The people's voice. [volume] (Helena, Mont.) 1939-1969, 1948-03-12
Figures Don't Lie, But Liars Figure"

in the reports of profits released public This
nothing but the efforts to delude the public
undoubtedly more pronounced than before
Moreover appears that of the corporations hav
worked out some new angles Armour and Company for in
stance make their profits low reports to tn
public set aside nine and onehaf millions of the profits
reserve against inventory osses clearly deliberate attemp
to fool the public this particular trick forbidden b.
Treasury regulations for tax purposes
Of standby reporting the profits sales
by percentages instead of reporting the profits made
their net worth by the corporations This net worth includes
the total of stock by stockholders plus the profits rein
vested the corporation rather than distributed dividends
to stockholders In study made by Guernsey Montgom
cry the Economic Outlook it shown that the
corporation profits of four billions in the 1869 have
mounted steadily to the banner year OF 1917 when they reached
seventeen billions
This same analysis shows that whereas Armour and Com
pan 1916 claimed reports the public that their business
showed only 18c dollar of sales they actually made 48 %
and their profits basis of net worth for the were
297 The Lerner Stores Corporation only reported 76
on sales but the profits of this big corporation based net
worth 44.3 %.
General Electric which has made practice of buying full
ads in the nations newspapers tell the public how
small their profits after all possible deductions
theless showed profits sales and 327a net
worth for the first nine months of 1947.
Poor old U. S. Steel for the period, showed profits
1880 sales but 1929 worth. One of its good
customers did better with profits
sales and 36.4@o net worth.
reported profits 10 sales
for public consumption but they didn't tell the public that
the company made profits of 279 on its net worth General
wives of the nation claimed 46 sales but its net worth
it showed profits of 22.9%.
All of these percentages of profits are after taxes But
the computations of all of these powerful corporations there
great oophoes for deductions Among them of
the excessive salaries and bonuses paid to their high
officials maintaining costly lobbies in the nations capital to
influence legislation favorable to their particular interests
watchdogs to of legislation that
might be threat to their rights to exploit
The study shows tabulaion of the increase profits in
from 1889 947 The shoes which sold for So in 1882
sold for S058 in 1947 During that period according to the
BIS Consumers Price Index the retailers profits increased
1T the manufacturers profits increased 600 the Tanners
280 the packing houses 400 Remember these figures
the next time have to buy pair of shoes Of the
retailer will blame the manufacturer and the manufacturer
will place the blame the tanner and the packnghouse
And the tactics will be followed by all other profteerng
industries And finally they will try to place most of the
blame on labor and the farmers
connection with the story of profits made by the Big
Four PackersArmo Swifts, Cudahys and Wilson, whose
profits increased from $26600000 in 1889 to $400000 in
1947 of $50 per these companies
facing by workers, having consider
hour them The the packers
gave that they entitled raise
commodity prices had dropped The workers counere
with suggestion they able buy direct from
goods the store counter is negligible which any
housewife affirm.
General Manager of the Farmers Union Grain
real the stomach of the working And these
esed in that by getting small advance
that the farmer produces Surely that makes
profits for the packers And the thing holds