CHICAGO BEEF BARONS.

Nelson Evening Mail, Volume XLVII, Issue XLVII, 5 March 1912, Page 8

CHICAGO BEEF BARONS.

UP FOR CONSPIRACY.

Interesting revelations arc being madii at iC-hicago, where the big American u*e "beei barons," as they ace cabled, are cfiargc-d with conspiracy in restraint of trade, with the object ol securing a monopoly, it seems mat the pacs.eis had planned a merger with a capital of over ±JIOO.COO,GOO, about 60 per ceu. of which, according to the Government, was "water." An agreement was arawn i»p. between the packers in 1892, but, sa.d iar Albert Veeder, lawyer for the Be-if Trust, the plane were abandoned tho following year because tne New York nnanciers .'did . not produce the expected funds, the packers then organised the National Packing Company to taki over the "independents." which had been purchased with an eye to including them in ihe consolidation. By the terms of; the proposed merger three cf the biggest Chicago packers were to consolidate their- great interests and acquire scores, of. subsidiary companies and enough independent firms to assure Absolute control. Mr Veeder admitted that- »n- the capital .stock of the new company there was to be common stock to the value c* 25 times the earnings of the three interests. Net only were the earnings to be capitalised, but the earnings for 25 years! Counsel for the packers sought I to restrict the evidence before the jury j to the years after the Garfield inquiry in but the Government prosecutor | strongl-; objected to what he called tbo "immunity bath," and protested that, the secret weekly meetings which, he a--leeed. took place previously to 190£j yrera the basis of the monopoly afterwards formed with the object of fixing prices. The Judge said he would consider tr«e question and return an answer later. Simultaneously with th e prosecution cf the "beef barons" comes news that a syndicate of American and Canadian ranitalfsts has been formed to buy 9,000,000 acres of land in Brazil for raiping cattle and establishing the world's, largest beef industry., jt is sought to capture the European market by sending .-hilled beef to. your s ; .de of th#» Atlantic b-o- mean* of special steamer«. with everv facilitv for refrigeration. This is confirmation of a report which I heard recently in Chicago, and is accepted here as an illustration of the theory that ?tiv money the American packers may Jos* ok tlv> result of the present- investigation on the Chicago s"wirigs_ thev will more thif in Brazilian roundabouts. —"Dailv Telegraph" corespondent.