The evening herald. (Klamath Falls, Or.) 1906-1942, 1920-01-12
SWIFT. DENIES
MEAT COMPANY
4 IS PROF|TEER

I y WIN N = Pslby ~ N''' W.
! II, 'tion OF profiteering, according 10
resident Louis r. Swift N hiS I'D.
.ress at the n,I uaI m. - s. VI the
: q .npany this afternoon because the
charge Is unite.
Lmployes Of the c.npaif were
lurg TO g,+ in debt :. the c, NJ
pany's securities or something else
worth while and when they got out
OF debt TO get in again.
! Announcement Of the retirement of
f. s. Hayward. secretary OF the COM
pany was made.
An employees relations department
with John Calder as its head has
been established TO cultivate the hu-
man element in the personnel OF the
packing business.
1 Willingness OF Swift & Company to
divorce itself from holdings in pub
lie stockyards. stockyard terminal
railroads and stockyard newspapers
was expressed.
In his address Mr.. Swift said:
Every shareholder OF Swift q Co..
naturally resents criticism Of the
company and he resents more than
Anything else the implication of
I''profiteertng.. Swift, q company is not
10 profiteer.
II have said before to employees Of
Swift a Company. Get IN debt. It
has turned out tosbe q good thing.
Many, employess have told me that
Egojpg into debt, TO buy Swift 4 Com
pany stock was the best thing they
ever did financially; that II has been
the means Of their acquiring a per-
manent Investment returning reas-
enable income that they otherwise
would not have had. so ] say again
get in debt. net for elpthipgy 2rs for
luxuxles. tot for some inv%Hmepf Of
iintrfhsic aiue that II worss saving
for. spon as you get one thing
paid sup. hay somethips eisa sAd get
!, In debt again.
I'VE hope that all the employees
vhs. .pi{ chase ,AYifts, T. Company
s.oeh viii hold Il Is an investmeut,
and ! feel sure that they will find II
.xertA thsE While; q, A..s .
.sice-ofsesspsess&asy Of &wiftsA osss
pany. Mr. r. s. Hayward. who has
been, secretary since 1911 ID retirinG
! from business. He is one OF our old
est employees, having, started With the
company thirty years ago as auditor
At Kansas City and having, been sue
cessively a plant manager, general Of
flee manager at Chicago spd secre;,
tary. We are soIry to lose him but
! he has earned the rest which he is
desirous of taking and in leaving he
has the friendship. and best wishes Of
all his former associates, .
I'VE, have recently established d
! department of employees relations
! under the direction Of Mr.. John Cal,
tder. 1t will be our object thru this
department 10 cultivate and further
develop the human element IN our
business, We nov. have $4,000 en-
ployes who have shown their interest
lin the company by subscribing for
/, jts shares. With our Employees Ben.
, eft association. which last year took
care ,of-s,10O persons and paid bene-
fits amounting to ,$sss,oo0 and our
pension fund and various social ac-
| tivities, we feel that Swift & Com
pany is a good concern to be associ-
ated with and we are trying to make
! IL better.
Your directors have for some
, time, as evidenced by the segrega-
tions that have been made, had it in
mind to confine the business OF Swift
& Company to the activities directly
related to the slaughter Of meat ami
mails and the products therefrom and
to the handling of what is called pro-
duce, namely, poultry, butter, eggs,
land cheese. u.
'While we have felt that we have
had perfect right both morally and
legally to be engaged in any related
lines that we could manufacture and
distribute economically, there seems
to have been a certain amount OF
public sentiment against one packing
concern being engaged in many diff
ferent lines of business, Our interest
W these businesses has been perfectly
legitimate from every point OF view
but we have nevertheless thought II
best to dispose of the more remotely
connected enterprises. Swift & Com
pany therefore expressed willing
ness to dispose of its interests in pub
lie stockyards, stock yard terminal
railroads and stock yard newspapers
II a legal way can be found, and to