AWAITING PAPER MAKERS' PROFITS DISCLOSURES.
PUBLISHERS ARE CONFIDENT THAT THE WAR REVENUE BILL WILL CAUSE CONGRESSIONAL ACTION.
BY WALDON FAWCETT.
A new ray of hope has been discerned on the Washington horizon by some of the newspaper publishers who are praying for relief from current news print prices.
The latest sign of succor i* found hi the disclosnrcs that wiH shortly be made as to the profits of American paper manufacturers. The logic of the optimists is that once CoriKrrs^ has a peep at the gaiM of -the news print producers that h. will bir tiiorc kindly dllVOMd twmrd ^OOie fKB of Federal price fixing or price regJilalion. „ , . . . . , ,. As thoih Mod were tB CMM^OVt of e»tt It ofbe working o that self-same War Revcouc Lmr flmt tapoM* saeb a Imrtenupon PuW^'hcrs who Me the noood dan that la eonntad «poii to ttaed new and con-
- Uifat apOB die profit* of the paper nuikcn.
Conere^s nr th :<.i- cr.nmif.efmrn with whom mm: orlirinntr ..ry rn>ve f»r legislative rcKul'i""" "'^ pnper indinliT' >. i. Kew»pii<-er i«Ali9hrr« who have heen on the firinn line at W»»hiii«ton ditrinir the time that the news pnnt dilemma ha, been under di_»cu»«<io arc wr!! :.».ire lhat noAwj taS •ecinrrl -.r. iiKirf dcrnlj- inniCia lOtll ConKTM5nirn and nlTici.ili l« the i^cutivf rlrpanmrnii ih.in evidence a* K. thr pr;>fitii the P-'P'" m»Vin»r and distrihotinii iniercsts h.ive been drawinit down. To be sure, onlv a Kmited amount of wch rviJcncc ha» th«» far been avail.-.Wr l.iit ■■nrh ■'cxhibtwi a* ha»e been avail.^Hr have stmcW home. Reader* of Tin: ForuTii EsTATr. who have rc:id the report on Gnv^ emment conlrol and reinil.ilion ol the print paper indmtry made by .Senator Smith of Anions from the tTdilcd Slates Senate Committee on Printinir eoald not fail to note the »trr»« that was laid upon the vast profits" of the r-iper compsnie*. Thr citation of thr !l>li' i>rofi:5 of the Internalionril Paper Company and the Ijiirenlide CMnpany of Can- ada wa< not anr ebancc reference, but was intended by Senator Smith ai perhans his most damninK evi- dence Incidentally lhi« peep .it tirofiteerinif h nhrewdly desiCTcd to hrslir iscne'^' cntioiitv in Con^rrt* a* to wlielher the lavinli profits of Ifllfl have been further increaned in inn. . , Whereas the reix^rt made to the Senate in the rlotins d.iyi of the (peviai sestion took account only of the Inlernatiooal's phenomenal sniirt in net eaminRS dnnnt the year IbIb if in no necret that the joint eom- mittec on printing has been (oio* deeper into this siibjeet and has ob- tained some illtiminatinR fiirires with respect to the inflatr-l s 'p'u* that the International Co-i n . h inled up since the war-time prriiper'.ty h" the industry. PAPra roiip.ANirs' si'ri.t'S. AccordinR to information in the posiCMion of Senators the nurpliis of the Intern.itirnnl has lumped from $RI4,flOfl in the vear IIHVS to consid- erably more than J Ifl.mKl.OriO at the present time. It was bccau«- of thi% that Congre aa men only smiled when President Dodite. ordered to supply news print to the riovernniint at the price of 2'^ cents for use In pflnt- tne the Official Bulletin, protested that the fiE-ire named "is not a price which will dive ihi« company a i.T.-rir •• It i« anticipated that more fuel will be added to the Aamca when the PadMil Ihoda OiioiaiiiinB ittsMO la Aa aaar IMuse na Uisder the corporation tax system that iiaa been in force for several year* paat the United Slates Govern- ment has, of course, had more or Ui9 data as to the net incomes of all conorntit>n.i. including the firros engaxcd in the n'.anufaclure and sale of print p.'