Arizona republican., 1919-12-19
THE ARIZONA REPUBLICAN, FRIDAY MORNING. 1919

of the 50 market stockyasds in the United States.
 PaImer's Charges
 Theparent companies have availed themselves of the control so acquired by them in the stockyards aforesaid to elect the officers and directors ol said stockyards and to dominate and control the policies thereof. They have granted exclusive privileges, such as the right to purchase dead animals, the right to furnish supplies and fla cilities, and the location of cattle banks and cattle loan companies, to concerns and corporations in which they, or some of them, or individuals who are stockholders in said parent companies, hold the controlling stock, all of which has. been done with the intent and purpose and has had the effect of discouraging and expressing the establishment of independent packing establishments and dwarfing thme growth of such independent companies which then might be in ex- fstence. to enable said parent compa- nies, their, subsidiaries, or the indi- viduals who own and control the par ent companies and their subsidiaries to obtain vast profits from the man agements of the stockyards and the granting of the privileges appurtenanu thereto, which pfofits are realized not only upon the livestock purchased by the packers, but upon that purchas sed by their competitors. and have thus enabled them to enjoy and realize such profits without the same appearing O. being disclosed in the profits of the parent companies; and otherwise to further the attempt of said parent companies to monopoliZe the meat in- dustry of the country, and artificially control the ultimate price which the consumer pays for meat and meat pro- ducts.
 "The Investigation demonstrated that even with a practical monopoly of the supplies of meat in the country, the prices could not be controlled by the defendants without the control of sub- stitute foods. To accomplish this pur- pose the defendants availed them selves of the advantages at hand in the auto trucks, route cars, branch houses and storage warehouses owned or controlled by them. The control was extensively and rapidly increasing. Yearly great numbers of competitors abandoned the contest and quit busi- ness or sold out to the parent corpora tions or their subsidiaries. Unless pre- vented ythis decree, the defendants few years, controlled the- quatnity una price of practically every article of food found on the American table. Made Huge Growth.
 m the 10 years rom lSO4 to 1JlJ, Swift and company, Armour ana com parfY, Wilson and company, Inc. and the Cudahy Packing company, accord ' ing to their financial reports, grew from a net worth of approximately $92, 000, 900 to a net worth of appr Jxi- mately s479, 100000, but in this same period they paid in cash dividends s105. .00o. .000. Only SS9.000, 900 of their in- creased worth was represented in capi- tai Though always asserting a very low rate--of profit on sales the five parent companies have grown so rap idly that their combined net profit for 1919 has equaled nearly the amount of their total sales in 1904. The sales themselves in Is years have increased until, for the fiscal year 1918. they reached the vast sum of $3,200, DOC, 900 This was realized from meats, sub- stitute foods and unrelated lines. as herein above set forth. In stating these of profits and sales to the parent com panies ard subsidiaries included by them upon their books. No account has been taken of the many corpo- rations which are owned or controlled by the same family, or financial inter ests as own or control the parent com panies.
 Tn addition to these profits. there have been other vast profits, difficult O. ascertainment, realized by the individ- uals by virtue of either their person3l control of other packing houses and slaughtering companies, or their inter ] ests in stockyards, terminal railroads