MEAT TRUST ENDED

Hokitika Guardian, 19 February 1920, Page 3

MEAT TRUST ENDED

many businesses to be aban

DON-ED.

NEW YORK, Dec. 18. The end of tlie “Big Five” meatpacking trust will lie announced this week, according to despatches Horn Washington. The Attorney-General has concluded an agreement with the Atniour, Morris, Wilson, Cudahy, and Swift companies'by which the latter will forestall the action of the Federal courts and bring about a reorganisation similar in effect to the breaking up of the Standard Oil Trust. In future the packers will be allowed to deal in nothing but “products of animal”—i.e., meat, poultry, butter, eggs, and cheese. They must cease activities in canning fruit and vegetables, must abandon operations as fish dealers, give up the manufacture oi lertilisol's,"aml close or sell tanneries. Trading in collateral lines, such as the manufacture of sporting goods, will be forbidden. Legal authorities believe that under tlie terms of the agreement they will he prevented from the manufacture of soaps and cleansing powders. WORLD-WIDE EFFECTS.

Control of stockyards "ill bo surrendered nml all relations severed with banks, railroads, and cold-storage plants An important clause in the agreement is that in disposing of their interests in industries and commodities other than those which are “products of animal,” packers shall not allow them to be acquired by anyone connected with the present owners. Another charge levelled against the “ISig Five” is one of profiteering. The aggregate profits of the group from 1012 to 1914 were £51,800,000. In 1015 they earned £3.200,000 in excess of this figure. In 1916 the excess profits had risen to £9.000,000, and in 1917 they were no less than £151,600,000 more than the pre-war figure. In the three war years 1915 to 1917, the total profits reached what the Federal Trade Commission described as the astounding figure of £28,000,000, of which £24,000,000 was excess profits. Tho present assets of tho group are about £237,000,000. Tn consequence of signing the agreement all pending suits against tho Big Five will be dropped.