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

"CnlcagO securities fOr 1VUt gives
the following facts about Armour 4
Company, on page $50.
Armour & Company, organized un.
der the laws Of Illinois, April IA. 1900.
Capital stock, SoO,OOO,OOO.
Property-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 ON a
large scale.
Although the capital alone Of this
great concern Is $20,000.0 900 the asses.
sors could only find S2,5OO,OOO Of per.
sonal property belonging to 1t.
The legal tax on S:O,OOO,OOO Is $780,.
600.
Tho tax on s2.5OO.OO0 Is s35,OO0.
So the people lose In taxes on the
capital Of this concern alone S3i5OOO
every year.
This makes total Of back taxes due
for five years, according to Supreme
Court rulings In other cases, Of 81, Do.
OCO.
This does not include the amount Of
taxes due present and back on the
stock Of Armour 4 Company Of New
Jersey,
Armour car lines,
Hammond Packing Company,
National Packing Company,
Union Stock Yards Of Omaha,
And q 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,OOOOOO and
may exceed that sum, rs this corpora.
ton. unlike Swift Il Company, does
not furnish Its figures to "Chlcago Sc.
curltics." Armour & Company owns
Il great deal of stock In outside cor.
pOratlons, every dollar Of which Is
taxable here In Chicago. Among Others
Armour Il Company, OF New Jersey.
The following taken from pages pol
and 203 of the report of the United
States Commissioner Of Corporations,
tells us something upon this subject !:
''rhe 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 Jer-
sey operates practically all the branch
houses for the sale Of beef and other
packing house products supplied by
Armour Il Company, of Illinois. 1t also
owns the Armour packing houses at
Sioux City and Fort Worth. For con-
yenlence 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 tho New Jersey COR
poratlon, It Is merely necessary to take
the accounts relating to the branch
houses and those relating to the Fort
Worth and Sioux City packing houses.
The company, however. Is genuine
one, having large actual assets Of Its
own, not a mere paper name. 1t has
no separate books and no profits sep.
arate from those appearing In the nc.
counts of Armour & Company, Of ILL
nols."
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.
~eF
VIII Corporation Counsel Brundaso
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 dc
claring that he has already secured
sufficient evidence against wealthy tax