Packers More Prosperous

The packing industry, Chicago's greatest business and one of the farm bloc's principal objects of attack, is facing better times, according to Chicago advices.

The industry suffered rather than benefited by the War, since it was practically under orders to feed the armies, with prices arbitrarily fixed. After the War, huge government stocks of packers' products were sold in competition with current production; both prices and profits fell. In addition, the cattle raisers experienced severe deflation, promptly blamed the packers for it, set in motion numerous harassing legislative measures against the industry.

Last year, this serious combination of ailments began to abate. Government stocks were liquidated and off the market, raw material prices were low, consumption increased. The packers absorbed large amounts of live stock, and succeeded in selling their products in volume here and abroad. Europe, despite her difficulties, has to eat and the relatively low-priced American packers' products have been well received.

The packers have been further handicapped by the fact that their two principal by-products--hides and fertilizers--have had miserable markets lately. The recovery of agricultural conditions last year has, however, made the fertilizer outlook much better than it has been since the fatal break of 1920.

In 1923, livestock received at the Chicago yards totalled 18,543,000 head, a record volume; their value of $500,000,000 exceeded the similar figure for 1922 by $20,000,000. The turnover of the packing industry for 1923 is estimated at $3,000,000,000.