The Maryville times. (Maryville, Tenn.) 1884-1944, 1920-04-07
SUPERVISION OF
WOOL is ENDED
-Four or Five Steps Necessary to
Finish Work of War Indus
tries Board.
SETTLE WITH 1856 DEALERS
Reports Must Be Audited, Analysed
and Excess Profits Determined and
Disbursed-Refunds in Many
Gases Will Be Small.

Washington.-The department O.
agriculture is winding up the affairs
of the domestic wool section of th'
war industries board. This work in
wolves four distinct steps, and it seems
probable that a fifth will be necessary
The first step is to secure, on forms
furnished by the department, sworn
reports from the 1885 country deal
ers and the 179 distributing dealers
to whom the war industries board Is,
sued permits to deal in wool of the
1918 clip.
The second involves the auditing OF
these reports In detail to determine
whether the methods pursued and the
profits made are in accordance with
the regulations
The third is the collection of excess
profits from those persons or firms
whose reports. after auditing, SHOW
that such excess profits were made.
As rapidly as they are received by
the department, all remittances for
excess profits are being deposited as
a special fund in the treasury of the
United States.
Disbursing Excess Profits.
The fourth is a careful analysis of
each report which shows excess profits
with a view to working out the fair
est possible method of distributing
such profits. After this is done, the
department proposes to disburse the
excess profits by check Of its own dis
bursting officer drawn on the treasury
of the United States.
The fifth step will be an audit, In
the field, of the books and records of
dealers whose reports for any reason
seem to make this course advisable.
The first division Of the work has
been very nearly completed A rela-
lively small number of approved deal
ers have failed to make reports, and
1t is believed that the transactions of
many Of these were so small as to be
practically negligible.
1t has been discovered that several
hundred wool dealers carried on their
business as usual during 1918 without
obtaining permits. AS the names of
these dealers have been ascertained
they have been required to furnish re-
ports similar in respect to those re-
quired from permit holders and to pay
over their excess profits whenever 1t
appears that they have made more
than the regulations allowed. In 9th
er words, they are not allowed to de-
rive any advantage from having Oper-
ated in ignorance or violation of the
regulations. The discovery of many
of these unauthorized dealers was i'm |
possible until the reports of the 179
dealers in distributing centers were
audited since the entire wool clip Of |
the country eventually passed through |
their books either as purchases or
The second division Of the work, !
that of auditing the reports received. /,
Is progressing rapidly as the force
available will permit, and the collec-
ton of excess profits proceeds as the
audit of each separate case Is COM
pleted.
Pay All at Same Time.
AS rapidly as excess profits are re-
reived from any dealer they are APP
portiOned to the individual growers
TO the extent to which their identity
Is disclosed but the actual payments
are being withheld until the collec.
ton of excess profits is more nearly
In order that practically
all the growers may receive their
checks at approximately the same
time.
The reports Of many country deal
ars show no excess profits Relat. 7ely
small amounts of excess were made
by most of the others, and the refunds
to individual growers. In many cases
viii be very small. In other words,
he refunds will amount in the aggre-
gate to several cents per pound upon
all the wool which the dealer handled.
"The greater part of all excess prof
ts," according to a report of the de-
lartment, appears to have accumu-
ated In the hands Of certain distribut-
ng center dealers who purchased
argely through direct agencies in pro-
lucing sections. Many Of the distrib-
lting center dealers, who handled
yools on consignment only and whose
'rofits were necessarily limited to the
paid by the government.
appear to have no excess. In the dis
'ussion Of this subject In press, the
act that nearly two-thirds of the wool
lip OF the country is so-called ter
itory wool from the Western and Pa
fic coast states. which was handled
lm0st exclusively on consignments,
nd therefore furnished on Opportuni-
v for the accumulation of excess
rofits has, to some extent at least,
zen overlooked"
- Hiuar