El Paso herald. (El Paso, Tex.) 1901-1931, 1919-07-11
EXTENT AND GROWTH Of POWER
of DIG 5" PACKERS PICTURED
These Concerns Report Declares Weld the Controlling
Interest in 574 Companies; Startling Invasion by
Packers of Related and Unrelated Industries AL
legged; Control Of Meat Substitutes Sought, Said.

ors in banks affiliated closely with
those who are strong at the source OF
credit in the United States. Being thus
allied with the powerful interests al
tle sources of credit, the packers
mower is great. not only for financing
their own national and international
operations. but for affecting for good
or for i'll, the credit Of cattle pro-
ducers and Of competitors or custom
ers in any line"
After reviewing the interest of the
packers in the leather. fertilizer, cot
tonseed oil. grain and breakfast food
industries, the report said:
..The reason svny the packers
are seeking control OF the subsfi-
tutes for meat-the foods that
compete with menfs-are obvious.
II the prices of substitutes for
meats are once brought under
packer control, the consumer Will
have little TO gain in turning TO
them for relief from excessive
meat prices
Judged conservatively by trade es-
Inmates. the big five handle at least
half OF the poultry. eggs and cheese
in the main channels OF interstate
commerce.
Recently the big packers began
dealing IN various staple groceries
and vegeta bles. such as rice, potatoes,
beans and coffee. and increased their
sales at such a rate that in certain
lines they have become factors OF
greet moment"
Referring TO the packers activities
in South America. the report said that
from establishment OF a single plant
in Argentina in 1907 by Swift and
company. the business OF the Ameri-
can packers, Swift Armour. Morris
and Wilson. had developed in 1917 un-
til for that year they exported 5I-4
percent Of all exports Of frozen and
chilled beef quarters from Argentina
and Uruguay
Louis F. swift Comments.
Chicago. Ill, July 1I-Louis F
Swift. president of Swift and COM
pany. today declared that the latest
report OF the federal trade commission
contained no new facts and was an
evident effort TO Influence at this time
proposed radical legislation Mr.
Swift said:
This latest report of the federal
trade commission is merely an attack
upon large and successful business Or
CARNATIONS and should be resented by
Industrial progress of the nation It
contains nothing new and is an out
growth Of the former discredited
Heney ex parte investigation This
report, so far as I an informed. con-
tains absolutely no evidence Of COL
fusion among the i've largest PACK
ers, and 1 say for Swift and company,
as I have said many times. that We
have no agreement Of any kind with
any other packer 10 affect the prices
Of livestock or meats The manner in
which the trade commission juggles
figures and resorts 70 sensationalism
betrays the insincerity of the com
mission We are living up to both
he spirit and the letter Of the law
and with the government in every
helpful and constructive way. but We
must protest against the methods used
by this important branch Of the gov
eminent 7 say that the large pack /
ars and their individual businesses
ire a public benefit and a decided :
actor in keeping down the spread be- I
tween live stock and meat prices.
Calls Report Propaganda.
This report is put out now as a I