Chicago eagle. [volume] (Chicago, Ill.) 1889-19??, 1907-08-10
Enormous Holdings by Armour People in
Big Concerns Outside Chicago Attract
Much Attention.
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

Chicago Securities for 1907 gives
the following facts about Armour &
Company, on page $50.
Armour & Company, organized tin.
der the laws Of Illinois, April IA, 1000.
Capital stock, $2O.OOO,OOO.
Iroperty-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 S2O,OOOOOO the asses
sors could only find $2,5O0,OOO Of per.
sonal property belonging to 1t.
The legal tax OH $50, 100000 Is $780,.
600.
The tax on s2,5OO,OOO is $4,000.
So the people lose In taxes on the
capital Of this concern alone $2i5, 900
every year.
This makes total Of back taxes due
for five years. according to Supreme
Court rulings In other cases, Of 81 ,225,.
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 number Of other equally val.
liable concerns owned by 1t.
The personal property Of Armour 4
Company, outside Of Its capital stock
mounts up towards $GO.O0O,OO0 and
may exceed that sum, Us this corpora.
ton. unlike Swift & Company, does
not furnish Ito figures to Chicago Sc
curities." Armour & Company owns
a great deal Of stock In outside cor.
pOratlons. every dollar Of which II
taxable here In Chicago. Among others
Armour 4 Company, Of New Jersey.
The following taken from pages ?01
and 202 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 transactlng
certain business which the Illinois cor.
poratlon was not authorized to trans.
act. Armour Il Company, Of New Jer.
sey operates practically all the branch
houses for the sale Of beef and other
packing house products supplied by
Armour & Company. Of Illinois. 1t also
owns the Armour packing houses Mt
Sioux City and Fort Worth. For con.
venience the accounts Of Armour &
Of New Jersey are carried
ON the books Of Armour & Company,
Of Illinois. 10 ascertain the business
Of tho New jersey COZ.
poratlOn, 1t IL merely necessary to take
the accounts relating to the branch
houses and those relating to the Fort
Worth and Sioux City packing housed
The company, however, 10 genuine
one, having large actual assets Of It's
own, not a mere paper name. It has
no separate books and no profits sep.
arate from those appearing In the &C.
counts Of Armour & Company, Of I'LL.
nOis."
How long the people Of Chicago will
to pay high taxes while con.
Germs like this escape as they do. IL
AA
Samuel McIOberts should tell all
when called before the Board of Re.
view.
~6
VIII Corporation Counsel Brundage
get after Armour, Swift and tho rest
Of the boys? Assistant Corporation
Counsel John w. Hill startled bis
hearers In the chamber where the
Board Of Review was meeting by de-
claring that he has already secured