Chicago eagle. [volume] (Chicago, Ill.) 1889-19??, 1900-09-29
The Miionaires Inside the Upiop Loop Have
Been Again Cut Down to Hamper
Mayor Harrison.
The Voters, However, Are wAtbps ibis Thing Closely and
Will Know Who to Blame for Lacking
nlupidpal Improvements.

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
crty within the bounds of the Union
Loop will be cut 20 per cent. Conster.
nation reigned at the City Hall when
the news of the reduction reached
there, and 1t was admitted on al sides
that retrenchment would have to be
made In all directions.
The action of the Board Of Review
means decrease Of $7O,OOO,OOO Of full
market valuation in South Town real.
ty, and the effect. added to that of the
scaling down Of 20 per cent on NIL 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,S75, 100000 to 81
4SO,OOO.OOO at market rates.
Acting Controller Frost was astOund-
ed when he learned Of the additional
reduction. He 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 100000, that the additional reduc.
ton to be made by the Board Of Re
view will add at least $2iO,OOO to the
required cut Of 100000 asked by the
Controller.
The decrease comes rs a climax to
the labOrs of the Board of Review, and
with II the list of cuts IL completed.
In 1890 the board found that the real
estate Of Cook County was worth ap-
proximately $1,51O.OOO,OOO ut a fair
market valuation. This sum has al
ready in 1900 been reduced to almost
exactly $1,255, 100000, and the contem.
plated step In relation to loop property
will further reduce Cook County real
estate valuations for taxing purposes
to but $1,1S5, 100000.
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 personally In 1900 was valued,
In round numbers, at 1906, ,QOO, 600, of
which Chicago was credited with $341,.
100000, at fair market valuation
Reductions have been made, or are in
contemplation, which will cut this fig.
ure down to about $205, 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-
stitutiOnal section 40. providing llmi-
tations In the levy. advantage was
taken of the situation by many of the
taxing bodies. and by none more than
the city and park boards.
While the taX-dOdglng down town
mllliOnaires are lowered, business men
are raised.
The consideration given trade lines
within five days last past has resulted
In many individual Increases of valua-
tion of personal property by the board,
among the changes being Sears, Roe.
buck Il Co., general merchandise, rails
ed from S2I5OOO, as given by the As.
SCISSORS, to $35O,OOO by the reviewers;
Loughi, Emilio 4 Co., wholesale gro.
GERS, from 1885, to $4,000; Durand 4
Kasp"r Co., wholesale grOcers, from
$32S,OOO to $780, 600; American Straw
board Company, from $500 to $780,
600; Presbyterian Board of Publica-
tion and Sunday School Work, from
$1,000 to $4,000; A. Booth 4 Co., fish,
from $51,sl7 to $500 and Warder,
Bushnell L. Glessner Co., agricultural
implements, from $45O, 900 to 5000, 900.
~9A
A man got into a New York fiat and
almost chOked woman to death be.
cause he mistOOk her for his wife. He
was fined $40 by a sympathetic police
justice. It's lucky he didn't kill the
woman. 1t might have cost $5 more.
2pT
Rudyard Kipling announces that the
MOngOls are going to Overwhelm the
world. We are not inclined. however.
to be scared. We believe the white
man Is going to keep right on taking up
his burden himself.
~