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Newspaper
New York Times
Location
New York, New York, United States of America
Date
Jun 30, 1918
Page
10
Federal Trade Commission study shows steel flour coal oil copper and meat industries posting large profits during wartime. Major packers Armour Swift Morris Cudahy and others cited for inflated margins and stockpiled surpluses while canners and refiners faced license revocation for futures failures and price manipulation.
Swift & Co. Morris & Co. Armour, Edward Morris Jr. J Ogden Armour. Federal Trade Commission charges prompt rebuttals defending profit levels during wartime. Executives contest misapplication of profit figures, defend price behavior, and emphasize government wartime licensing and non profiteering.
Henry Bruére, City Chamberlain under Mayor Mitchel, a Director of the American...
A Metal Company executive rebutted FTC claims that the firm hid large profits through bonuses or tantieme to officers. He argued the practice aligns with long standing policy since the company’s 30 years of operation, noting stockholders are major insiders and returns reflect capital investment. He said salaries adjust to profits, with good years rewarding investors and poor years not, while denying concealment or war profit masking.
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