The Richmond Virginian. (Richmond, Va.) 1910-1920, 1920-02-25
INDIVIDUAL MUST WORK
FOR NATIONAL SUCCESS

J. Ogden Armour believes that.
only as we shoulder Individual re-
yponsihiitties shall we continue TO
succeed nationally" This ia his mes
sage in the Armour year book for
1870.
Unless we each recognize the other S
problems" maintains Mr.. Armour.
conflict Is inevitable. The citizen
must comprehend business for this
country's progress is built on business
activity and what injuries business IN
lures the nation as whole.
Investment is essential IN business
ard investment will not bo made
- here there is constant harasSrneui
u. capital.
democratic principles npon which
this country is founded arc safe so
tors as We all respect them. realizing
thar We are bound BY mutual interests
ard that no one group can pcrma nent r
~ secure an Unfair bargain at tho eS-
rense of others.
MIR Armour refers TO the RESPONSE
billy Of Armour & TO. in serving
both producer and the consumed ano
continues;
EVERY investigation OF our methods
has demonstrated that we 10 meet ti,e
purposes and necessities for which W.
exist. ard that our operating costs ana
proats are tho smallest % any larg@
successful industry. There is only one
way to arrive at the truth about ibe
cost of meat. and that is 10 study the
problem IN ~ entirety Any inVesn =
ration must cover The entire held from
thp farm 20 the table
I; is pointed out that " no!osale beef
prices which averaged s2ttS on May
/. 1914 steadily declined 10 s14-72 by
December !.
Armour & CO. as result Of doing
business for many months on stead
INV falling market report that their
sac on dressed beef for the year
show ed decided net ioss. Hogs
bought al a high price in June were
sold at considerable loss IN October.
Referring to the high cost IF living
/, is held that everybody is rcSponst-
he Some Of the reasons why prices
ar. high as set forth in the year book
are: inflated currency; scarcity OF
staple goods in lsurope. higher wages:
reduced output due TO interrupted pro
dur,ion on account Of strikes and
shorter hours; price fixing by the gov
eminent thus interfering with natural
laws of supply and demand. loss Of
life and colossal consumption OF food.
fuel metals and other industrial ma
terIal during the war. together with "A
wave of Unprecedented buying extrava-
rance that has given every opportu-
nifty and encouragement toward price
boosting aud proftesring,
Remedies suggested fer the nigh
COS. of living are hard work, econom-
zeal buying. moro goods. greater care
in consumption, less credit.
In voluntarily agreeing to relinanish
certain so-caiied grocery lines. such AS
canned fruits vegetables, grape Juice.
fsn and condiments, and to sell all in
t,res.s In the stockyards, terminals,
public cold storage warehouses and
SIMILAR interests, the company says. IL
aid so frankly and ableiy in Difference
10 public opinion" while maintaining
that It's position has been legally,
morally and economically sound and
In the interest OF consumers and pro-
iucers.
The financial statement shows thar.
although the company's gross business
amounted to sl.o3s. 200. 200, exceeding
All previous records, with net income
of si4.ess,sas, the return for each dol
Tar of sales, amounting 10 slso net
was the smallest in the history OF the
Organization. The return on eapital
investment OF s2os, sss7se amounted %
net of 67t per cent All the net
profits. with the exception of Ssase,-
lc3, paid as dividends, ,mere reinNestcd
in the business. in accordance with the
usual policy of the company.