Evening star. [volume] (Washington, D.C.) 1854-1972, 1927-08-21
ONE-MAN BUSINESS
CONTROL LAPS|NC
Wise Executives, Recogniz.
ing New Conditions, Care
fully Train Successors.
BY j. G. ROYLE.
Special Dispatch to The Star.

Special Dispatch to The Star.
NEW YORK. August o0.-The day
of one man industries and one-man
corporations has passed in the United
States. This has been proven in the
last few days in connection with the
deaths OF Judge +. II. Gary and j.
ogden Armour. Mr.. Armour had not
been especially active of late months
in the corporation bearing his name,
but he still was chairman of it's board
and had no small share in shaping its
policy.
These two deaths did not affect bust
ness industry or the stock market.
Few individuals now have the power
Of creating a business upheaval. There
are today scores of executives who are
insured for sums ranging as high as
two or three millions of dollars in
favor Of their firms for the very pur-
pose of multiplying any effect their
deaths might have. In fact, the gain
of Ii per cent reported today in the
volume of money paid for life insur
ance for the first seven months of this
year is due in no small measure to
this factor. That total aggregated
100000.
Successors Patiently Trained.
The keenest sighted executives of
the country today are spending infinite
time and patience in the training of
their successors. and the most sue
CeSsful executive is the one who can
find some one else to do his work.
Policies have a far greater effect
than deaths. This was true in the
case of Mr.. Armour. 1t was his pol
icy which sent the Armour Co,
through it's subsidiary. Armour of
Delaware. into the South American
field His policy in that respect was
followed by n most disastrous inter-
national trade war That war, al
though few Americans know it--and
least of all those most concerned,
the farmers-has had a damag ing eff
feet on the agriculture and commerce
of the United States since 1925.
In the struggle to secure control
of the Argentine meat trade the
American packers, Armour ana
Swift. became involved in a battle
with the Union Cold Storage Co,
owned by the Wesley interests. the
largest British packers. Since most
of the Argentine beef is shipped to
England and sold there, the battle
broadened to the London market.
Price Cuts Became Severe.
Price cuts were so severe that
prime beef was selling in London for
a time late in 1926 and early this
year as low as cents a pound. The
packers We're suffering heavy losses
from these cuts. Meanwhile the
meat producers and meat consumers
of America sat back and prepared to
enjoy the battle. They did not real
ize until later that every time the
American packers aimed beef price
cut at the English packers they were
hitting themselves and the producer
of the great American hog back
handed blow on the chin.
American beef is shipped only in
very small quantities to England or
Europe. but pork and pork products
are shipped in huge quantities and
the price paid for hogs and the profits
made by the packers of pork depend
largely on the surplus shipped abroad.
Since Europeans and Britishers could
buy prime beef for cents a pound
they ceased to demand American ham
and bacon, lard, spare ribs and other
products in such large quantities.
War Practically Over.
The war is practically over now.
The cutting Of prices has ceased, but
the treaty Of peace has not yet been
formally signed. The Union Cold Stor-
age Co. has a lot Of refrigerator ships
plying to South America and is now
squabbling as to the amount of meat
which shall be allocated to its ships.
The company demands 1000 tons
week. Even when all is settled it will