Chicago eagle. [volume] (Chicago, Ill.) 1889-19??, 1907-08-17

"Chicago Securities" for 1907. pageS
$50, $40 and 341, gives the following
facts about Swift 4 Company, that
grcat corporation which the Board Of
Assessors could only discover $1,000.
600 belonging to:
Swift 4 Corppany---Organized April
I, 1885.
Capital Stock, s5O,oOoOoo. oil Of one
class, Of the par value Of 500 per
share.
Dividcnds--Scvcn per cent per an.
mum In quarterly dividends Of 1M per
cent, January. April, July and October.
Earnlngs-The report for the year
ending December 81, 1905, shows net
earnings were equal to II per cent
on the capital Of SJO.O0OOOO. After
payment Of the regular Z per cent
dividend, there was added to the sur.
plus account $2.5OO.OOO equal to 8 per
cent on tho capital stock, increasing
the total surplus to $1?,408.O06. The
company's gross business was consid.
crably over 1900. 100000 and the item
Of quick assets was increased $685..
T32.
The balance sheet OF December 81,
1905, shows total OF assets ON hand
Of $02,710.S47.
And this Is tho concern that ls taxed
on one.fifth Of 100000!
The "Quick assets" Of this concern,
that Is. personal property available for
immediate use as money, was listed as
follows on September 20. 1906:
Cash ................... 3lOO'OO.
Accounts receivable ....... ?0,33O.S0l
Inventory ....'... s'.''.. si'o"s'o'f
stocks aud bonds ........ 11,40S,SOo
Tho personal property OF this con-
Germ, Increased from $i?,10S,l4O In
1904, to $i0.S2O.007 In 1905, ana from
the latter figure to SG5.35i, 100 In 1905.
This Is exclusive Of the capital stock
Of S5O,OOO,0OO.
Making a total of personal property
owned by Swift & Company In CHI
cago ut the beginning Of 1907 Of over
Sl15.OOO,OOO.
And vet the Board Of Assessors value
It's holdings ut only 100000 and tax
It on one.ffth Of this amount.
What do you think Of that?
~
Swift and Company, the corporation.
should pay taxes ON Its $5O,OOO.OOO
capital stock according to the laws OF
Illinois.
The assessors have listed Its per-
sonal holdings at only 100000.
Nor 10 this oil
Swift and Company, Of Illinois, that
great corporation capitalized for $780,
100000 should pay taxes on every dol
lars worth OF stock 1t owns In foreign
corporations.
Has the Board of Review ever taken
any steps to ascertain how much the
corporation or Its officers own In cor
poratlOns outside the Slater
Perhaps we may help them by quot
Ing the following list Of outside COR
poratlons owned by Swift and Com
pany, OF Illinois, according to the re-
port of the United States Commission
or of Corporations:
Swift and Company, Of Maine, a cor
poration which sells the output Of Swift
and Company, of Illinois, In the New
England States and parts Of New York
and New Jersey. and owns a control
ling interest In the firms Of the Swift
Beef Company, of Boston; G. +. and
L. G. Swift, Boston; G. +. Swift and
Company, Boston. and N. p. Hollis
and Company, Boston, Massachusetts.
Swift and Company, Of West Vir
ginia, which operates many branches
In several different States for selling
beef, pork, mutton, canned goods. etc.
etc.
Swift and Company. Of New York
which controls a large number O
branch houses In the State Of New
York, all doing a big business
Swift Fertilizer Works, engaged 4
manufacturing fertilizers In the Stat
of Georgia.
Swift Refrigerator Transportatlo