The Breckenridge news. (Cloverport, Ky.) 1876-1955, 1920-06-16


The story Of enormous profits made
by the packing houses in the United
States and the poor profits or actual
losses by the producers of live stock
was heard by the Kentucky Bankers
Association in an address delivered
before that body by John S. Cren-
shaw, of Cadiz, KY, who is treasurer
of both the National and the Ken
lucky Farm Bureau Federation.
And the bankers Of America, Mr.
Crenshaw said, must pay more at
tention to the farmers His speech was
heartily applauded by the large as
sembly of Kentucky bankers.
Packing House Profits.
Speaking of packing house profits
and farm losses Mr.. Crenshaw said:
"Armours net profits for fifty years
as reported by themselves were $170,-
00O,0 on an original investment OF
S160, 900, which means an average re-
turn of $3,5sO,OOO per year or 22O per
cent.
Swift and Cos, net worth rs years
ago was $14,5O0,OOO and they report
net profits for the 90 years of $214,-
100000 or an average of $9,314, zoo
per year or Sc per cent profit.
Wilson and Cos. net worth 25
years ago was $4,694,OO0 with net
profits of $44,390.OOO or an annual
average return of $1,77O,OO0, or an
average of 80 per cent.
Morris and Cos. showing is the
lowest for in 1909 they report net
worth of $2s,649,00O or an annual re-
turn of $2,s69,O00 or ~ per cent.
"Cudahay Packing Co. reported a
net worth 81 years ago of $750,000
with an annual return for the years
of $1,215,000 or $50 per cent annually
Producers Side.
Now watch the producers side OF
it.
The Lassiter Live Stock Co., OF
Fit Worth. Texas, is the biggest pro-
ducing concern in the world, with a
capital of $2,563,00O with loss on
the business of the past nine years OF
$92, 1884, which is better they state
than the average business in the
Texas territory.
One Iowa cattle feeder who has pro-
duced mare than 1000 head "a year
states in an interview that he is clean
ing up until conditions change and
says that is the attitude of all of those
of his state Hog raising and feeding
is on the decline because farmers and
live stock men have been losing
money until there is no option left
them in the matter"
. Banker and Farmer.
Regarding the banker and the farm
err. Mr.. Crenshaw said:
But to get back to the question of
the relation of agriculture to banking.
1t is not timely to enter into a discus
sion of the H. c. L. we are coming
in contact with every day, as to how
or when and where it will be reduced.
Suffice to say that so long as the mar
ket price of farm products is the
battle dore between the shuttle cocks
of profiteer and politician, between
speculator and labor unions, so long
as the farmer is looked upon as pro-
titeer and making an unreasonable
profit, as being made immensely
wealthy at the expense of the labor
ing man and the city consumer, you
may have all the price commissions
and the investigating committees and
hhO SOhslSoSiOhdi laws yOu Idil get,
but the fact will remain that unrest
and dissatisfaction will continue and
shortage of foods and high cost of
production will continue
II am not in any sense an alarmist
| believe in this country and in its
future and that there are better condi-
tons in front of us on every hand. l
am not looking for reign of Boil
shevism, but | do believe that the
American people are facing a crisis
in agriculture and | do believe that
on the solution of the problem rests to
great measure the future prosperity
of this country.
Facing Several Food Shortage.
1--WE are facing crisis in agricul-
ture such as we have not known be-
before, we are facing food shortage
such as we have never faced before
and looking forward something like