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*E.g., U.S. Steel's net earnings (in terms of total capital investment) jumped from 5.2% in 1915 to 24.9% in 1917; some of the smaller steel companies made more than 300%; a sulfur company made 236%; the eleven big meat packers, in the three years 1915-1917, made total profits of $140,000,000—just $121,000,000 more than profits for 1912-14.
*This figure has nothing to do with a return on invested capital, is merely the margin of profit per order figured on this rule: "Where the amount of the contract and the profit was shown, cost was determined by deducting the profit from the amount of the contract; where the cost and the profit only were shown, the amount of contract was determined by adding the profit to the cost." In some businesses a 1% margin of profit is adequate; in others 100% may be none too large for an adequate return.