Kansas City journal. [volume] (Kansas City, Mo.) 1897-1928, 1899-09-07
MANY CORPORATIONS OBJECT TO
ANSWERING KANSAS QUESTIONS.
MAY LOSE THEIR CHARTERS
THE STRANGE STATEMENT OF AN
ARMOURDALE CONCERN.
kansas City Packing Houses Did No,
Declare Any Dividends Last
Year, but They All Have
Large Individual Prof
its Accounts.

TOPEKA. Sept. s-(Speciale The re-
ports of some of the big corporations of
the state now being filed with the secretary
of state are not in accordance with the
new corporation law, and Secretary Clark
proposes to bring those concerns to time.
The law compels corporation organized
under the laws of Kansas to make a state
ment showing its financial condition, its
volume of business and its profits. For
eign corporations are also required to file
similar statements in order to do business
in the state. Many of the companies evil
IDENTIFY don't understand the matter are
trying to evade answering the questions
propounded in the blanks sent to them. 1t
is against these companies that the sec
retary of state will direct his attention
and probably invoke the law. The state
ments are made under oath. Many OF them
do not show the true condition Of the COM
panies.
One of the concerns with which the secre-
tary Of state will have seance is the Kan
sas City Desiccating and Refining Com
pany, of Armourdale. Its statement shows
| that 1t owns sl0s,o00 worth Of property and
| pays only s525 in taxes. 1t also shows that
no officers are paid salaries, and that only
$3.50 was paid for labor last year. 1t has
| a profit and loss" account of over S2G0,0o0,
but doesn't mention where the money went
to. The report is not at all what the law
requires, and the company will be asked
by Secretary Clark to file a new report in
strict accordance with the law.
Corporations generally are very slow in
filing their reports. Their procraStination
is liable to get them into trouble. They are
not only deprived Of standing in any court
as long as they refuse to comply with the
| law, but they are liable to have their char
fera pkaH he riy nf
state.
The attorney general will be directed by
the secretary in a short time to proceed
against all of those companies which have
not complied with the law to annul their
charters.
Three of the five big packing companies
| of Kansas City, Kas., have filed reports in
accordance with the new law-the Armour
| Packing. Company, the Schwarzchild &
| Sulzberger Packing Company and the Cud-
ahy Packing Company. The Fowler Pack
| ing Association, which owns the Fowler
packing house but leases it to the Fowler
Packing Company, has reported. but it
does not cover the operations of the plant.
The Swift Packing Company and the Fow-
| Ter Company. which operates the Fowler
| plant have not yet reported.
According to its report the Armour Pack
| ing Company has a paid up capital of
$4,000 1t owns S973,2S5 worth of real
estate and ss,097,7s7 in merchandise, stocks
and bonds. 1t declared no dividend last
year, but has s2500O0 surplus and si5o,coo
in undivided profits The gross profits -Ia on
gated s3.2S3.96 1t paid in officers salaries
ana clerk hire and for labor, 81. ,9S9. 1t
also paid sl51, in insurance and interest
company is held by the six Armours and
| three local men, and there is none on the
| market for sale.
| pany is New York concern and it filed
| a report of its entire business. 1t has a
paid up capital Of s4.sla, Ss5 and owns a,sl;-
ued at sl,5S6,64S Its surplus and undivided
profits account amounts to sl,691,51l. The
profits for last year-s710 0o6-were carried
| to the surplus account and no dividend
was declared.
The Cudahy Packing Company, an Illi-
! nois corporation which has just purchased
ahere aha Is haS has eaptsl of f oWns
s15s.s17 in real estate. sl,sS2, ,44s in personal
in merchandise IN I It's prots iast n
year amounted to 2s6,719. which was car
| ried to the surplus account. 1t paid no div
.2o2 sss for clerk hire. sl,o2l, IL for labor,
| 34.206 for insurance and s14,634 for taxes
The Fowler Packing Association in its re-
port declares that it h has Gso capital of s7Oo.
| does not operate the plant. Its report
says This association is not engaged in
| manufacturing or merchandising. 1t owns
| the real estate and plant and leases the
| same, but owns no other property. BY
the terms of the lease the lessee guaran-
| tees and pays the interest on bonds of
| the association, amounting to $4,000 per
annum makes the necessary repairs and
pays the association a percentage of the
| surplus earnings above the operating ex-
penses. But the earnings for the year
ending June 30. 1899. were not sufficient to
yield the association anything for rent
| above the payment of the interest on the
bonds"
| The company that operates the plant
will be called upon also for statement.