The Ordway new era., 1918-08-23
IS
Barred BY REPORT
Treasury Department Tells How
the American Public Has
Been Made to Pay.
Big INCREASES over 1916
Producers Of Foodstuffs Made the Most
Enormous Profits, and Nearly Every
Other Branch of Industry Piled UP
Huge Riches.

Washington, Aug. 1.-THE treasury
departments report on profiteering,
Just completed in response to senate
resolution and covering 81 500 corpo-
rations, reveals the fact that aston
ishing profits have been made in al
most every branch of industry In
America in 1916 and 1917. The names
of the concerns are not made public.
The treasury department takes the
position that 1t would be violation
Of existing law to make public the
names of corporations and their earn
ings. The senate resolution is not suf-
ficient to suspend the law; 1t would
require 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 1916, although their
earnings in 1916 We're in numerous
cases far above the 100 per cent mark.
Meat packers profits were shown to
have increased substantially. One
|
1917 than in 1916.
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 lib
eral share of the increased prosperity.
Large Profits of Diaries.
Among the dairy concerns large in
creases of profits We're shown. One
company with 100000 capital made
| $166,O00 in 1917, against $4,000 the
year before. The small dairymen
made the largest percentages of in
creased profits, One little concern
with a capital of S2,400 made S11 .659,
as compared with $4,000 for 1916.
Fruit and vegetable growing indus
| try's profits increased considerably
over those for 1915, although they
| were fairly large for that year. One
concerns profits were 240 per cent
| more for 1917 than for 1916. Concerns
with small capital showed the largest
increases.
Wheat, corn and barley growing was
not so 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 1916.
A large number of industries listed
as miscellaneous agricultural indus
tries" showed some strikingly large
profits, beginning in 1916 and increas-
ing rapidly in 1917.
Food Men Gain Riches.
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 $4,000 in 1916
to S1O7,0OO in 1917. Few of them
showed increases of less than 20 per
cent on their capital stock.
In the canning industry one COM
pnny which earned 377 per cent in
1916 earned 1,047 per cent In 1917.
Another. capitalized at $4,000. made
$247 900 in 1917, against $4,000 in
1916. A $4,000 concern which made
$25. 900 in 1916 made $4,000 In 1917.
The manufacture of syrups, molas-
ses and glucose netted much increased
profit. One company with S350,OO0
capital earned S363, 900 in 1917 against
$4,000 in 1916. Ice cream was an
especially big money maker.
OF more than 500 flour. feed and
grist mills listed only few failed to
show largely increased profits. One
SO, 100000 concern made S752,OO0 in
1916 and 81 100000 in 1917.
There was general upward rise in
most packing companies profits. The
largest concern listed had capital of
500. 600, 900. upon which 1t earned S49,-
600, 900 in 1917. against s30,00O,OO0 In
1916.
Startling Profits In Leather.
Leather manufacturers. including the
dealers in hides, and makers of boots
and shoes and trunks and vnlises,
made profits in 1916 and 1917 that are
startling. One shoe manufacturing
concern with S1,OOO,OOO capital. made
313 per cent In 1916, but no excess in
1917.
Scores of boot and shoe manufac-
turing concerns, whose capital was
from 100000 to S1,0000OO. made all
the way from 20 to more than 1000
per cent in 1916.