Chicago eagle. [volume] (Chicago, Ill.) 1889-19??, 1907-08-31


$50. $40 and 341. gives the following
facts about Swift 4 Company, that
great corporation which the Board OF
Assessors could only discover $3OOO,.
600 belonging to:
Swift & COmpany--Organized April
!. 1885.
Capital Stock. s50OOO.OOo. oil Of one
class, of the par value Of 500 per
share.
Seven per cent per an
mum In quarterly dividends Of ~ per
cent, January, April, July and October.
Earnlngs-The report for the year
ending December 81. 1905. shows net
earnings were equal to - per cent
on the capital Of $5OOOO.OO0. After
payment Of the regular Z per cent
dividend, there was added to the sur
plus account $2.5O0.O0O. equal to o per
cent on the capital stock, increasing
the total surplus to Sl?.4O0.OO5. The
company's gross business was consid.
erably over 500. OOO.O 900 and the Item
Of quick assets was increased $1o.oo3,'
T3:.
The balance sheet Of December 81,
1900, shows a total Of assets on hand
Of $02.7l6,s47.
And this Is the concern that Is taxed
on one-fifth Of $3.OOO.OOO!
The ''qulck assets OF this concern,
that IL, personal property available for
immediate use as money, was listed IN
follows ON September %, 1905:
Cash .................' o'NU'ooi
Accounts receivable ...... %D,%p,SOl
Inventory ......... ..... :l'1ot'o11
Stocks and bonds ...... 1l,i0S,Soo
Total ........... ...Soo,3of'' :"
The personal property Of this con-
Germ, Increased from SEEDS, 40 III
1901, to $40,S2O,007 In 1905. and from
the latter figure to sG5,35i.7?0 In 1906
This Is exclusive of the capital stock
of SJO,OOO,OOO.
Making total Of personal property
owned by Swift 4 Company In Chi
cago ut the beginning of 1907 OF over
Sl15,OOO,OOO.
And vet the Board Of Assessors value
Its holdings ut only $3,0OO.OOO and tax
It on One.hfth of this amount.
What do you think Of that?
Swift and Company. the corporation
should pay taxes on Its $5O'OOOOU
capital stock according to the laws o.
Illinois.
The assessors have listed Its per
sonal holdings at only 100000.
Nor II this oil.
Swift and Company, Of Illinois. tina
great corporation capitalized for $50,
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 COZ
poratiOns outside the State?
Perhaps we may help them BY quot
Ing the following list Of outside col
porations owned by Swift and Com
pany, of Illinois, according to the re
port Of the United States Commission
er OF Corporations:
Swift and Company, Of Maine, a col
poratlon which sells the output Of Swift
and Company. Of Illinois, In the Ne'
England States and parts Of New YOr
and New Jersey. and owns a contro
ling interest In the firms of the Swii
Beef Company, Of Boston; G. +. an
f. G. Swift, Boston; G. +. Swift an
Company, Boston, and N. II. Holli
and Company, Boston, Massachusetts,
Swift and Company, of West VII
glnia, 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 {
branch houses In the State of Ne
York, all doing big business.
Swift Fertilizer Works, engaged
manufacturing fertilizers In the Stat
of Georgia.
Swift Refrigerator Transportatlc