Chicago eagle. [volume] (Chicago, Ill.) 1889-19??, 1900-10-20

The Republican Board of Review has !
contributed TO the financial difficulties
of the city administration by announc.
ing that the valuation of all real prop
erty within the bounds of the Union |
Loop will be cut 20 per cent. Conster-
nation reigned ut the City Hall when /
the news of the reduction reached
there. and it was admitted on all sides |
that retrenchment would have to be
made in all directions.
The action of the Board of Review
means a decrease Of $7O,OOO,OOO Of full
market valuation In South Town real.
", and the effect. added to that OF the !
scaling down Of 30 per cent on all city
personality. will be a most sensational
reduction In the revenues OF the city
and other taxing municipalities. In
totals the result of the work of the
board appears in reduction OF all
kinds of property In Cook County In
valuation from $1,S15,OO0.OOO to ST..
dSO,OOO.OOO at market rates.
Acting Controller Frost was astound-
eli when he learned of the additional
reduction. lie says that the city Is
now struggling desperately to keep Its
head above water. and that despite Its
efforts to cut the budget In the amount
of S7OO, 900. that the additional reduc-
ton to be made by the Board Of Re
view will add at least S24O,0O0 to the
required cut of 100000 asked by the
Controller.
The decrease comes as a climax 10
the lalors of the Board Of Review, and
with IL the list of cuts Is completed.
In 1899 the board found that the real
estate Of Cook County was worth ap.
proxlmately $1.5lO,OOO,OOO at a fair
market valuation. This sum has al
ready In 1900 been reduced TO almost
exactly 81. 255. 100000. and the contem.
plated step In relation to loop property
will further reduce Cook County real
estate valuations for taxing purposes
30 but Sl,ls5.OO0,OOO.
In personal property the board has
also changed valuations In the same
sweeping manner official action on this
being delayed until next week. Cook
County personality in 1890 was valued
in round numbers. at S3G5, 100000. of
which Chicago was credited with S3il..
900 900, at fair market valuation.
Reductions have been made, or are In
contemplation. which will cut this fig
ure down TO about $685. 100000,
The effect OF the reductions will fall
most heavily on the city and the park
boards. Last year, when the Supreme
Court destroyed the vital part of the
new revenue law by declaring uncon.
stimtiOnal section 40, providing llml.
cations in the levy, advantage was
taken of the situation by many of the
taxing bodies, and by none more than
the CRY and park boards.
While the taX-dodging down town
millIonalres are lowered business men
are raised.
The consideration given trade lines
within five days last past has resulted
in many individual Increases of valua-
ton OF personal property by the board,
among the changes being Sears, Roe.
buck * Co., general merchandise, rails
ed from $4,000, as given by the As,
SCISSORS, 10 S3JO,OOO by the reviewers
I.ouGhi Emilio * CO., wholesale gro
GERS, from $3.50 10 $4,000; Durand 4
Easper Co., wholesale groccrS, from
Sj2S0OO 70 $500 American Straw
hoard Company, from $500 10 SO,
StD, Presbyterian Board of Publ!ca
ton and sunday School Work, from
$1,000 % $1,000; \. Booth X CO., fish
from ST. sl7 10 SlJ0,O00, and Warder
Bushnell & GleSsner Co., agricultural
implements, from $4,000 10 100000
~SA
Daniel W. Mills, the Republican can
dIlatc for Congress In the Fourth Dis
ipr.I Ia. q. r.g.rl