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FRIDAY. JANUARY 17tli. 1919
PROFITEERS ... .. ,
(From "The Independent".)
Heavy prot'it« made by meat packers, flour millers, and others, to
gether with the existence of “trade tendencies" to increase and maintain
prices against forces of competition, are described and analyzed by a report
made for the War Industries Board, the Food Administration, and the Fuel
Administration by the Federal Trade ('ommission. A summary of the report
has been published pending final publication, and has been sent to Congress
as an aid in preparing anti-profiteering legislation.
Some of the important items may be briefed as follows:
The survey <>f the meat-packing situation showed, according to the
report, that "five packers. Armour. Swift, Morris, Wilson and Cudahy, and
their subsidiary and affiliated companies, have monopolistic control of the meat
industry and are reaching out for like domination in other products. Their
manipulations of tin* market embrace every device that is useful to them tvlth
< ut regard to law."
"However delicate a definition is framed for "profiteering”, the com
mission comments, "these packers have preyed upon the people unconsciously.
They are soon to come under further governmental regulation approved by
executive order."
While the price of flour has been stabilized by fixing a price for wheat
and a maximum margin of profit for flour, the report shows that profits In
creased from an average of 12 per cent on the investment for the four years
ending June 30. 191(5. to nearly 3.x per cent in the year ending June, 1917.
“These profits," it is stated, "are indefensible, considering that an
average profit of one mill for six months of the year shows as high as $2 a
barrel.**
in the oil industry large profits are now being made in fuel oil, and
gasoline, the industry being one where the law of supply and demand still
ojs rates. The operation of tiiis law is held to he in part responsible for the
heavy profits, hut a portion of the blame is laid to the spreading of false re
ports regarding supplies.
Steel companies made abnormal profits before the Government fixed
a price for the product, and it is shown that some have since made unusual
"'turns. I’rofits of the I’nited States Steel Corporation are estimated at 24.1
K r cent ill 1917. as compared with 15.6 per cent in 1916 and 5.2 per cent in
1915.
In practically every one of the other industries covered by the report ft
b- shown that unusually heavy heavy profits have been made in the last few
years. Abnormal salaries have also been paid to executive officials.
Trade practises contributing in addition to profits to higher prices to con
sinners are noted, as failure to ship goods on a rising market or refusal tc
accept goods on a falling market, commercial bribery, and the tendency ol
manufacturers to maintain a resale price.
CHANNEL TUNNEL NOW A CERTAINTY
(From Saturday Night.)
r>»o great engineering work which in almost certain to result from th€
war is the Channel Tunnel between England and France which has long beer
mooted, but which has hitherto remained in the visionary stage. In fact a
f< w years ago there were alarmists who feared that the Integrity of the
"right little, tight little island” would be Imperilled if such an international
enterprise were permitted. Such alarmists were oblivious of the fact that
use of such a tunnel for purposes of war could be stopped almost with as mucl
economy of effort as the victory of Horatious over the hordes of Lars Porsena
of Clusium on the banks of the Tiber.
Many times since the present war began the Gotfernments of Britain
ami France must have privately lamented that the projected work had nol
long ago been implemented. The British navy has maintained the '‘channel
ferry" for the armies in France with astounding success ever since the first
expeditionary force left England's shores in 1914; but with a tunnel the navi
responsibility could have been greetly reduced, and Britain’s ability t<
combat the submarine menace Immeasurably increased.
That such a tunnel is quite feasible and offers no unsurmountabU
engineering difficulties is vouched for by Sir Francis Fox. who was one ol
the builders of the Simplon tunnel. In a recent speech, he said that the
maximum depth of water between England and France at the projected ait<
did not exceed 180 feet, and that borings covering the entire distance showet
that the geological formation was easily workable and similiar on both coasts
Problems of ventilation and motive power for trains have all been carefully
worked out. All that is necessary is for the Governments of. Britain ant!
Franco to give the authorization and provide for the financing of the project,
and a few years will see the tunnel In actual ojicration.
