Ben Roberts
Well-known member
I will be quoting here from, The Investigation by the Justice Department, for the Federal Trade Commission in 1917, it was this investigation that created the Packers and Stockyards Act of 1921.
" This investigation and the passage of the Sherman Act, however, did not long prevent the big packers from combining, for it was admitted by Henry Veeder under oath, in 1912, that from May, 1893, until May, 1896, representatives of the leading packing companies, Armour & Co., Armour Packing Co., Cudahy Packing Co., G.H. Hammond Packing Co., East St. Louis Dressed Beef & Provision Co., Morris & Co., and Swift & Co., met regularly every Tuesday afternoon in a suite of rooms leased in the name of Henry Veeder, who acted as secretary and statistician of these meetings. It is interesting, in view of certain important evidence developed in the present investigation, to note that the rent for these rooms and other expenses connected with these meetings were apportioned among the packers in proportion to their shipments of dressed beef. At these meetings the territory was divided and the volume of business to be done by each packer was apportioned upon the basis of statistics compiled by Veeder, penalties being levied when any one of them exceeded his alloment in any territory. This was the first of the so-called "Veeder pools", conducted, it should be noted, by the same Henry Veeder whom we find acting now as the joint agent of the "Big Five" in verious transactions."
Best Regards
Ben Roberts
" This investigation and the passage of the Sherman Act, however, did not long prevent the big packers from combining, for it was admitted by Henry Veeder under oath, in 1912, that from May, 1893, until May, 1896, representatives of the leading packing companies, Armour & Co., Armour Packing Co., Cudahy Packing Co., G.H. Hammond Packing Co., East St. Louis Dressed Beef & Provision Co., Morris & Co., and Swift & Co., met regularly every Tuesday afternoon in a suite of rooms leased in the name of Henry Veeder, who acted as secretary and statistician of these meetings. It is interesting, in view of certain important evidence developed in the present investigation, to note that the rent for these rooms and other expenses connected with these meetings were apportioned among the packers in proportion to their shipments of dressed beef. At these meetings the territory was divided and the volume of business to be done by each packer was apportioned upon the basis of statistics compiled by Veeder, penalties being levied when any one of them exceeded his alloment in any territory. This was the first of the so-called "Veeder pools", conducted, it should be noted, by the same Henry Veeder whom we find acting now as the joint agent of the "Big Five" in verious transactions."
Best Regards
Ben Roberts
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