Chicago eagle. [volume] (Chicago, Ill.) 1889-19??, 1907-09-07

"Chlcago Securities" for 1907 gives
the following facts about Armour &
Company, OH page $50.
Armour 4 Company, organized un.
der the laws of Illinois, April ii. 1900.
Capital stock, S20.OOO.OOO.
Propcrty-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 Oh Il
large scale.
Although the capital alone Of this
Ircat concern Is S2O,OOO.0OO the asses.
sors could only find S2,50O,O00 Of per.
sonal property belonging to 1t.
The legal tax Oh $2O,000,OO0 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,OO
every year.
This makes a total Of back taxes due
for five years. according to Supreme
Court rulings In other cases, Of Sl,:.5,.
600.
This does not include the amount Of
taxes due present and back Oh 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 &
Company, outside OF Its capital stock
mounts up towards $GO,0O0,O0O and
may exceed that sum, rs this corpora
tion. unlike Swift 4 Company, does
not furnish Its figures to "Chlcago Sc.
curltlcs." Armour 4 Company owns
Il great deal of stock In outside cor.
poratlons, every dollar OF which Is
taxable here In Chicago. Among Others
Armour 4 Company, OF New Jersey.
The following taken from pages POI
ana 202 Of the report Of the United
States Commissioner Of Corporations,
tells us something upon this subject
"The New Jersey corporation was
formed for the purpose of transactins
certain business which the Illinois cor
poratlon was not authorized to trans
act. Armour Il Company, OF New Jcr-
sey operates practically all the branch
houses for tho sale Of beef and other
packing house products supplied by
Armour & Company, OF Illinois. 1t also
owns the Armour packing houses ut
Sioux City and Fort Worth. For con-
venicnce 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
poraton, 1t Is merely necessary to take
the accounts relating to the branch
houses and those relating to the Fort
Worth ana 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 nc.
counts Of Armour 4 Company, Of I'LL
nois."
How long the people Of Chicago will
continue to pay high taxes while con-
Germs like this escape as they do, Is
problematical.
~A
Samuel Mcltoberts should tell all
when called before the Board Of Re,
view.
.[xESSa>
VIII Corporation Counsel Brundage
get after Armour, Swift and the rest
of the boys? Assistant Corporation
Counsel John W. Hill startled his
hearers In the chamber where the
Board Of Review was meeting by de-
claring that he has already secured
sufficient evidence against wealthy tax