The economic value of the tunnel is unquestionable, especially as
friendly relations between Britain and France are likely to continue for many
than cool The Allies, it is said, have already formed plans which will divert
traffic by the Orient railway line thru Germany and Austria to the railroads of
the Orient railway line through Germany and Austria to the railroad of
France and Italy. With the tunnel completed and in operation, the traveller
to the East may get into his train at London and travel by rail clear through
to Brindisi, Italy, before stepping on shipboard. The Inconvenience of cros
sing the channel in rough weather will be obviated. Viewing the matter|
through Canadian eyes the journey from London to Paris will be as simple
a matter as a run from Toronto to Montreal: and a visit to Rome as easy and
continuous as the run from Toronto to Winnipeg.
The project has also its sentimental aspects. Sir Arthur Fell, who.
speaking In the House of Commons, said that the construction of the tunnel
would constitute a convincing symbol of lasting mutual confidence and unity,
and a fitting memorial to the Allied struggle for the liberty of the world.
With this utterance everyone will heartily agree.
DECLARES DISTILLERS ARRANGED FDR
NATIONAL PROHIRITION EVENTUALITY
Special to the Nugget By the Associated Press.
NEW YORK. Jan. 16—Presiident Stern, head of the Trans-oceaniic
Commercial Corporation, the newly organized export susidiary of the Dis
tillers Security Corporation, declared in an interview today that the distilling
interests, in anticipation of the enforcement of national prohibition next year,
have already completed plans for the conservation of manufacturing plants and
for the export of whiskies and other spirits now in bond.
Stern says the distillery interests have forseen the results of the
nation wide agitation against liquor and will he able to meet the prohibition
Issue without undue losses.
SENATE COMMITTEE REPORTS FAVORABLY ON
1 WILSON'S HUNDRED MILLION DOLLAR REQUEST
Special to The Nugget by The Associated Press.
WASHINGTON*. Jan. 16—Without more than a slight amount of op
position from dissenting c ommittee members, the Senate Appropriations Com
mittee has ordered a favorable report on the bill originating in the House of
Representatives appropriating the sum of one hundred million dollars for
relief work in Europe, as requested by President Wilson some days ago.
iWth the favorable report of the Appropriations Committee behind it,
the bill is expected to pass the Senate without difficulty at an early
date.
AMERICAN SHIPPING PURER ON
EQUAL TERMS V|ITH FOREIRN NATIONS
Special to the Nugget By the Associated Press.
PARIS, Jan. 16—(Associated Press Leased Wire and Cable Service.)
—American Shipping will be able to make tonnage rates in successful com
petition with other nations under the provisions of a new shipping policy ad
opted by the government, if plans which are at present under advipiament are
brought to a successful issue.
The plans include a form of competitive agreement between the inuri
time nations represented at the peace conference and will have the effect of
placing the shipping of America on equal competitive terms with foreign
shipping.
Chairman Hurley of the United States Shipping Board is in Paris at
present to assist in devising the plan.
CANADIAN POLICE PATROL LUTES
ON ANNUAL TRIP TO AROTIO
Special to the Nugget I3y the Associated Press.
DAWSON, Jan. 16—Northwest Mounted Police patrol which annual
ly makes the long trip from Dawson to the various Mounted Police stations
along the Arctic shores, departed for the Arctic coast today.
The journey made by the policemen embraces several thousand miles
of travel over the winter snows and extends as far to the east as the Copiper
mlne River and Coronation Gulf.
To obviate possible danger from influenza, lr. the event that the dis
ease invades the northern districts, the members of the patrol are carrying
an ample supply of influenza serum In belts strapped under their clothing
next to the skin to keep it from freezing.
RERUN R0T7 ANNOUNCES PERFECT
FREEDOM IN OOMINU ELECTIONS
Special to the Nugget By the Associated Press.
LONDON, Jan. 16—Advices fron1, Berlin say order has been complete
ly restored In the German capital and no further attempts to overthrow the
provisional government are anticipated.
The return of confidence is well indicated in the announcement that
the elections to decide the character of the future German government will
be held In accordance with the original schedule.
;t is reported that the German government has Issued a statement to
the public in which it declared that the forthcoming elections to determine
the constitution of the German state will be held under a system providing
the most free suffrage to bo found in the world. The statement also says
that efforts wiil be made to arrange a peace with the Allies which will safe
guard the future freedom of the German nation and render a possible founda
tion for a union of nations which will provide protection against future
wars.
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