Chicago eagle. [volume] (Chicago, Ill.) 1889-19??, 1907-08-24

"Chlcngo Securities for 1907 gives
the following facts about Armour &
Company, on page $50.
Armour & Company, organized un.
der the laws Of Illinois, April IA. 1900.
Capital stock, $20.O00,OO0.
Property-The plants controlled by
the corporation are the packing houses.
fertilizer works, glue factory. soap fac.
tory md hair factory In Chicago. and
the packing houses In South Omaha.
Sioux City. East 81. 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 IL also operated on a
large scale.
Although the capital alone Of this
great concern 10 $4,000. 900 the asses
sors could only find $?,500.OOO Of per.
sonal property belonging to 1t.
The legal tax on S2O,OOO,OOO Is $780,.
600.
The tax on $2,5OO.OO0 is $4,000.
So the people lose In taxes on the
capital Of this concern alone $o45,OOO
every year.
This makes total Of back taxes due
for five years. according to Supreme
Court rulings In other cases, Of $l,:2o,.
600.
This does not include the amount Of
taxes due present and back on the
stock Of Armour & Company Of New
Jersey,
Armour car lines,
Hammond Packing Company,
National Packing Company,
Union Stock Yards Of Omaha,
And 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.OOO,OOO and
may exceed that sum, Us this corpora
ton, unlike Swift & Company, does
not furnish Its figures to "Chicago Sc
curltles." Armour & Company owns
great deal Of stock In outside cor
poratlons. every dollar Of which Ii
taxable here In Chicago. Among Others
Armour 4 Company, Of New Jersey.
The following taken from pages :0l
and 2O2 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 transactine
certain business which the Illinois cor
poration was not authorized to trans
act. Armour 4 Company, Of New Jer
Soy operates practically all the branch
houses for the sale Of beef and other
packing house products supplied by
Armour g. Company. of Illinois. 1t also
owns the Armour packing houses al
Sioux City and Fort Worth. For con
venience 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 the New Jersey cor
poratlon, 1t Is merely necessary to TAKE
the accounts relating to the brancl
houses and those relating to the For
Worth and Sioux City packing houses
The company, however, Is a genuine
one, having large actual assets Of IT
own, not mere paper name. 1t ha
no separate books and no profits sep
arate from those appearing In the &C
counts of Armour & Company, Of I'LL
nOis."
How long the people of Chicago vii
continue to pay high taxes while con
Germs like this escape as they do,
problematical.
~A
Samuel McROberts should tell n
when called before the Board Of RI
view.
%eSA
VIII Corporation Counsel Brundag
get after Armour, Swift and the res
Of the boys? Assistant CorpOratIo
Counsel John w. Hill startled III
{ hearers In the chamber where til
! Board of Review was meeting by d.
, claring that he has already secure
sufficient evidence against wealthy ia