.iier However, ihf in- furmatifn hrTi-lofore on file s as '%ine, on (*r senr,- p/ camftrlr- mth lAol it*ic* v-'M now be- ODaflaMg l*ri*iipb M« *Mt iw- Mfiu cMwrfwf "mtem ffftt, Jar- f tus. tic. . _ . Furthermore. Uncle Sam is going to KTOiiniie with a rigor heretofore unknown the ilein« of good-will. Irade-in.irk valuation, etc.. which mamifnctiirers -ire wont to dedwt in fignring net in.-: rriv In other word?. th* searehUaht ii rt> !urn,-d ufen "inUneiilfs it "'irr to m<i*r jm'c OiM l4*r» haw ^'i/" Pi' nring froflt. . „ . Publishers who have fallowed cIomIv the Federal TMde C i lnal Mi lB i B inientigation and the whole contro- ^er'sv over ne»< print prices are con- fiilmt th.U when we Ret down to brass tacVs it will be revealed that ihe toll the pa|>er makers have been taking from the publishing industry ha« been and is today much heavier than the ■verafla CBinimaiin has any realixa- Mon of. What is going to make the diadoe- ure« e»' cci.illy convincing HMt 1»- der the «»lem to be followed by the Bureau of Inlern.il Revenue in oom piitinR anil collectifut "exce*; p'ofiti" or "war profits" taxes it will he ch- senlial to figure and cnn-.pare i^rofits in the pre-war period witn pnifits made by manufacturers •lincc the war he (ran. Thai means lhal Ihr farningi •!m*'M-.1>l fafcr n>i!U in Ihf .m^- f,,»edl normal y'yx" •■f IIMI. U>12 and I6|3 ntll be set in deadly parol- M aaafafi «*e rake og dimmg WW midnn, ahtn ntwt H"* poaLic vaoaaavT. The piihlishem who are counting on the moral effect upon Congre»» of the tale thai the tax figure* will tell are not siipposin?. you may rest assured, lhat these figures will he- come public property and thus be brought to the attention of the na- tional lawmakers. It is realised full well that the in- formation obtained by the Internal ■Rex-enue Bureau in connection with the a*«se«i5ment and collection of the new tlx will he held confidential. .M the name rime r* i^ Selieved that if the xfatisltcx alTi-ii ! i-frr.i-r ;i« iri- norlant as i> arnirir ,ied a •r,.iv ra:iy h« fonnd for the Treasury Depart- book paper industry and shows in de- tail the fwn!!en prrtftts made by this class "f p"'-loicr> As incnii;iri.iifu; evidence on the profiln <r< I lii. -inn the !-eder.:il offi- cials have rir-:nl!v come into pu%- session ol interesting balance ihects covenns what is accounted one of the best-cqnippcd and roost modern paocr mtUa in the country. TMr iJkMW thai in the cate of the caneam mentionrd — with a capital stock of oiity $300,000— the net eam- inas inmped from tl.S,0<IO in 1918 to $30,000 in 1013: to $SS,000 in 1914 went back to $SO,000 in 19l.^> and soared to nearly SlSBfMW in 1»16. one paper SMMifictuier -wseM lo ■Iccfwlr. .Nor auiit H .be folgBtlen that the exalted net orMla that most of the siaper-pmducing pt«se.lttics . have Utely been reluming r^Kacat "vel- vet" after the deduction of all inter- est charirr*. One of the experts . f the Federal Trade Commission recently told the ■writer diat in some inMances paper mills have bonds outstanding in amount* in excess of the total valu- ation of the planta th«a aavaiail by Dortgafc. That is to sar. the pwKc is holding the luig "DRYS" TO DO BIG ADVERTISING. llM^ Joj^ Sacndaot N EV S P M • i : R ( 1 . .N A O K S HI P. FrDni the I'hila.khlu.. Kvcninj Bulletin Mr. Hurleson might do better if be were not to attempt too anicfa detail in preacrifainc the mica of ccnaorship which the Poetmaster Gearal may en- force under the new "HnidlBC with the enemy" act. Censorship is unpleasant, hot it is necessary in the circumstancci of war. Broadly staled, it generally is recognitcd that [niMii atiur. which is calculated to <lr;r.