SHAMELESS PROFITEERING.

Taranaki Daily News, 20 September 1918, Page 6

SHAMELESS PROFITEERING.

EXPOSED IN UNITED STATES. When the President warned the profiteers that h 6 had "the goods" on them, he was not indulging in bluff or dealing in generalities (says the San Francisco Star). In answer to Senator Borah's resolution a-sking for data on profiteering, the Treasury Department has msu*e a report which, though announced as only "partial," contains enough instances to satisfy almost anyone that there are plenty of "patriots for profit" who need disciplining. One food dealer is specified who made S a profit of 2183 per cent. A liquor man with a capital stock of 5000 dollars made 1200 per cent. A cold storage concern piled up 472 per cent beyond 1910 profits on a capital of 10,000 dollars. There are a few other items: 111 the dairying business.excess profits ranged from nothing to 182 per cent.; banking, nothing to 82 per cent; contracting, nothing to 596 per cent; clothing manufacturers up to 191 per cent; chemicals as high as 3/7 per cent. A flour miller with dollars capital showed an excess pftifit of 236.24 per cent. In 191G he made 48,000 dollars profit and in 1917 he made 260,000 dollars. Another capitalised at 260,000 dollars, made 27,000 dollars in 1916, and in 1917 raised to 81,000 dollars, an excess of 437,67 per cent on his capital. A 500,000 dollar meat packer made 14.30 per cent, while a 72,000 dollar concern made 20 per cent. On 10,000 dollars ' capital, a soft coal mining concern made 504 per cent excess. A retail coal con- ■ cern showed SO per cent, on a 1,250,000 dollars capital, making 185,000 dollars ' in 1016, and 285,000 dollars in 1917. And yet there are those who will | calmly ascribe the advancing cost of ! living to be the wage increases of from 10 io 20 per cent., by which the .worker feebly attempts to keep within breaking distance of the price-list!