Republican farmer., 1918-07-05

greed and barefaced fraud" the nounced today in a report sent to The report was submitted in re- sponse to a response to resolution asking the commission to furnish the Senate with all figures and informa ton relative to profiteering in order that steps might be taken to remedy present conditions. Outstanding fea lures of the report, each supported by extensive data, are:
 The heavy profit made by the low cost concern under government fixed price for the whole country.
 The heavy profit made by the meat packers and allied industries, and by the flour millers.
 The trade tendency to insrease and maintain prices against the forces of conscription.
 The report is based on cost finds for the commission of war industries board. the food administration, the fuel administration, and other executive departments, on industrial surveys,a and through enforcement of laws against unfair methods of competition. The products investigated and which the report covers are steel, copper, zinc, nickel. sulphur, lumber, flour, canned milk and canned salmon. Salaries and bonuses paid high officials were also the subject of inquiries.
 Price fixing by the government, the report says. has tended to prevent the market from running away, but at the same time it strengthens the stronger factors in industries in their position, and enriches them by the profits which are without precedent"
 While the price of flour has heeu stabilized by fixing a price for wheat and a maximum margin of profit for flour. the report shows that profits increased from an average of F per cent on the investment for the four years ending June 30, 1916. to nearly 3S per cent. in the year ending June 30, 1917. These profits,' it is said "are indefensible, considering that aa average profit of one mill for six months of the year shows as high aT $2 a barrel" Many millers exceed ed the government maximum for Irofts and to that extent "the profits were larger and in general in fact, were very great"
 The report declares that unprecA- dented profits are shown in survey of the packing industry. In this con nection it is saiI
 Five meat packers, Armour, Swift Morris. Wilson and Cudahy, and their subsidiary and affiliated companies, have monopolistlc control of the meat industry, and are looking out for like domination in other products. Their manipulation of the market embraces every device that is useful to them without regard to law. Their re- ward. expressed in terms of profit reveals that four of these concerns have pocketed in 1915, 1916, 1911, S14O,OOO, 900. However delicate z definition is framed for profiteering, these packers have preyed upon the people unconscionabl bly,"
 InvestiEat Dn in the coal mining in dustry reveals in the opinion of the comm 'ss;on that despite government price fixinG large margins of profit have been made. Ranges in the cost of production in a field having the same maximum prizes has caused some operators to make small mar gins of profit and others large mar
 
 joying the large margin.
 In the oil industry large profits are now made in fuel oils and gasolene the industry being one where the law of slnp1v and demand still operates The operation of this law is held tc be in rar: responsible for the hea7y profits, hut q part of the blame said to be spreading of false reports reg2 rCi n= supplies
 Steel companies madn abrorma profits before the government fixed 2 price for the product. and it is showr that so'ue have since made unusua returns. Profits of the United State' Steel Co are estimated at 2t.9 re, c7nt in 1917. as ocompared with 15t per cclt. in 191f, and 5.2 per cent. il 1915.
 In virtually every O., of the othe industries covered by the r.-.ort it i shown unusually hes-g profits hay, been r, i Q in 'na last few years. Alb norma s.G.er;-. are also shown t have been .4td executive officials.
 These practices contributing in ad dition to profits to higher prices t consumers age noted as failure t ship goods on a rising market or re fusa; to accept goods on a faAin market. commercial bribery, and tn tendency of manufactuders to main