
arge profits for the previous year. /
)ne concerns profits were 255 per {
ent more in 1917 than in 1916 |
A large number of industries listed
s miscellaneous agricultural indus
ries" showed some strikingly large
rotits, beginning in 1916 and increas-
lg rapidly in 1917. :,
Food Men Gain Riches. =
OF PIG concerns listed under the cap |
on Bread and other baking prod Z
cts DrOfiteering of an amazing char u
cter was shown. For example, one fl
Dmpany capitalized ut $4,000 in
reased its profits from $4,000 in 1916 n
, S1O7 900 in 1917 Few of them !,
1owed increases of less than 20 per p
Ant on their capital stock. i,
In the canning industry one COM
any which earned BIT per cent in h
JIG earned 1,O47 per cent in 1917. le
mother capitalized at $4,000. made 81
$4,000 in 1917. against $4,000 in q,
ZIG. A $4,000 concern which made n
., 900 in 1916 made $4,000 in 1917. ~
The manufacture Of syrups. molas- ot
IS and glucose netted much increased p,
oft. One company with $3.50 900 o,
lpital earned 1868 900 in 1917 against y,
10000 in 1916. Ice cream was an
pecialiy big money maker.
OF more than 800 flour, feed and
list mills listed only few failed to
ow largely increased profits. One y
100000 concern made 1872, 600 in OF
16 and 81 100000 in 1917. To-
There was a general upward rise in III
Dst packing companies profits. The 70
rgest concern listed had capital Of 50
00,0O0.000 upon which 1t earned $40 'i
in 1917, against $3000O,O00 in W.
10 on
Startling Profits in Leather. VI
ne
Leather manufacturers. including the IN,
alers In hides, and makers Of boots
d shoes and trunks and valisPs,
Idle profits in 1916 and 1917 that are
lrting. One shoe manufacturing
ncern. with $1,600,OO0 cnpital, made ~
; per cent In 1916. but no excess in co..
II. va
Scores Of boot and shoe manufac n''
Ing concerns. whose capital was Nv
IN 500 900 to S1.000000. made all we
' WHY from 20 to more than 1000 Oh
: cont in 1916. W
The profits OF the brewers ranged c'l
m - to va per cent In 1916. ana u"
'ir excess profits in 1917 were from
to - per cent. most of the large
worries making an average profit Of
to 30 per cont IN 1915. nnd an ex. wa