-.t ■ r ob^lnlct the nurpone of the Uoveroincnt in carry- ing on the .war is improper and nhould be prevented. , Rut it ia not easy to formnlage in advance a complete catefOfjr ol gocb improper publication, or even to iU lu»tT.^te definitely what may. or may not. be put in pnnt. especially in the cxiirexmon of opinion and in the cour<.c of disciis-ii. If. (ienernlly, the .:t.i rn:jn newspaper prns has uassed careful iudgment on its publieation. either of opinion or news, since the war began, and such occasion a* (here has been lor interference from Waahington has , been in a very limited group of pa- ipers. where deliberate motive hai at leaxt seetneil »o .1! parent that repres- sive and even punit:ve ine.xsure* havx I no excuse or argtimentative juslili- cation. But for the great body of printed public.ttion in the United States, there is little need of oflvcioux re- straint, and the lea* thai is said of censorahipk the belter Such disci- pline as shall be required for nccca- «ary rrstraint and regulation can hc far more effectively administered aa individual cases shall warrant than by the promulgation of a code which cannot l>e comi>rehcn»lvc in detail islthout being unjust and oppressive. HUTCHINSON STAFF SHIFTS. Oester Leaaurc, former advertij- ing manacer of the Hutchinson (Kan.) Gaiette and previously pub- lisher of several small Hailiea and weeklies, has bctoitie nianaKinti edi tor of that paper, succeedinji John .Schwinn. who 18 attending ' cen trainiac camp at Fott 111. ^ l.eo Baddely nf_ the advertising force in nav advertising manager. Helen M. Hayes, society and gen- eral asslgnfflcnt editor, has become telegraph editor, succeeding Herljert Waggoner, who has enlijited in the .mbulance Corm. NcUie May Schall from the Law- itMeGagctta ia «llia« Misa Haiea' SEVERAL HUNDRED THOUSAND DOLLARS TO BE SPENT IN NEWSPAPERS. Several hundred thooaand dolhri in newipaccr advenising *VA he xpent wiihm tlic fi- few n-ir.-.h^ '.li fur- ther the jl>r.Iiliiin uf .ill i:ijir.ifac- turc of alcoholic bever.itci-^ w *1 in rhe United States. The n nr.ry iiaj been contributed by prororaem pro- hibilioBiats. Ten men in Philadelphia will be named ait a caatral crausitteo for the adveftUar taaipniga. These ten srfll eeleet the otaen. and the len so named will each have the righi lo nominate ten adiliti mal A committee of one thousand will thus be formed to carry on the work. TO OBT.MV FOOD PLEDGES. Samuel <■',. NfcClure. publisher of the Youngstowii (Ohio) Telegram, has been appointed cbairmaa of a cennmittee to obtain hovseboldens' ple<!|{C! of supiMjrt to the stale foe I conservation movement. TO REPRKSKNT OHIO. George F. Burba, editorial writer on the Columbus (Ohio) Dispatch, was one of Ohio's rcptesentalives .)t the national testimonial dinner to Samuel Gompers in N'cw York on October 17^ E. K. lenklas haa parchascd the Medora (N. IX) Herald from L. G. Warner. Finest Quality FELT PRESS and MOULDING BLANKETS DIRECT from Factory ■ toN^spaper ONE PROFIT Write for prices lo Newspaper Dept. Chas. W. House c# Sons UNIOKVILLKi CONM. Digitized by Google
