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Show ----- PACKING PLANTS ARE HARD HIT During 1920 our local packing plant went through a financial crisis which had a crippling effect, but the com pany Is now well along the road to full recovery. That this reverse was no: peculiar to any one packing plant Is made evident by the statements of the largest companies in the business. A dispatch from Chicago, dealing j vsiih the affairs of Morris & Co , says: ; "The annual report Is in keepinc with statements previously Issued b other packing house companies in showing the hard year through which the Industrv passed in 1920. For the I fiscal year ended October SO. Morris & Co., showed a loss from operation 1 of $2,935,710, which compares with I net earnings of $703, 641. equivalent to! 23.4 per cent on the 13,000,000 out j standing capital slock in 1919 No 1 a h dividends were paid in 1920 w hereas 10 per cent was pawl in 1919." The large packers have lost their ' millions, but have, been sufficiently prosperous over a period of years to be In a position to absorb their losses. ! Few industries have escaped the business depression or Ihe effect of the extreme financial stringency. |