South Bend news-times. (South Bend, Ind.) 1913-1938, 1918-07-10

than they him. and st make money; it isn't the
large profits but the number Of we SELL he said
that counts" with the beef barons:
we wish il we're possible interest YOU
i'm the details Of our business; OF how for in
stance we can sell dressed beef fot less than
the cost Of the live animal. owing to utiliza
ton OF by-products methods Of dis
trbution."
Isn't that fine such philanthropy. We quote II from
their advertisement stock is quoted today seven
to ten cents for beef and Is 16 for hogson hoot
A 600 pound prime steer. brings $780, 80 hos
$3.50 That is what the That 1000 pound
steer will dress approximately 500 lbs and pay all
the way from As pound for it at the meat
market average about 80 cents16 Of which is the re-
tafers gross profit bone grissle ETC.
while the remainder OF % the packer for
meat bone grisse everything else that goes with
dressed carcass.
These are rough figures but they show profit in
the dressed entire Of the live beef
and the packer still has these much mooted by-Pro-
ducts: hoof horn bone hide. blood and bel
low every which utilized, according to ad
missions-to pay the entire cost of operation; over
head labor transportation expansion depreciation in
surance commissions interest, dividends and rents.
Too bad that beef are not all by-products, and the
hog question runs the same all OF which is in
teresting especially when pointed ou by the Trade
commission that the packers themselves raise ana
herd most Of the livestock through subsidiary compa-
mics themselves through other subsidiaries
al price much above that paid direct the producer
The trouble packers that the Federal Trade
commission got under hides and their in
aation Of prices paid for live stock
dressed carcasses by dealing through themselves.
They call it buying selling in the market,
but indirectly, they their own buyers, frequently
of themselves indirectly. producers, and then di-
rectly they buy from themselves indirectly their in
prohting that packers they
pay of the price paid the producers 1t is the
old "frenzied finance" process of wheel within a
wheel process of apparently keeping profits by
showing them up.
Frankly we are not assuming that the entire high
cost or all the prohteering in meats. between Mr..
Stockraiser Mr.. Ultimate Consumer into the
pockets Of the packers For Mr. Retailer. you know.
paying straight for the dressed
carcass adds Of 10 cents for dsposng of it,
and the most of them keep aeshy if they don't
grow financially fat. Perhaps they figure their profits
like the packers do; as making nothing where they
put il back into the business Were The News-Times to
make enough money in a year build a build
ing install entirely outfit and increase the value
200 percent suppose that because that
200 percent not paid cut in dividends it might
as we'll not have been made-but perish the thought
Newspapers have a way of not making anything that
is more real.
Take bank with million capitalization Instead OF
paying dividends builds up surplus of two million
The packers believe that stock is still worth
only million, but if you compute dividends
on it they would ask you TO compute it on the three
million so that the rate would be lower and the profits
pparently "boneheads back here In the woods
are supposed fall such stuff and like it, 1t is
absolute parallel criticism of the Federal Trade
commissions report.
/ All yes. They the packers, deny that the large
packers have MONOPOLY They are in keen competi-
ton other" they say. and have power
manipulate prices" Excellent! We glad to hear
it, but we notice that they making common cause
and cooperating spenddly in mutual defense against
Trade commission. 50 they be on
speaking terms anyhow IF you business man.
they say there's your chance out with your chest
Mr. Business Man OF course you will appreciate the
significance of these facts" else how you be a
business man? Messrs Armour Cudahy, Morris. Swift
! 4 Wilson-hath spoken.
/ -----