Meat Men

Profound economists are glad to speak before conventions of the Institute of American Meat Packers, like the one held at Chicago last week.

Vice President Dawes was there. In private life he is an important Chicago banker, carrying on intimate business with the packers. He said that he had opened so many baby hospitals and Kiwanis clubs that he was glad to appear among the Institute men, even if he were only scenery.

Partner Dwight W. Morrow of J. P. Morgan & Co. quaintly reminded the meat men that in ages past butchers were as lowly, as despised as usurers. Now, he was happy to say, "packers" and "bankers" can associate with professors. This badinage was prelude to a prediction astounding from so august an authority, to wit, that every country of Western Europe, including France and Italy, will have returned to a gold exchange basis by the end of next year. This stability of international exchange is of high importance to packers, who now export, a third of a billion dollars yearly in meat products and byproducts.

Edward E. Jordan (motor cars) said, with his usual crispness: "I have always maintained that the solution of the European problem does not lie in a group of men sitting around a table and figuring out what somebody owes; it lies in the introduction of 2,000,000 Fords and 2,000,000 telephones to cut down the cost of transportation, break down the barriers of language, religion, custom and prejudice. ... I think the most impressive fact in the last year's experience in business is that the industry shipped over 700,000 automobiles to foreign countries." One man was exceedingly happy at the convention. He was Thomas Edward Wilson, who has worked hard on the Institute's educational program. His concern, Wilson & Co., last week announced an initial dividend of 3 1/2% on its preferred stock, the first since its recent re-organization under court direction.