The Colorado statesman., 1918-08-24
PROFITS ARE HUGE
M'ADoo's REPORT SHOWS THE
AMAZING SUMS MADE BY
U. S. CORPORATIONS.
FOODSTUFF MEN THE WORST
Producers Of Most OF the Necessities
Of Life and Concerns in Nearly All
Branches OF Industry Branded as
Profiteers.


Washington, Aug. 17-Exorbitant
and amazing profits made In American
industry in 1916 and 1917 are shown
in the report just completed by the
treasury department on 1880 corpo-
rations. The report was prepared in
response to Senator Borah's resolution
adopted last May. The names of the
concerns are withheld.
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 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 ever 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 $19,000,000 more in
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 were shown. One
company with 100000 capital made
sl66,O00 In 1917. against $4,000 the
year before. The small dairymen
made the largest percentages of in
creased profits. One little concern
with capital of $2,4O0 made $3.50,
ss compared with $4,000 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 We're 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 SLOT 900 in 1917. Few of them
showed increases of less than 20 per
cent on their capital stock.
In the canning industry one com
pany which earned 3T7 per cent in
1916 earned 1.047 per cent in 1911.
Another. capitalized at $4,000, made
s241 900 I'm 1917, against $4,000 in
1916. A $4,000 concern which made
$4,000 in 1916 made $4,000 in 1911.
The manufacture of syrups, molas-
ses and glucose netted much increased
profit. One company with $3500OO
capital earned 1868 900 in 1917 against
$4,000 in 1916. Ice cream was an
especially big money maker.
OF more than 800 flour, feed and
grist mills listed only few failed to
show largely increased profits. one
s2.50o,000 concern made $752,00O In
| 1916 and 81 100000 in 1917.
There was II general upward rise in
most packing companies profits. The
largest concern listed had II capital of
500, ,O0O. 900, upon which it earned S49-
100000 in 1917, against $30,000O00 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 81 100000 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 S1000,000, made all
the way from 20 to more than 1000
per cent in 1916.
The profits of the brewers ranged
from p to 175 per cent in 1916, and
their excess profits in 1917 were from
to 30 per cent, most of the large