The Indianapolis journal. [volume] (Indianapolis [Ind.]) 1867-1904, 1899-07-07
CHICAGO TAX WORRIES.
Marshall Field Pays a Quarter Million
some of the Dodgers.


Chicago News.
Marshall Field as individual and the
firm of Marshall Field & Co. will together
pay over a quarter of million dollars taxes
in Cook county on ss7.OOo.Oo0 of personal and
real property So far this is believed to be
the largest amount assessed a fair cash
value against any firm and individual COM
bined. Mr.. Field personally will pay on a
cash value of personal property of sl.250oOo.
while the cash value of Marshall Field &
Co. is properly fixed at s5,000O00.
The real-estate holdings of Mr.. Field and
of Marshall Field & Co. are worth at cash
valuation s2o0o0,O0o. The assessed value of
the total CT s26, 10000 cash value is SEQ
900. No schedule of personal property was
filed by the merchant for himself or the
firm and the assessors fixed the amount of
IS, 10000 personal property for both and il
is understood no objection will be made to
that valuation.
The Diamond Match Company, with a cap
ital stock of sl1,oOO.OOo. filed a schedule of
only $4,000 and the assessors sent for rep
resentatives of the company, but could find
no ground for increasing the amount of tax
able property.
The assessors are not entirely satisfied in
all cases where schedules are filed but they
ask: What can we do?" For example,"
said Assessor Miller, "a firm scheduled
81 900 of personal property. 1t was rated at
I'VE sent for members Of the firm and
they said that S11 900 was all the money and
credits-all the personal property in short
which they had and that as for the rating
everybody wanted a good rating. out 1t
didn't amount to anything as determining
a persons or firms taxable property. We
had to let II go at 100 because there was
no proof that the firm owned more.
There are thousands of such cases and of
cases where no schedules have been filed on
the books we are examining and all we can
do Is to estimate as best we can. We may be
very far off, either putting the figures too
sThe big grain elevators of Chicago have
neglected TO file a schedule with one excep-
ton. That exception Is the Chicago Dock
ness. 1t scheduled $4,000. How to get at
the wealth OF those elevator companies
which have ignored the law Is a serious
problem to the assessors.
They have learned that April there was
in the elevators of Chicago which do an ele-
of grain. while in other elevators. which do
other business in connection with the ele-
vator business. there were q .00oo 900 bushels
estimated by the assessors at the fair cash
value of % cents per bushel, as the grain
includes corn and oats.
This would give 100000 as the assess
able value of the grain IN the elevators
April /. but the elevator companies have
machinery and other property and the as
of the puzzle as before they began figuring
on the grain in storage"
Very little of the burden viii fall on life
those organized in Illinois. Organizations
whose home offices are in this State will
pay fair taxes because their investments
| are chiefly in Illinois, but the fire insurance
companies which claim Europe and the East
as their homes plead a loss in Cook county
for the first six months OF the year and
no ar mr.
with few exceptions. in Cook county April 1.
| The life insurance companies generally
| scheduled. but put their personal holdings
| in Cook county at low figures in each case
| The New York Life Insurance Company
| scheduled 500 as the value of Its personal
property in each of ten offices in Chicago
The assessors say that life insurance COM
panies generally have high-priced office fur
niture, many Eastern companies paying $50
| is content TO sit at one costing $35. and that
| this known fact and the reports OF the COM
panies that they had no money in Chicago
banks April 1 are subjects for the board of
review TO look into. The assessors consider
| that they are obliged to accept schedules as
filed. but that the Board of Review has
Railroad and telegraph companies ara
| also giving the assessors some trouble. The
/ Postal Telegraph and Cable Company has
scheduled s2l 500 only as the amount of its
personal property. The assessors think this
| looks small. but IL their ruling that they are
/ bound 10 abide by the schedules filed is adj
hered TO the amount of work already cut
out for the Board OF Review is very large.
/ considering the time at that bodys dispos-
| al. The schedules filed by the railroads are
/ characterized as not thoroughly satisfac-
| tory, though great part OF this unsatisfac-
/ tory condition Is due to the fact that the
| assessors cannot tax franchises. and roll
| ing stock and other personal property Is
| included in the capital stock Of franchise
/ corporations.
4 Schedules of personal property which at
! tracted the particular attention of the as
SCISSORS because of the prominence OF the
| parties Ming them were those OF Mayor
| Harrison. who this year scheduled 8. 500 and
| paid taxes last year en- $1,000 and Con-
| troller kerfoot. who scheduled S2,775 and
paid 500 last year.
John X. Walsh, Norman Williams. who died
| lately, W. Il. Walker and the A. Booth
| Packing Company all failed to file schedules
and the assessors fixed the cash value OF
their personally at 100000 each for Mr..