Rensselaer Semi-Weekly Republican, Volume 37, Number 21, Rensselaer, Jasper County, 17 March 1905 — COMMISSIONER GARFIELD'S REPORT. [ARTICLE]

COMMISSIONER GARFIELD'S REPORT.

It la Found to Be Favorable toe the 'Ggeat Packer?, The report of Commissioner of Corporations Garfield on the beef industry, after about eight months' investigation in Chicago and elsewhere, shows that there lias been an enormous amount of exaggeration in the statements that have appeared for some time past in regard to the beef business. This investigation was set on foot by a resolution of the House of Representatives adopted March 7, 1904, and the ascertained facts after a- most rigid examination of the methods and general conduct of the business are contained in a report covering 308 pages. Its figures and tables conclusively show that the popular belief in enormous profits made by the large packers, such as Armour A Co.. Swift & Co. and Nelson. Morris & Co., and in the exclusive control of the business which many think they enjoy, is really without foundation. The rejiort made to President Roosevelt by Commissioner Garfield is really the first official statement of the actual conditions of the' beef business .that has been made, and as all Hie conclusions arrived at are based, as shown by him, upon data officially obtained, there seems to be no reason why they should not be regarded as reliable and In all respects trustworthy. This report shows why the price of both cattle and beef advanced to the highest level ever known after the short corn crop of 1901, and states that because of the decrease in number of cattie and also in decreased? weight, “the high prices of beef which caused bo much complaint among consumers at this time were attributable wholly to these abnormal cattle prices..” All the figures of the live weight and live cost of all dressed beef cattle were obtained from actual killing records and all information of every kind obtained by the Commissioner was voluntarily and freely offered by the packers, all books of record and papers connected with the business having placed at his disposal. To make certain that the results of the investigation should be absolutely accurate, the Commissioner states that a double method’of ascertaining profits was adopted, and. without going into detail here, it is found that the conclusion arrived at shows an average profit of 99 cents per head. The Commissioner says “the close parallelism in the results of the two methods of a’scerprofits confirms completely the correctness of the general conclusions.” It is clearly established that “western packers do not control more than half of the beef supply of the United States,” the conclusion of the Commissioner being that the business done by. them amounts to “about 45 per cent” of the total slaughter of the country. The whole report is extremely interesting and well worthy of careful perusal. As an official report it may be regarded as worthy y*f confidence and it certainly leads the reader to the conclusion arrived.at by the Commissioner when lie states that “the capitalization of none of these concerns is excessive as compared with its actual investment” and that from thorough and rigid examination of original entries in books and papers to which he had access there was also “indirect evidence that the profits of the packers in their beef business are less than is frequently supposed,” as shown by comparison between the total profits and the total amount of sales.