Chicago eagle. [volume] (Chicago, Ill.) 1889-19??, 1907-12-28
Over Ninety.two Million Dollars Worth
Of Quick Assets On Hand
Just Now.
Hot to Mention Fifty Millions Of Dollars
in Capital Stock All Paying
Dividends,
And Yet the Board Of Assessors Gould Only
Find Three Millions to
Tax.

'Chlcago Securities" for 1907. pages
330. $40 and 341, gives the following
facts about Swift 4 Company. that
grcut corporation which the Board Of
Assessors could only discover $3,O00,.
600 belonging to:
Swift & Company-Organized April
I, 1885.
Capital Stock, &50,00O.000, oil Of one
class. Of the par value Of 500 per
share.
Dividcnds--sevcn per cent per IN.
mum In quarterly dividends Of ~ per
cent. January, April. July and October.
Earnings-The report for the year
ending December 81, 1000, shows net
earnings were equal to ~ per cent
on the capital Of $50.000O00. After
payment Of the regular Z per cent
dividend, there was added to the sur
Mus account $2,S00.00 equal to 8 per
cent ON the capital stock. increasing
the total surplus to &12,400.O00. The
cotupany's gross business was cons'd'
erabiy over 500. 10000 and the item
Of quick assets was Increased &16.6oS''
732.
The balance sheet Of December 81,
1000, shows q total Of assets on hand
OF $02.71O,s47.
And this IL the concern that ID taxed
ON one.nfth Of 100000!
The "quick aasets" Of this concern
that IL, personal property available Tor
immediate use as money, was listed ~
follows on September 70, 1UOO:
Cash 3lOO'ovs
Accounts receivable ....... 2O'SU.eo.
Inventory ......... ..''''' sI',o
Rtocks and bonds ....... 1l'sOo'ooo
Total ...........'' ::'soo'"o''"'
Th. personai property Of this con-
corn. increased from $A?.10S,l4O IN
iOO4. to $40, soO907 In 1905, and from
the latter figure to $05.354. 72o In 1"oo
This Is exclusive Of the capital stock
Of S5O.00O.OOO.
Making a total Of personal property
owned BY Swift 3 Company IN Cn.'
caeo at the beginning OF 1907 OF oVe'
Sll5OO0.OOO.
And vet the Board Of Assessors vaiue
,ts holdings at only &SOOO.OOo ana 's'
n on one-fifth Of this amount.
what do you think Of that'
~
swift and Company. the corporation p,
sbould pay taxes on in soo:vo"s y.
capltal stock according to the laws VI
.rhs assessors have listed IT. per
.onai holdings at only 100000.
Nor 10 this all A.,
swift and Company, Of illinois, tna'
vrcat corporation capitalized Tor gov:
100000 should pay taxes ON every eol
lars worth Of stock It owns IN 'oFeis'
Has the Board of Review ever take'
any steps to ascertain how mucn TN
corporatlon or its officers own IN COZ
norations outside the Slater
Perhaps we may help them by quot
Ing the following list OF outside COZ
noratious owned by Swift and Com
nany. of Illinois. according to the re
mort Of the United States Commission
er Of Corporations:
Swift and Company, OF Maine, Col
norntion which sells the output OF Sw'f
and Company, Of Illinois, In the Ne.
England States and parts Of New forl
and New Jersey, and owns contro
ling interest In the Arms of the Sw's
Reef Company. Of Boston; @. y. an
Y. c.. Swift, Boston; @. E. Swift an
Company, Boston, and N. D., Holli
and Company. Boston, Massachusetts
Swift and Company, OF West WI
ginia, which operates many branche
In several different States for sellin
beef. pork, mutton. canned goods ete
etc.
Swift and Company, Of New Yorl
which controls q large number
nrAnch houses In the State OF Ne
Cork, all doing big business
Swift Vsrtiliass Works, engaged
manufacturing tsrAlissrs In the etat
Of oeoeo1A.
sw." refrigerator Tfansvortatio