The Dolores star., 1918-08-23
HUGE PROFITS IN
j. S. INDUSTRIES
Startling Facts Revealed by
Treasury Department.
WORST IS IN F00DSTUFFS
Profiseerins by Producers Of Common
Necessities. Bad Enough in 1916.
Was Enormously Increased In 1917
in Most Instances.

can industry were brought to light
when the treasury department com
pleted It's long g-awaited report ON prof
iteering.
The report covers 800 corpora
tions. the names Of which nre 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
%. 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 II 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 n 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
have increased substantially. One
large packer made $l9.OOO.OOO more in
1917 than In 1916.
In the iron and stee! 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 II Iib-
eral share of the increased prosperity.
Large Profits Of Diaries.
Among the dairy concerns large in
creases Of profits were shown. One
company with $6OO.OOO capital made
S1e6.OO in 1917. against s25.OOO the
made the largest percentages Of in
creased profits. One little concern
with a capital Of s.. 400 made S11, $50,
as compared with $1,000 for 1916.
Fruit and vegetable growing indus
try's profits increased considerably
over those for 1916. although they
were fairly large for that year. One
concerns profits were 24O per cent
more for 1917 than for 1916 Concerns
with small capital showed the lurgest
increases.
Wheat. corn and barley growing was
not so profitable. according to the re-
turns. One concern with $425.OOO 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 $50 per
cent more In 1917 than in 1915.
A large number Of industries listed
tries showed some strkingiy large
profits. beginning in 1916 and increas-
ing rapidly IN 1917.
Food Men Gain Riches.
or PIG concerns listed under the cap.
tion 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 so. 900 in 1916
to 100000 in 1917. Few of them
showed increases Of less than 20 per
tent on their capital stock.
In the canning industry one com
nany which earned 317 per cent in
.316 earned l.O47 per cent in 1917.
Another. capitalized at $1,000. made
S241.tOO in 1917. against SG6.OOO in
1916. 4 $4,000 concern which made
S2!,~O In 1916 made Sl420nO In 1911
The manufacture Of syrups. molas-
ses and glucose netted much increased
profit. One company with $50 900
al
S1T6.OO0 In 1916. Ice cream was an
especially big money maker.
OF more than 500 -four, feed and
grist mills listed only n few failed to
show largely increased profits. One
$2.5O.OOO concern made S7J2. 900 in
1916 and $1.2OO,OOO In 1917.
There was general upward rise in
most packing companies profits. The
largest concern listed had capital OF
100000 600. upon which it earned $40
100000 in 1917, against S3O.OOO,OOO in
1916
Startling Profits in Leather.
Leather manufacturers. including the
dealers in hides, and makers of boots
and shoes and trunks and valises.
made profits In 1916 and 1917 that are
startling. One shoe manufacturing
concern. with s1OOOOOO capital, made
313 per cent In 1916, but no excess in
1917
Scores OF boot and shoe manufnc-
turing concerns. whose capital was
from 100000 to S1.OOO.OOO. made all
the way from 20 to more than 1000
per cent in 1916.
The profits Of the brewers ranged
from 25 to 175 per cent in 1916. and
their excess profits in 1917 were from
to 80 per cent. most OF the large
breweries making an average profit of
AZ to 80 per cent in 1916. and an ex-
cess profit Of 10 per cent in 1917.
The distillers Of whiskies and spir-
its made profits in 1916 that ranged
from Q to S23 per cent, while their ex-