The Elk Mountain pilot., 1918-08-22
HUGE PROFITS IN
j. S. INDUSTRIES
Startling Facts Revealed by
Treasury Department.
WORST IS IN FooDsTuFFs
Profiteerinu 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 its long-awaited report on prof
iteering. @
The report covers 81 200 corpora
tions. 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 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; it would
require a joint resolution, the treasury
department holds.
The most extraordinary profteering
revealed by the report was In food
stuffs. Producers of nearly all the
common necessities of life We're shown
to have made enormously increased
profits In 1917 over 1916 although their
earnings in 1916 were in numerous
Meat packers profits were shown to
have increased substantially. One
large packer made S19,0OO,OO0 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 n 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 $6OOOOO capital made
100000 in 1917, against $4,000 the
year before. The small dairymen
creased profits. One little concern
with u capital OF 81, 400 made S11.659,
As compared with $4,000 for 1915.
Fruit and vegetable growing indus
try's pronts increased considerably
over those for 1916. although they
were fairly large for that year. One
concerns profits were 240 per cent
more for 1917 than for 1915. Concerns
with small capital showed the largest
Increases.
Wheat, corn and barley growing was
not 30 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 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 1915 and increas-
ing rapidly in 1917.
- Food Men Gain Riches.
OF 216 concerns listed under the cap
tiOn Bread and other baking prod
ucts," profiteerinR OF an amazing char
acter was shown. For example. one
company capitalized Mt $4,000 in
creased its profits from $4,000 in 1916
to 100000 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.OO0 In 1917, against S66OOO in
1916. A 100000 concern which made
$25. 600 in 1916 made S142 2OOO, in 1917.
The manufacture of syrups, molas-
ses and glucose netted much increased
profit. One company with S35O,OOO
capital earned S363OOO in 1917 against
$4,000 in 1916. Ice cream was an
especially big money maker.
OF more than 500 -four, feed and
grist mills listed only few failed TO
show largely increased profits. One
81. 100000 concern made S752 600 in
1915 and 81 100000 in 1917.
There was general upward rise in
most packing companies profits. The
largest concern listed had capital Of
500. 900. upon which II earned S49.-
OOO.OOO in 1917, against $3O,OOOOOO 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 manufacture
concern. with s1.OOO.OOO capital made
313 per cent in 1916, but no excess In
1917.
Scores OF boot and shoe mnnufnc-
turing concerns, whose capital was
from 100000 to S1.OOO.O 600 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 DrofitS in 1917 were from
3 to so per cent, most of the large
breweries making an average profit of
40 to 80 per cent in 1916. and an ex-
cess. profit Of 10 per cent in 1917.
The distilIers OF Whistles and spir-