THE LIVESTOCK
PRODUCER AND
ARMOUR
THE LIVESTOCKPRODUCER ANDARMOUR
The success ofcapital lies inministeringto the people,not in takingadvantage of them
Philip D. Armour
1920
ARMOUR and COMPANY
CHICAGO
- George B. Robbins
- C. H. MacDowell
- Everett Wilson
- Arthur Meeker
- Frank W. Waddell
- Charles W. Armour
- Laurance H. Armour
- J. Ogden Armour
- A. Watson Armour
- Philip D. Armour
- F. Edson White
- E. A. Valentine
- Frederick W. Croll
- Robert J. Dunham
Foreword
THE year 1919, included as it was in the period betweenthe signing of the Armistice and the ratification of peace,was logically a season of uncertainty, unrest and unsettledconditions. And yet American business, discounting allthis, entered upon and passed through this period with full faithin a favorable outcome.
While prosperity was general, the processes of realignment ofour economic relations hurt or temporarily hampered some linesof business. The livestock and packing industries did not escapeentirely unharmed.
Naturally, proposed radical legislation, with accompanyingagitation, and a slump in American meat exports, caused suchviolent disturbance of the livestock markets during the latter halfof the year that both producers and packers became deeply concernedas to the immediate future of the industry.
No array of proved facts as to the low percentage of packerprofits, no pointing out of the real factors controlling meat andlivestock prices was sufficient to convince the disturbed elementof the public and certain agents of the Government that packers’operations on the existing large scale were justifiable.
Therefore, by a recent understanding with the Government,Armour and Company will dispose of all their interests in foodproduction, not directly associated with and dependent upon themeat packing business. In addition, Armour and other packersagree to relinquish interests in stock yards and railway terminalproperties at the various market centers. The terms of the understandingpermit the retention of dairy and poultry productsin view of the dependence of these on such refrigerating and distributivefacilities as the packers have provided.
Both patriotism and enlightened self-interest command everycitizen and business to make concessions and sacrifices in timesof crises, whether of war or peace; and while Armour andCompany felt that they were clearly within their rights in theiroperations previous to this understanding with the Government,it was pl
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