Items of Interest March 11, 1905 Issue

Items of Interest

The report of the Commissioner of Corporations upon the beef industry has been submitted in compliance with the resolution of the House of Representatives adopted March 7. The report is to the effect that six packing companies—Armour & Co., Swift & Co., Morris & Co., the National Packing Company, the Sdawarzschild & Sulzberger Company, and the Cudahy Packing Company—dressed for market in the year 1903 about forty-five per cent of the cattle marketed in the United States; that the average net profit in 1903 for three of the companies was ninety-nine cents per head; that the year 1902, instead of being one of exorbitant profits, was less profitable than usual, and that during the months when the prices of beef were the highest, some at least of the leading packers were actually losing money. The changes in the margin between prices of cattle and beef are in themselves no indications whatever of the change in profits, says the report Prices and conditions for the years 1902, 1903, and 1904 are reviewed, and the conclusions are stated that the six companies especially discussed are apparently not over-capitalized; that the percentage of profit on the gross volume of business is comparatively small, and that during the years 1902, 1903, and 1904. Swift & Co.'s profits have not exceeded two per cent of the total sales; Cudahy & Co.'s is stated at 1.8 for 1904, and 2.3 per cent for 1902.

With reference to private car lines in the packing industry it is stated that the profit is a very liberal one, a net return of from fourteen to seventeen per cent being indicated.

The monthly statement of the Government receipts and expenditures shows that for the month of February, 1905, the total receipts were $44,608,072, and the expenditures $41,461,234. The civil and miscellaneous expenses for February show a decrease of $1,000,000, and on account of War Department an increase of $60,000. There also was an increase on account of navy of $314,000.

Send a comment to the editors

We'd love to hear from you!

Easily submit your testimonies, articles, and poems online.

Submit

Items of Interest

We'd love to hear from you!

Sign up for unlimited access