Chicago eagle. [volume] (Chicago, Ill.) 1889-19??, 1900-01-06
LARGEST
WEEKLY CIRCULATION
IN CHICAGO.
THE ROTTEN Gas TRUST PAYS
NO IAXESl

President Fred w. Upham Of the
Cook County Board Of Review declared
recently that, in his opinion. the State
Board Of Equalization has about out
lived It's usefulness.
Mr.. Upham made this statement In
discussing the methods by which the
State Board Of Equalization had fixed
the assessed valuation of the capital
stock Of certain corporations In Cook
County. Both President Upham and
County Clerk Knopf are indignant over
the corporation returns made by the
State Board. Not only does the State
Board find that the assessed valuation
Of the capital stock In Cook County ag-
gregates only slightly more than g..
100000, but on the firms which ore as
eessed In these returns 1t 10 said that
not more than half a million dollars
can be collected.
"Of course the fact that the State
Board has passed upon the capital
stock Of Cook County corporations in
this manner is not my affair."" said
President Upham, "but at the same
time want to state that in my opinion
the board has left undone great many
things that 1t ought to have done. In
the first place the Board Of Review
fixed upon the real and personality as
sessment Of the corporations In Cook
County. Then 1t remained for the
State Board Of Equizatlon to assess the
capital stock. This assessment to be
made by the State Board included only
such corporations as were not actually
engaged In manufacturing.
1.-THE capital stock committee Of the
State Board first sent out circulars to
the corporations informing them Of the
assessment to be made and requesting
an estimate Of their capital stock. After
this the assessed valuation was made
and sent to the County Clerk, who IL
now working on 1t. In my opinion
there IL little to be said about the way
the State Board OF Equalization acted
In this matter. The work OF the board
shows for itself. A lot Of wind cor
porations are included in the list of
assessed valuations Of capital stock
sent to the County Clerk and I predict
that not more than half million dol
lars can be collected from the million
dollar valuation set down by the State
Board. The State Board of Equallza-
ton has certainly outllved Its useful
ness. 1t Is fact that while the board
was in session at Springfield flock of
corporation lawyers were In that city
attending 10 the interests Of their con-
Germs"
Among the corporations which are
not included In the list sent by the
State Board Of Equalization to County
Clerk Knopf are the Peoples Gas,
Light and Coke Company, with a CAPT.
tallzatlon OF so, 100000; the Chicago
City Railway Company, $4,000, 900;
the Chicago Edison Company, 5000
600; the North Chicago Street Railroad
Company, SO 1000, 900; the West Chi
cago Street Railway Company, 500,
OOO,OOO; and the Pullman Palace Car
Company, which was assessed last yeal
at S241 ,267. 1t is stated that there are
dozens Of other corporations which
should have been assessed on theii
capital stock, yet which are not on the
State Boards lists.
II am not worrying over the STAT
Boards laxity," said County Clerl
Knopf. 1T il a matter that does moi
concern me. Stlll, the figures Of last
years assessments, as compared with
this, will show that a number OF cor
poratIons We're assessed on their CAPT
tai stock last year which are not men
toned this year"
Reviewers Meacham and West coult
not be found. Mr.. Meacham was Out
OF the city and Mr.. West was not al
his office during the forenoon.