New Iberia enterprise and independent observer. (New Iberia, La.) 1902-1944, 1918-05-18
Investigation of Meat Trust Exposes
Extortion and Hastens Public Control.

our boys in camp and France, Cos
sip had it., and although undoubt-
edly false, the stories spread.
President Wilson, exhausting a
patience that is only human, then
directed the Federal Trade Com
mission ito investigate and re-
port the facts relating to the pro-
duction, ownership. manufacture,
storage and distribution of food
stuffs, and the products and by
products arising from and in con
nection with their preparation
and manufacture to ascertain the
facts bearing on alleged violations
of the antitrust acts, and partic-
ularly upon the question whether
there are manipulations. controls,
trusts, combinations, conspiracieS,
or restraints of trade out Of har-
mony with the law or the public
interests"
This investigation is just be-
ing completed and the findings Of
the commission will be announced
shortly. Representative Doolit
tie, Of Kansas, began the cry for
the investigation in Congress. 1t
will end with the entire industry
being taken over by the people
for the people.
Many were the iniquities on the
part of the packers that were I'M
earthed by Francis j. Heney,
special counsel for the Federal
Trade Commission.
Let us take up a few of them.
No. 1. No one owns the stock
yards.
Who owns the blamed thing,
anyway? No one seems to know.
and although Mr.. Armour adj
mitted, days after the investiga-
ton began, that he owned 10 per
cent Of the stock of the holding
company. 81 per cent Of the stock
is either lost, strayed or stolen.
1t is tricky. This is how it was
done:
The Chicago stock yards and
the railway leading to and in it
sports the dignified name of the
Union Stock Yard and Transit
Company and was Incorporated
under the laws of the State Of
illinois with a capital stock Of |
s15, 200, 900 common stock, all of
which is issued and outstanding.
No preferred stock has ever been
issued. The Union Company ope-
rates the 568 acres Of land which !
go to make the Chicago stock
yards.
All the stock of the Union
Stock Yard and Transit Company
Of Illinois is owned by the Chi
cago Junction Railways and I'm
ion Stock Yards Company of New
Jersey. This is a holding COM
pany with a capital stock of $13,-
BOO, 900. half preferred and half
common.
The majority Of the common
stock of the Chicago Junction
Railways and the Union Stock
Y ards Company Of New JERSEY is
owned by the Chicago Stock
Yards Company of Maine.
Armour owns 10 per cent of the
stock of the Chicago Stock Yards
Company Of Maine. Who owns
The 81 per cent? The govern
nent's trained investigators have
been trying to find out for weeks,
and have failed.
The Main Company started
with 81 100000 cash in its treas
Try. This seemed to be a useless
waste of money, so it was all bor-
rowed out by Armour without
interest. II
The stock is in the form of
bearers certificates with the
,wner's name not filled in. This
$ the oldest trick in the Job
'ing stock" business and one
which has been relegated to the
past by respectable Wall Street
crooks. No one owns this 81 per
cent Of the stock, no one has it
md it isn't in the treasury. 1t
vas first taken out by a clerk in
he Office of Prince and Company
# Boston. friends" of Armour.
But this clerk no longer has it
nd he doesn't know what has be-
ONE Of it. What is more. he
lever saw it.
But he is still related to the
Iaine corporation. When this