The Topeka state journal. [volume] (Topeka, Kansas) 1892-1980, 1918-08-29
SOME FRIGHTENING.

cent, as contemplated In the new reVe-
nue. bill, will not be exorbitant, one
need only to study the report on prof
iteering just made public in Washing
ton to prove. In this report which
Secretary McAdoo has prepared for
congress, the story of amazing, we'll
nigh universal. profiteering is re-
veaIed. The report covers 1880 cor
porations whose names are withheld
for the present. Hardly one line of
| industry escapes the charge. Dealers
IN foodstuffs and banking institutions
nre accused; also dairymen, laun-
dries. packers, steel men. brewers. cot
ton manufacturers, garment workers,
grocers, tobacco dealers, mine opera
tors, oil producers and distributors,
automobile makers. boot and shoe
men, jewellers, ice cream makers; In
fact, every conceivable trade and in
dustry supplying the needs of daily
life and daily existence. A few fig
ures cleaned from the report by the
Investment News are here submitted.
The most extraordinary profiteer-
ing revealed by the report was in
foodstuffs. One meat packer made
$40, 700, 900 more in 1917 than in 1916.
Food dealers and food manufacturers
have helped themselves literally from
the nations pocketbook. OF 21s con-
Germs listed under the caption:
Bread and other baking products"
the profiteering was of an amazing
character. One company capitalized
| at $40, 900 made profits of 100000 in
1917 against $4,000 in 1915. This is
nearly 900 per cent on the capital
stocl:-after paying what were prob
ably handsome salaries-and few
companies showed less than 20 per
cent increases on their normal profits.
OF more than 500 flour. feed and
srist mills. cases where profits jumped
more than 100 per cent were too nu-
merous to mention. One concern
which made $752.O0O profits in 1915
on a capital of s2,5OO.oOO in 1917
made s1,200.000. Another capitalized
NJ s2.145,00O jumped its profits from
SS05. 900 in 1916 to s1.462,O0o in 1917
Still another with a capital of only
$4,000 made $4,000 in 1917 or S45
Ter cent more on it's capital stock than
in 1915.
| In canning. one company which
earned 377 per cent in 1915, jumped
its profits in 1917 to 1.o47 per cent. A
$4,000 concern which made $4,000
in 1915 managed to make $4,000 in
1917.
In the commodities sid leather
manufacturers, including dealers in
hides and makers of boots and shoes
and trunks and valises, made profits
in 1915 and 1917 that are simply as
founding One shoe manufacturing
concern with s1.0OO,OO0 capital made
S1S per cent profit in 1915; others
made from 81 to So per cent profit.
Scores of boot and shoe concerns
whose capital was from 100000 to
100000 made all the way from 20
to more than 1000 per cent
The clothing and dry goods mer-
chants, including department stores,
showed profits for 1917 in excess OF
those for 1916 as high as 1911 per cent
on the capital stock. The cotton man.
ufacturers made profits ranging from
IL to 200 per cent in 1915 with an ex-
cess profit in 1917 of from II to 40
per cent The wooden and silk man.
ufacturers made from rs to SIS per
cent in 1915 and an excess of from
10 to 40 per Cent in 1917.
All the garment manufa cturer<
made gigantic profits IN 1917, the ex-
cess showing 5 to SIS per cent owe,
1916, which were in that year % tc
rs per cent on the capitaI stool,
Small garment manufa cturers showed
profits as high as 1876 per cent ir
1915, and excess profits as high a,
700 in 1917.
In furniture profits as high as $50
per cent were made, and a coffir
actory did not hesitate to tax the
dead in 1915, its profits running thai
year as high as 357 per cent.
/ Most OF the retail grocers followed
the footsteps of the leaders" They
made profits ranging from 20 per cen
to 1873 per cent, the average in 1911
being SO to 200 per cent.
Retail dealers in tobacco made
profits as high as s,176 pen cent, th'
average in 1916 being 80 per cent
These 1915 profits were doubled IL
1917.
And so proceeds a list too long 4
be reprinted but telling a similar stor!
thruout. The policy appears to be Il
add about 81 in profits to goods han
died for every additional dollar IL
first cost.