The state herald., 1918-08-23
HUGE PROFITS IN
]. S. INDUSTRIES
Startling Facts Revealed by
Treasury Department.
WORST is IN FooDs1uFFs
Prohteerlns by Producers Of Common
Necessities, Bad Enough In 1915,
Was Enormously Increased In 1917
In Most Instances.

- AZ utmOok VNCiy DiuhNh Va hhANAs
can industry were brought to light
when the treasury department COM
pleted its long-awaited report on prof
lteering.
The report covers s1.b0O corpora
lions, the names Of which are with
held. It 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 proHteering.
The treasury department takes the
position that 1t would be 4 violation
Of existing law to make public the
names Of corporations and their earn
ings. Tho senate resolution II not suf-
ncient to suspend the law; 1t would
require q 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 1915. 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 $19,000OOO more In
1917 than In 1918.
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 n lib
efal share Of the increased prosperity.
Large Profits Of palrIes.
Among the dairy concerns large In
sreases of profits were shown. One
company with 100000 capital made
eloo.0 in 1917. against $4,000 the
year before. The small dairymen
made the largest percentages of In
creased profits. One little concern
with Q capital Of $2.400 made 81. ESQ.
- compared With 1900 for 1915.
Fruit and vegetable growing indus
tvs prodts increased considerably
ever thoss for 1915. although they
were fairly large for that year. One
concerns profits were 240 per cent
more for 1917 than for 1910. Concerns
With small capital showed the largest
iacrsasea
Wheat, corn and barley growing was
not % profitable. according to the re-
turns. One concern with &425. 900 cap
ital lost money.
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 1910.
A large number Of industries listed
- miscellaneous agricultural indus
t1iss" showed some striklngiy large
profits, beginning In 1915 and increas-
ing rapidly In 1917.
Food Men Gain Riehsa
OF 216 concerns listed under the cap
ton 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 $50. 900 In 1910
to SLOT 900 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 877 per cent In
1915 earned l.o47 per cent In 1917.
Another. capitalized at sos. 900. made
e2l7.00o In 1917. ssainst s66.0O0 In
1915. A $4,000 concern which made
e2o.000 IN 1915 made SIC. 900 In 1917.
The manufacture Of syrups. molas-
~ and glucose nettcd much increased
profit. One company with s35O.00o
capital earned s303. 900 In 1917 against
el7e0o0 In 1919. Ice crcnm was an
especially big money maker.
OF more than 800 -four, feed and
grist mills listed only 4 few failed to
show largely increased profits. One
e2.b00.0oo concern made s752.000 In
1915 and 81 200. 900 In 1917.
There was q general upward rise IN
most packing companies' profits. The
largest concern listed had n capital OF
el0o0 o00o. 900. upon which II cnrncd $40.
00o 900 In 1917. agninst $4,000. 900 In
1910.
Startling Profits In Leather
Leather manufacturers. Including the
dealers In hides. md makers OF boots
and shoes md trunks md vniIscs,
made profits In 1910 nnd 1917 TINT nre
startling. One shoe manufacturing
concern. with s1.000.00o cnpltni. mnde
8i3 per cent In 1910. but no excess In
1917.
Scores Of boot and shoe mnnufac-
turing concerns. whose cnpitni wns
from 100000 TO si.00O.OOo. mndc MI
the way from 20 TO more thnn 1000
per cent In 1915.
The profits Of the brewers ranged
from 25 TO 17B per cent In 1910. and
their excess profits In 1917 were from
to 90 per cent most OF the large
brswerics making m average profit Of
- 10 30 per cent In 1910. and m ex.
cess profit Of 10 per cent In 1917.