Chicago eagle. [volume] (Chicago, Ill.) 1889-19??, 1907-12-14

Chicago Securities" for 1907, pages
$50. $40 and 341. gives the following
facts about Swift 4 Company, that
great corporation which the Board Of
Assessors could only discover $1,000.
900 belonging to:
Swift & Company-Organized April
I, 1885.
Capital Stock. $4,000. 900. all Of one
class. Of the par value Of 500 per
share.
Divldends-sevcn per cent per an.
mum In quarterly dividends Of tx per
cent, January, April, July and October.
Earnings-The report for the year
ending December 81. 1909, shows net
earnings were equal to ~ per cent
on the capital Of $5O.000O00. After
payment Of the regular Z per cent
dividend, there was added to the sur.
plus account $2,5O0. 900. equal to 8 per
cent on the capital stock, increasing
the total surplus to 81. 400.O06. The
company's gross business wds consid.
crabiy over $200.Oo0,0 900 and the item
Of quick assets was increased $685..
732.
The balance sheet Of December 81,
1909, shows a total Of assets on hand
Of $02, 718,S47.
And this ID the concern that Is taxed
on one-fifth of 100000!
The 'quick assets Of this concern,
that IL, personal property available for
immediate use as money, was listed as
follows on September 20, 1905:
Cash .................. 3,lO,UO.
Accounts receivable ....... T,33O,sOi
Inventory ......... ....''. si'o1'os1
Stocks and bonds ........ ll,4VS'oV
Total ............ .$0o'3o4''s0
The personal property Of this con-
corn. increased from $42,l0S,14O In
1904. to $40, s2O,O07 In 1905, and from
the latter figure to $05,354, 40 In 1903.
This Is exclusive Of the capital stock
Of s5O.OOOOOO.
Making total Of personal property
owned by Swift 4 Company In Chi
.caeo at the beginning Of 1907 OF over
Sll5.OOOOOO.
And vet the Board of Assessors vaiue
its holdings ut only 100000 and tax
q on one-fifth Of this amount.
What do you think OF that'
~
Swift and Company, the corporation,
slould pay taxes ON its $oOOoo"o
capital stock according to the laws OF
Illinois.
The assessors have listed IT. per-
sonal holdings ut only $3,OOOOOO.
Nor Ia this oil.
Swift and Company, Of Illinois. that
great corporation capitalized for $oO.'
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 State?
Perhaps we may help them by quot
Ing the following list Of outside cor
porations owned by Swift and Com
many. of Illinois, according to the re-
mort OF the United States Commission
er of Corporations:
Swift and Company, OF Ma'ne' 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. y. and
n. @. Swift, Boston; @. +. Swift and
Company, Boston, and N. u. 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 Of
branch houses In the State Of New
Cork, all doing big business
Swift Fsrtilisss Works. engaged In
manufacturing fsTllizers In the State
Of 0seeoia.
Sw;::: refrigerator Transvortation