34 IOWA DEPARTMENT OF AGRICULTURE. 



tions where there are two elevators already, and where it does 

 not seem necessary to put up a third; where there is no more 

 grain to be produced; where there is no need for an additional 

 elevator. I also desire to say, the gentleman I refer to is not 

 here today, because he is with a seed special in the State of 

 Nebraska, and that we expect to run a similar special in the 

 State of Iowa, and hope for the co-operation, and know we 

 shall have the co-operation of Professor Holden and other gen- 

 tlemen connected with the Agricultural College, and with the 

 Department at Washington. What we are anxious to do, is to 

 see if we can increase in any way possible the productivity of 

 the Iowa soil, mines and manufactories. 



Mr. Ames : I would like to make a little statement and ask 

 a question at the end of it. A short time ago I was in Chicago, 

 talking to one of the heads of Swift & Co. I asked him what 

 they made on their investment, if it wasn't 13 per cent on 825,- 

 000,000 capital. No, it wasn't. How near to it? Well, 

 12^ per cent; 12^4, I think he said. How much is capital 

 and how much is name? What do you mean, said he? 

 How much money is invested in the business and how much do 

 you charge for Swift & Co.'s name? He said, there is S17,000,- 

 000 invested in the business and the balance is for the name, 

 for drawing interest on. 



Now, isn't there a good deal the same element running 

 through the railroad company's business, when the people buy 

 their land grants, in making the interest on the investment 

 today? The question I want to propose, — these industries, that 

 have accumulated in the shape of trusts and combinations, etc., 

 that are in my mind, taking more than their legitimate profit, 

 are they not made possible by the private car system now in 

 vogue on all the railroads through the State of Iowa? 



Mr. Delano: I will say for Mr. Ames' benefit that the rail- 

 road transportation companies, or any other business concern, 

 is not seeking means of giving away its money. People talk 

 about rebates, paying excessive mileage for the use of private 

 cars, all that sort of thing, as if they thought we were falling 

 over ourselves to give away money that we take in. There is 

 nothing of the kind, I can assure you, Mr. Ames. 



In the first place, the only reason we use the private cars of 

 Armour, Swift, or anybody else's private cars, is that we could 

 not get their business if we didn't take their cars, and unfortu- 



