Vernon County censor. [volume] (Viroqua, Wis.) 1865-1955, 1918-09-04
HUGE PROFITS IN
i. s. INDUSTRIES
Startling Facts Revealed by
Treasury Department.
WORST is IN FooDsTUFFs
Profiteering by Producers Of Common
Necessities, Bad Enough in 1916,
Was Enormously Increased in 1917
in Most Instances.

Washington, Aug. 17.-Amazing prof
its in almost every branch of Ameri-
can industry were brought TO light
when the treasury department COM
pleted its long-awaited report on prof
iteering.
The report covers 800 corpora
lions. the names of whith are with
held. II was prepared in response 10
the Borah resolution. adopted by the
senate after President Wilson. in his
revenue address to congress on May
q, 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 a violation
of existing law to make public the
names of corporations and their earn
ings. The senate resolution Is not suf-
ticient to suspend the law; it 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 1915 were in numerous
cases far above the 100 per cent mark.
Meat packers profits were shown to
have increased substantially. One
large packer made $19OO0O0O 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 a 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
100000 in 1917, against $4,000 the
year before. The small dairymen
made the largest percentages of in
creased profits. One little concern
with a capital of S2.4OO made $11 .659,
as 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 were 240 per cent
more for 1917 than for 1916. Concerns
with small capital showed the largest
increases.
Wheat corr and barley growing was
not so profitable. according TO the re-
turns. C.e concern with S425, 900 cap
ltal 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.
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 PIG concerns listed under the cap
ton BREAD and other baking prod
ucts," prOf1teering 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 100000 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 377 per cent IN
1916 earned 1.047 per cent in 1917.
Another, capitalized at 500. 900. made
S247000 in 1917, against $4,000 in
1916. A $4,000 concern which made
$4,000 In 1916 made $1,000 in 1917.
The manufacture Of syrups. molas-
SEES and glucose Melted much increased
profit. One company with S3J0,0O0
capital earned s363000 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 faileC 20
show largely increased profits. One
S2,500000 concern made $7J2, 600 in
1916 and S1.2O0.OOo 10 1917.
There was a general upward rise In
most packing companies profits. The
largest concern listed had a capital of
S100,000.000. upon which ii earned S49.-
100000 in 1917, against 100000 in
1916.
Startling Profits In Leather.