Show BIG PACKERS CREDITED WITH ITH PHilANTHROPY Edward Edwad R. R Smith Tells Merger Investigators Investigators' That Large Companies Are B Boon o to Growers I NEW YORK Feb 21 BIg Big packers packers pack pack- ers era ers were characterized a as fl Involuntary Involuntary tary philanthropists by Howard R. R Smith president of ot the Schaffer- Schaffer Smith Packing company of or Baltimore Baltimore Balti Balti- more during his llIs testimony today at a hearing to to determine whether the tho merger of Armour Co and Morris forns Co created a monopoly or lessened competition in ir the met meat I packing industry Mr Ir Smith furnished illustrations of ot what he lie called philanthropic activities of or the l Cg g packers He lIe said these consist mainly in re removIng removing removing re- re moving the glut from the tho market market markit mar mar- ket kit thereby l keeping it normal and fair Last Monday fOnday he said the Chicago market was glutted with hogs Of or J these ese 4 were in excess of ot tho the regular demand The packers could not buy them The big packers however I I I having the money and the tho facilities facilities ties stepped 1 in ip and bought up I the entire market at prevailing prices These hese hogs tho the witness said will vill willbe 1 be ha h hold held ld over for a lI slack period in I cold storage storage and he felt lt certain I that It if the smaller packers subsequently subsequently 1 need any they will have ha I Ino I no trouble b buying yIng them at a fair I price I II I |