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Newspaper
Cheyenne State Leader
Location
Cheyenne, Wyoming, United States of America
Date
Apr 15, 1919
Page
5
A Skinner Packing Company promotion urges livestock producers to join as manufacturers in the packing process. It argues producers earn small profits while packers gain ten to twenty times, inviting farmers, bankers and cattlemen to invest to capture larger profits in cattle hog and sheep goods.
Paul J. Skinner and Lloyd Skinner lead Omaha’s Skinner Packing Company and related ventures with assets over seven million. The new Daylight Snow white Independent Packing Plant will be the era’s most modern facility, featuring cornerstones like a sub-basement cold storage, peak refrigeration efficiency, sixteen car docks, and a forty acre site adjoining major stock yards. The group operates Skinner Manufacturing and Skinner Baking, with stock offerings to investors on a ground floor basis, promising stable, profitable involvement and no past investor losses.
The 1918 financials for Wilson & Co. show net profit on 20 million dollars of common stock at about 34.49 per share after preferred dividends, with a high plan of capitalization and use of borrowed funds enabling over 10 million in preferred stock and 20 million in common stock to earn significant profits. The Federal Trades Commission report notes that leading packers in 1917 earned about 21.6 percent on capital stock and 10.5 percent on invested capital, while profits often remain hidden in accounts. The comparison implies Wilson & Co. leveraged financing to achieve high earnings, and the discussion suggests similar prospects for Skinner Packing Company.
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