New-York tribune., 1920-03-18
Sheffield Co.
Made $774,OOQ
Profit i'm 1913.
Swami Announces Milk Con-
Germ i'm War Year Made
5lH Per Cent, With Extra
SurplusFund of$231 900
Depreciation Wiped Out
District Attorney Seeks Law
to Put End to Company's
''Cut Production" Order

The Sheffield Farms Company made
actual net profits of $774,OOO, or 51h
per cent in 1918 war year, according
to statistics given out yesterday by
District Attorney Swami. This was
three and 9pc-half times the profit the
company made in 1917. James B. Stat
ford, Federal Fair Price Commissioner
for New York State, turned the sta
tistics over to the District Attorney
after Franl. j. Wilson, one of his dep
utles, compiled them.
According to "Moody's Manual" which
is quoted in the statement given to
District Attorney Swami, the Sheffield
company's capital stock is $1,000 900.
Wilson said the company's surplus is
greater than it's capital
The Wilson statistics show that the
company had an extra surplus fund of
S23l 200 and an extra depreciation fund
OF S267, 900, totaling $498,0O0. The div
ldend for 1913 is $276,OOO. The total
OF the extra surplus and depreciation
funds. added to this dividend, brought
the total to $774,0OO, according to the
Wilson figures.
Increase of $236,OOO
IN the same YEAR the Wilson statis-
tics show, the total depreciation was
$553,O00, the extra depreciation amount
ing to S267 900 is deducted from that.
Inc average depreciation for FIVE
years is given by Mr.. Wilson as $685.
600. In the year 1918 the company's
surplus was $492 900, he SAYS. The
average surplus for five years, accord
ing to Wilson, was 1851 900 The latter
ilgures deducted from the 1913 surplus
shows an increase Of $236, 900 for that
year, he states.
District Attorney Swami, the Federal
au'horltlcs. Health Commissioner
Copeland and Commissioner Stafford
arc cooperating in an effort to find
out the law on the action Of the Shelf
hcld company in urging farmers to de-
crease their milk production if pos
s'blc. The company admitted that an
additional daily 100000 quarts could
be brought into the city if the distribu-
tors accepted all the farmers are pro-
ducing.
Health Commissioner Copeland yes
,crday took issue with Judge John ID.
Miller, vice president of the Dairy
mems League, who Dr. Copeland de.
clared had quoted him as saying the
FARMER was profitccr.
Copeland Answers Judge
Judge Miller knows better,' said
commissioner Copeland "Thcsc state
n,ents are untrue. wish the rank ane.
iilc OF the membership of the Dairv-
mems League would select some f' fact-
lul official who would deal frankly
with the New York public and not take
every occasion. as the present Of
flc'als do, to pretend to further the
farmers interests through biliincseatc
and criticism. CIV
Il doubt exceedingly if these officials
nave done anything else than stand in
the way of the farmers progress.
SO long as the middleman must be
mlddlomon the distributors and the
present officials of the Dairymen's
Lcasuel there can be no progress. The
,nlik distributors and the Dairvmcn's
League officials arc as thick as peas in
pod. -
~ is my belief that if the present
Legislature is permitted to adjourn
without some legislation looking to the
control of tho milk industry the farm
cfs OF this state will rue the day.
he Governor's Fair Milk Price
N,ommittce has presented a report and
thc remedies proposed therein have
neen embedded in the Thompson Poilett
h'il. The distributors are opposed to
ms b'!l because they do not want thor
BUSINESS regulated the farmers be-
eau e the executive committee of tho
Na'ryIneN's League has indulped in
guci nropaganda as to make tho nro-
Queer believe that everybody conuectcd
WIN TINS investigation wants TO yourc
the farmOr.'
Fox States Position
Patrick ID. Fox, pres dcnt of the Bor.
den's Farm Products Company. re-
clared. yesterday that the position Of
Ihe borden company must not be con.
fused IN the present milk discussion
MS company, he said. was maxim.
every effort to get all possible milk
rom the dalrics of the company TO tho
pasteurlzaticn plants.
60. lt must be uAderstood," he said
mat II wc attempt to curtail ser;o,,sl,.
me mllk production now because there
IS surplus we will find ourselves fac
ing a shortage in the months OF scan+
production. o' 'ea"'
-" nat is needed right now is an ef,,-
ca',on propaganda by the Department.
81 hea'th or some other body engaged
IN promoting public welfare. to sfimu-
Iale the consumption of milk. The Ror-
Grn (;nnHo; con company would gladly assist,
nhlai,n1,cially or otherwise.
ms company is eager to reduce ;ts
ppl'ee 10 the consumer, and this could
We "one II consumption were advanced