Chicago eagle. [volume] (Chicago, Ill.) 1889-19??, 1907-08-03
The Small Taxpayers Are Very Much In.
terested in the Developments of
This Great Wealth,
Yet the Chicago Assessors Gould Only Find
Two and One-half Millions
to Tax.

"CnlcuSO SECURITIES ZOE lUVS BtNeD
the following facts about Armour &
Company, on page $50.
Armour 4 Company, organized un.
der the laws Of Illinois. April IA, 1900.
Capital stock, s2O,OOO,OOO.
Property-The plants controlled BY
the corporation are the packing houses,
fertilizer works. glue factory, soap fac
tory and hair factory In Chicago, and
the packing houses In South Omaha,
Sioux City. East st. Louis and Fort
Worth. The importance Of the pack.
ing houses and plants controlled by the
organization Is known all over the
civilized world. The glue factory Is
one Of the largest In the country. The
soap factory Is also operated on a
large scale.
Although the capital alone Of this
great concern Is $?O,O0O,OOO the asses
sors could only find $2,5OO,OOO Of per.
sonal property belonging to 1t.
The legal tax on $2OOOO,OOO Is $780,
600.
The tax ON so,5OO.OOO is $4,000.
So the people lose In taxes on the
capital OF this concern alone $945,OOO
every year.
This makes total Of back taxes due
for five years. according to Supreme
Court rulings In other cases, OF $l,!@o''
600. .
This does not include the amount OF
taxes due present and back on the
stock OF Armour & Company OF New
Jersey,
Armour car lines,
Hammond Packing Company,
National Packing Company,
Union Stock Yards OF Omaha,
And a number of other equally val.
liable concerns owned by 1t.
The personal property OF Armour y
Company, outside Of Its capital stock
mounts up towards $GO,OOOWO ana
may exceed that sum, Us this corpora
ton, unlike Swift 4 Company, does
not furnish its figures to "Chlcago Be-
curltlcs." Armour 4 Company owns
n great deal Of stock In outside COR
poratlons, every dollar Of which Is
taxable here In Chicago. Among others
Armour X Company, OF New Jersey.
The following taken from pages I'd
and o02 Of the report Of the United
States Commissioner Of Corporations
tells us something upon this subject:
"rhe New Jersey corporation was
formed for the purpose OF transactlns
certain business which the Illinois cor
poration was not authorized to trans
act. Armour 4 Company, OF New Jer'
soy opcrates practically all the branch
houses for the sale Of beef and other
packing house products supplied by
Armour 4 Company, of Illinois 1t also
owns the Armour packing houses ut
Sioux City and Fort Worth. For con-
venlence the accounts Of Armour 4
| Company, of New Jersey are carried
| on the books of Armour Company
of Illinois. TO ascertain the business
| transactions of the New Jersey COR
poratlon, It is merely accessory to take
| the accounts relating to the branch
| houses and those relating to the Fort
| Worth and Sioux City packing houses
The company, however, Is genuine
one, having large actual assets OF Its
own, not mere paper name. 1t has
no separate books and no profits sep
arate from those appearing In the ac'
counts of Armour l. Company, OF ILL
nois."
How long the people Of Chicago will
continue to pay high taxes while con
Germs like this escape US they do, Is
problematical.
~A
Samuel McltOberts should tell al
when called before the Board OF Re
view.
/ae$
VIII Corporation Counsel Brundagt
get after Armour, Swift and the rest
Of the boys? Assistant Corporation
COUNSEL John w. Hill startled k'
hearers In the chamber where the
Board Of Review was meeting by dc
laring that he has already secured
! sufficient evidence against wealthy ia,