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Show PACKING INDUSTRY WILL BEREfiUUTED Price of Meat to Retailer and Consumer to Be Cheaper. CHICAGO, Nov. 24. Kulatioii of the packing Industry, effective as of November No-vember .1, so that the price of meat to the the retailer and consumer mny be both stable and cheaper, was announced today to-day by Joseph P. Cotton, chief of the meat division of the I'nited .States food administration. In accoidaufo with the announced policy of the food admin is t rat ion t n abolish speculation and unfair profits, Mr. Cotton, in his statement to the puckers, declared that profits in the meat business must in no e;i.se exceod J.") per cent of tho. sales. Moreover, the annual earnings of the five big packers cannot eT-eed 9 per cent on the average capilal necessarily used in the business, it being pointed out in this connection thai these five concerns have diversified business adjuncts th;it are outgrowths of, but not necessa ri iy a part of, tho actual packing of meat. Detailed rules and regulations are to be issued to define the general principles princi-ples outlined, and to prevent diversions or concealment of profits, and packers accounts are to be subject to inspection at all times, Mr. Cotton said. He also declared his intention to protect the small packers, and asserted the adjustment adjust-ment of pork prices at tho expense of beef or mutton is not to be permitted, or vice versa. |