Chicago eagle. [volume] (Chicago, Ill.) 1889-19??, 1907-09-14

"CnlC0g0 SeCurItlcS IOT lUss puSeS
$50. $40 and 341. gives the following
facts about Swift 4 Company, that
prcat corporation which the Board Of
Assessors could only discover $1,000.
600 belonging to:
Swift & Company-Organlzcd April
I, 1885.
Capital Stock, s5O,OOo.O0O. all Of one
class, Of the par value Of 500 per
share.
Dividends--Sevcn per cent per an.
mum In quarterly dividends Of ~ per
cent, January. April, July and October.
Earnings-Thc report for the year
ending December 81, 1000. shows net
earnings were equal to ~ per cent
on the capital Of $5O.OOO,OOO. After
payment Of the regular Z per cent
dividend, there was added to tho sur.
plus account $2.50O.O0O, equal to 8 per
cent on the capital stock, increasing
the total surplus to $12,400OO0. Tho
.company's gross business was consId'
erably over $500 900 md the item
Of quick assets was increased S15,0o3,.
v32.
The balance sheet of December 81,
1000, shows n total Of assets on hand
Of $O2.7lG.Si7.
And this is the concern that Is taxed
on one-afth Of $3,O0OOOO!
The "quick assets Of this concern,
that IL, personal property available for
immediate use as money, was listed us
follows ON September 20, 1900:
Cash ,....................S 00,009
Accounts receivable ....... :0,3ao,sOi
Inventory ..... ...... 2l'Itt'o1f
Stocks and bonds ........ 11,40s'sOo
Total .,........... 1896, 35i, I'D
The personal property Of this con-
Germ. increased from $i2,10S,14O In
1901. to $40, SoO,007 In 1905, and from
the latter figure to $G5, i,7?O In 1905.
This Is exclusive Of the capital stock
Of $5O,COO,OOO.
Making a total of personal property
owned by Swift 4 Company In CHI
caso at the beginning Of 1907 OF over
$115,OOOOOO.
And vet the Board Of Assessors value
Its holdings Mt only $3,0OO,OOO ana tax
Il on one-hfth Of this amount.
What do you think of that?
Swift and Company, the corporation,
should pay taxes on its SoO,OOO,OOo
capital stock according to the laws OF
Illinois.
The assessors have listed Its per-
sonal holdings Mt only $3,OOO,OOO.
Nor IL this all.
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 stems to ascertain how much the
corporation or Its officers own In cor
porations outside the State?
Perhaps we may help them by quot
Ing the following list Of outside cor
porations owned by Swift and Com
DuUy, Oh lIIIuOISS uSSosu'"6 w Ss'S -
port Of the United States Commission
er of Corporations:
Swift and Company, Of Maine, cor
poration which sells the output OF Swift
and Company, Of Illinois, In the New
England States and parts Of New Yorl
and New Jersey, and owns control
ling interest In the firms Of the Swift
Beef Company, OF Boston; G. j. ant
Il. c. Swift, Boston; G. i. Swift ant
Company, Boston, and N. u. Holli'
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 large number o
branch houses in the State Of New
York. all doing q big business.
Swift Fertilizer Works, engaged Il
manufacturing fertilizers In the Stat
Of Georgia.
Swift Refrigelutor TranGDortatiol