The Elbert County tribune. [volume] (Elbert, Elbert County, Colo.) 18??-1920, 1918-08-23
HUGE PROFITS IN
U. S. INDUSTRIES
Startling Facts Revealed by
Treasury Department.
WORST is IN FooDsTuFFs
Profiteerins by Producers of Common
Necessities, Fad Enough in 1916.
Was Enormously Increased in 1917
in Most Instances.

= y
can industry were brought to light
when the treasury department COM
pleted its long report on prof
iteering.
The report covers 81 800 corpora
tons. the names of which are with
held. 1t was prepared in response to
the Borah resolution, adopted by the
senate after President Wilson, in his
revenue address TO congress on May
27, declared that there was abundant
fuel for the light' in the>treasury de-
partment with regard TO profiteering.
The treasury department takes the
position that 1t would be a violation
of existing law to make public the
names of corporations and their earn
ings. The senate resolution is not suf-
fcient 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 were In numerous
cases far above the 100 per cent mark.
Meat packers profits were shown to
nave increased substantially. One
large packer made $l9,OOO,0OO more in
1917 than in 1916.
In the iron and steel industry sensa-
honai profits were disclosed. In coal
and oil profits mounted to unparalleled
hgures. 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
crehses OF profits were shown. One
company with S6oo,ooo capital made
S1o6ooO in 1917. against $4,000 the
year before Inc small dairymen
,e ia ses' pei'en'ascS vi IN
- po ne "''e CONCERN
ap',ai y, $3.50 w. n,""e sli'oo''
A' s''000 ioi ioio'
mn 'ese'ao'e sro"ihe ihuus-
W pon" increased cohs'ueraoiy
oper .hose ior 1910 ai,housh thes
AAs' ioi ''ia' year one
~ p'on.e "ee 1o per cent
-. ,,,aa io' i'io' Sohcerhs
80 an'' '"p''si sho"eu the iarsest
No." anu paiies growing was
NJ 81 pioh'aoie' according 10 the re-
.uihS ohe concern Win s41o'ooV cap
''". 'osl money
SWIM oieeulng showed SUBSTANTIALLY
me- eaneu prom. IN nearly all the con-
.e'n' hS'eu. Inc INDUSTRY also showed
ihrse pronts Tor the previous year.
one concern pronts were zoo per
'ene more IN iei' than IN 1915.
large number OF industries listed
ms nhiscehaheous agricultural indus
'ries showed some strikngly large
prohts' beginning IN 1916 and increas-
ing rapidly In 1917.
Food Men Gain Riches.
OF PIG 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 Mt 1000 In.
creased its profits from $4,000 in 1916
~ %io.' ooo IN loif Few of them
showed increases OF less than 20 per
cen, on their capital STOCK.
IN ,he canning industry one com
Pahy Which earnea 3Fi per cent in
1915 earned l.o47 per cent In 1917.
Another' capitalized at $4,000. made
s24hooo In 1917, against $4,000 in
I9lo. S'o'oou concern which made
S%o,ooo IN 1918 made Sl42,O0o in 1917.
Inc manufacture OF syrups, molas-
ses ana glucose netted much increased
pront. one company with S350.00O
pHTnnn n I'm