MEAT PACKERS CLIMB DOWN.

Manawatu Standard, Volume XLIII, Issue 1706, 22 December 1919, Page 5

MEAT PACKERS CLIMB DOWN.

By Electric Telegraph.—Copyright.". Australian-Now Zealand Cable Association. ■* WASHINGTON, Dec. 18. Mr Palmer has announced that the Big Five packing interests have consented to sell their holdings in public rail roads, stockmarket, newspapers, public cold storage warehouses, and forever dissociate themselves from the retail nvat business and wholesale groceries and canning business. The packers have submitted to the Government injunction forbidding the monopolisation of fcod products in. the United States; The concerns affected are: Armour, Morris. Swift, Wilson and Cuclriij and their main subsidiary companies, ■

HUGE PROFITS DIVIDED. •\ustraliar. N*>w Zealand Cabin Association. Received-December 22. 9.30 a.m. WASHINGTON, Dec. 19. Tho packers have been (riven two years' in which to complete the dissolution of their interests. The firms concerned are five controlled and 574 subsidiary concerns. They had interests in 188_ others. Armour's, Swift, Oudahy and Wilson grew within the past fifteen years from 92 million dollars in worth to 473 millions. They paid 105 millions in dividends in the same period. They had total sales in 1918 amounting to 3,200.000,000 dollars, and controlled '22 of the fifty existing American stockyards. Louis Swift, president of tho Swilt-Com-pany, in a statement, says: We have already • made dissolution of our packing business it) Australia and South Africa.