OCR Interpretation

The day book. (Chicago, Ill.) 1911-1917, December 28, 1911, Image 14

Image and text provided by University of Illinois at Urbana-Champaign Library, Urbana, IL

Persistent link: http://chroniclingamerica.loc.gov/lccn/sn83045487/1911-12-28/ed-1/seq-14/

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lum will pay anything for it if you
say right out what It is.
Sotfie packers had to have-a
name for the $600,000,000 worth
of water they intended' to squirt
on the public.
They decided on "25 times the
value of the annual earnings of
the merged interests
That is to say, whomsoever in
vested in the stock ot the new
company -would pay, not for the
various plants, not for anything
factual, but for "what the industry
was likely to earn in the coming
25 years. He would buy his ownrt
The actual, cash obtained from,
the sale of his stock woujd be
clear profit for the packers. They
were just going to'shove $600;-
000,000 of the investing public's!
money into their jeans.
Nowt the packers slay this
scheme fell througlvwhich it un
doubtedly did.
The reason it fell throuerK is
not very clear. It seems doubt-
ful whether it didso because the
JNew York financiers who were to
advance the money to buy up the
competitors of the packers want
ed too big a share in the loot, or
because these New York finan
ciers were afraid of the amount of
water, or because of the panic of
1903, or because the New Xork
financiers were afraid of the gov
ernment investigation of the
packers that then was looming
in the background.
Anyway, it fell through, and so
the packers are now "telling all
about this projected burglary in
Judge Carpenter's court with1
great ihgenudusness.
"We intended to do this," they
say "but we couldn't pull it off.
And, besides all this happened
nine years ago, and what hap
pened nine years ago doesn't mat
ter. The statute of limitations
prevents our being punished for
anything we may have done ex
cept in the last three years."
Allowing all that, the fact v&
mains that these men, who admit
they did control the food of the
people nine years ago, were quite
ready' and willing Jto engage in
any land of polite business
These men cannot defty they,
dominate the industry today.
They have admitted that they
controlled the industry prior to
1902 by the old "P. O. Box247T
pool. They have admitted that
in 1902 they bought up every for
midable competitor. They have
admitted they merged these ab
sorbed competitors in the Nation
al Packing company, which they,
have controlled ever since.
And these men, who calmly
admit they trjed to pull off one
of the biggest and most nefarfr
ous schemes for looting,the pub
lic, are the men who today fix the
prices of meat.
Da you wonder meat is high ?
' .."
Nebraskans come forward with
3Joosevelt"to save the Republi
can party." Might save the Re
publican party "pork' but it is
daily becoming more and more
difficult for aparty to live; com
fortably on just "pork."

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