New-York tribune., 1918-06-30

ferent stages Of the oil industry diff
ferent products of petroleum have
yielded Che heavy profits. Kerosene WAS
once the chief profit producer. Gaso-
lene followed and superseded it as
the chief producer of profits. Enormous
with the advantage to the refner that
the high price of that product meets no
popular challenge. Gasolene Is main
tained at It's present high price and
produces heavy profits for the low-cost
refiners."
In this part of the report the meat
packers are scored as follows:
"Similarly the power of dominant
factors in given industry in maintain
ing high prices and harvesting unprece..
dented profits is shown In survey of
the meat packing situation. Five meat
packers-Arm5ur, Swift, Morris, Will
son and Cudahy, and their subsidiary
and affiliated companies-have monopo-
listic control Of the meat industry and
are reaching for like domination in
other products. Their manipulations
of the market embrace every device
that is useful to them, without regard
to law. Their reward, expressed in
terms of profit. reveals that four of
these concerns have pocketed in 1915,
1916 and 1917 $140, 100000.
"However delicate definition is
framed for 'proiiteering,' these packers
have preyed upon the people uncon-
scionably. They are soon to come un-
der further governmental regulation
approved by executive order"
Cost Account Juggling
Cost account juggling in cases where
the government fixes a definite margin
of profit "has added to the volume of
unusual profits. An instance of this
practice was, afforded by the Ismeyt-
Hincke Milling Company, of Kansas
City, Mo. This company padded it's
costs by heavily increasing all its off
GERS salaries and manipulating the in
ventory value of flour bags on hand.
AS evidence of the length to which pad
ding can be carried, it may be added
that this company even included in its
costs the gift of an automobile, which
1T charged to advertising expense. This
case was heard by the commission for
the food administration. The commits
sion recommended revocation of license
and the recommendation was followed"
In reviewing various trade practices
which it finds Objectionable, the com
mission gives the American Metal Com
pany, of New York, black mark that
profiteer. This company is cited as an
example "of high remuneration charged
to expense account. Some Of the sala-
ries and tantieme (French for an inter
est, commission or proportional amount)
are given as follows:
R Hochschild 81 Broadway,
New York. chairman
board of directors. ..... SITS, ,663.56
c.. M. Loeb, 61 Broadway,
New York, president. ..... 364,326.73
Otto Sussman, 81 Broadway,
New York, vice-president,
chief mining department. 221 ,596.04
j. Loeb, 81 Broadway, New
York, vice president, chief
sales department ........ 147,sao.es
T. Sternfcld, 1926 West Sew
enty-fourtl. Street, New
York, director and treas
urer to June 80, 1917... 86,342.90
Benry Bruere, 81 Broadway,
New York, vice-president 82,810.23
Julian B. Beatty, 81 Broad
way, New York, director
and treasurer since June
80, 1917 ..:::............ 77,71o.2a
Fl K. Hochschild, 81 Broad
way, New York, vice-presi-
dent, chief South Ameri-
can department ....... 51,S1o.23
H. V. Putzel, 81 Broadway,
New York, director and
chief of zinc ore depart
ment ................. 52,510.23
NJ. Rocs, e1 Broadway, New
York, cashier and custod-
ian of securities ...... 79,O65.35
S. Adler, 81 Broadway, New
York, CHIEF auditor and ac-