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PACKERS PROFITS BIG
Expert Chase Says They Have Been Trebled Says
liorria & Co.'s Profits in 1917 Were 267.7 Per Cent.
Stuart Chase, an expert accountant, told the senate
agricultural committee in presenting figures to show
that profits of the five big packing concerns have dou
bled and trebled during the war. Mr. Chase, who was
testifying at hearings on the Kendrick Bill, said no
one knows exactly what the packers' earnings are be
cause their methods of bookkeeping have the effect
of covering up their profits. He declared, however,
that examinations by the commissioners of the books
of Armour & Co., Morris & Co., Swift & Co.fWilson
& Co. and the Cudaliy Company showed their aggre
gate profits in 1912 were $18,715,000, and in 1917,
$93,639,000.
. Morris Ss Co.'b Profits.
Based on capital stock, Mr. Chase said, Morris &
Co.'s profits in 1917 were 2G7.7 per cent, and that on
the same basis Armour & Co.'s profits in 1916 were
114.2 per cent. Because of a later increase in capital
stock, the packing percentage for Armour & Co.
dropped to 27.1 in 1817. Swift & Co.'s profits in 1917
on the same basis were 63 per cent, while those of the Cudahy
Company In 1917 were 23.2 per cent, based on capital stock
a4 surplus. Wilson & Co.'s earnings for the same year were
2X1 per cent on the combined capital and surplus.
ADVISABILITY
PACKING HOUSE PRODUCTS IN DEMAND
THROUGHOUT THE WORLD.
The preparation of Food Products for human con.
sumption is the oldest business in the world. The Mid
land Packing Company has been organized "under the
Laws of the State of Iowa with a capital .sufficiently
large to do a Big Business in a Big Way. This inetitn
tion was created for the purpose of convertajf the
Millions of Dollars of Meat Material of the Missouri
Valley and the Middle West into the finished products
for the consumption of the people of this section and the
entire country.
The corn-fed Hogs and Cattle of the Middle West
have more than a nation-wide reputation for being the
best and most sought for Meat Products to be had. It
is not necessary that the Midland Packing Company cre
ate a demand for Packing House Products, but simply
serve the demand that is now here and rapidly increas
ing. .
It would seem almost criminal negligence to longer
delay the organization of a great independent Home
Packing Plant in this state one that will embrace in its
operations the whole of the middle west and in addition
thereto the best markets of the world for placing its pro
ducts. Resulting profits will naturally accrue, to both
its owners and this section in general.
MANAGEMENT
DEMAND
FIVE DOLLARS PER SHAR
PRACTICAL PACKING HOUSE HEAD AND
STRONG BOARD OF DIRECTORS.
Fred C. Sawyer is president of the Midland Packing
Company. Mr. Sawyer is a thoroughly practical and
successful packer.
As a mere boy, of IS years of age, he entered the
employ of the Chicago Packing & Provision Company.
After remaining with this concern for five years he en
tered the employ of Swift ft Company, in 1893, and re
tained this connection for some eighteen years.
It can, therefore, be seen that his entire business
career has been devoted exclusively to the packing bus
iness and its allied products.
Mr. Sawyer is now a man of 45 years of age and of
splendid health and refreshing aggressiveness. His
whole personality breathes thoroughness and system;
in short, he is found to be the logical man for the pres
ident of the Midland Packing Company. He will devote
his full energy to the new undertaking, making it his
life's work.
Mr. Sawyer practically grew np with the Swifts.
He stood high in the counsel to this big corporation he
was an executive in charge of the hog situation, hand
ling some six million hogs a year.
His methods are such as to deserve and inspire the
confidence of all who know him.
MORE THAN 400,000 CATTLE AND KORE THAN
800,000 HOGS RE-SHIPPED,
More than 800,000 hogs and more than 400.000 cat
tle were re-shipped from the Sioux City Stock Yards
during 1917, the bulk of which went to packing plants
outside of Sioux City on account f a lack of packing
house facilities in Elorrx City.
Sioux City livestock receipts for ISIS exceeded by
more than 500,000 the receipts of 1317.
Cattle receipts for the year will b at least 778,536 ;
in 1917 they were 678.9S8, showing 94,550 more this year
than last.
Hogs showed the greatest increase. In 1917 the hog
receipts were 2,149,115 this year they will be at least
2,485,394, showing an increase of 236,179.
Calves for 1918 will be 85,000j in 1917 they were
27,732, an increase of 7,268.
Figured in carloads : Up to December 1, there were
13,241 more carloads of livestock received in 1918 than
in 1917. Up to December 1, 66,847 carloads of livestock
had been received, compared with 63,606 for the corres
ponding period of last year. The total in 1917 was
58,387 cars; this year the conservative estimate is for
74,347 ears, or a total increase of 15,960 oars.
NOT LATER THAN MARCH 31st
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3IIDLAND PACKING COMPANY
610 Davidson Eldg, Eioux City, Iowa,
Please send me full information, and until such
I time please reserve for me ..shares at par value
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$100.00 per share. It fs agreed that this reserva- j
tion is not binding upon the Midland Packiiig Com
' pany nor the undersigned.
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Right Reserved to
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Construc
tion All buildings
are of reinforc
ed concrete and
steel structure.
There will be no
more modern
packing plant
than that of the
Midland.
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I lima. ffY V! PAVNY
Executive Offices, 610 Davidson Bldg.
Sioux City, Iowa
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