Chicago eagle. [volume] (Chicago, Ill.) 1889-19??, 1907-08-24
Over Ninety.two Million Dollars Worth
Of Quick Assets On Hand
Just Now.
Not 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.

"Chicago Securities for 1907. pages
$50. $40 and 341, gives the following
facts about Swift 4 Company. that
greut corporation which the Board Of
Assessors could only discover $1,000
900 belonging to:
Swift & Company-Organlxed April
!, 1886.
Capital Stock. S5O.OOOOOO. all Of one
class, Of the par value Of 500 per
share.
Dlvidcnds-Sevcn per cent per an.
mum In quarterly dividends Of IN per
cent, January, April, July and October.
Earnings-The report for the year
ending December 81, 1909, shows net
earnings were equal to u per cent
on the capital Of $50.000O00. After
payment OF the regular Z per cent
dividend, there was added to the sur.
plus account $2.5OOOO equal to o per
cent on the capital stock. increasing
the total surplus to Sl2.400.O00. The
company's gross business was consid'
crably over 5000. 100000 and the item
of quick assets was Increased $1o,0o3,'
T3c.
The balance sheet Of December 81.
1905, shows a total Of assets on hand
Of $O2, 710,S47.
And this Is the concern that Is taxed
on onc-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, 1906:
Cash .................... 3,lOO,OW2
Accounts receivable ....... :0.33O,SOl
Inventory ......... ....".' :i'1H'o1t
Stocks and bonds ........ 1l,l0S,sOO
Total ............. 80. 500. 1854. 100
The personal property Of this con-
Germ, increased from $4c.10s,14O In
1904, to $4O,s2O0O7 In 1905, and from
the latter figure to $05,3oi,7@0 In 1906
This Is exclusive Of the capital stock
Of $5OOOO.OOO.
Making total Of personal property
owned by Swift 4 Company In Chi
cago ut tho beginning Of 1907 Of over
$ll5OOO.OOO.
And vet tho Board of Assessors value
Its holdings at only 100000 and tax
It on One-tifth OF this amount.
What do you think Of that?
Swift and Company, tho corporation
should pay taxes on its $5O.OOOOO(
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. tina
great corporation capitalized for 80.
100000 should pay taxes ON every dol
lars worth Of stock 1t owns In foreigl
corporations.
Has the Board of Review ever takel
any steps to ascertain how much tn
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
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 col
poration which sells the output of Swift
and Company, OF Illinois, In the New
England States and parts Of New Yor
and New Jersey. and owns a contro
ling interest In the firms Of the Swift
Beef Company, of Boston; G. +. an
T.. G. Swift, Boston; g. F. Swift an
Company, Boston, aud N. p. Holli
and Company, Boston, Massachusetts.
Swift and Company, of West VII
ginia, which operates many branche
In several different States for sellln
beef, pork, mutton. canned goods. etc
etc.
Swift and Company. Of New Yorl
which controls large number I
branch houses In the State Of Ne
York. all doing big business
Swift Fertilizer Works, engaged
manufacturing fertilizers In the Sta
of Georgia.
Swift Refrigerator Transportatlt