Chicago eagle. [volume] (Chicago, Ill.) 1889-19??, 1908-05-16

"Chlcago Securities" for 1907, pages
$50, $40 and BAL, gives the following
facts about Swift & Company, that
great corporation which the Board Of
Assessors could only discover $780,.
600 belonging to:
Swift 4 Company-Orsanlxed April
I, 1885.
Capital Stock. s5o.ooo,Ooo. all Of one
class, Of the par value OF 500 per
abare.
Dividends-sevcn per cent per an.
mum In quarterly dividends Of IN per
cunt, January, April, July and October.
Earnings-The report for the year
ending December 81, 1905, shows net
earnings were equal to IL per cent
on the capital Of 350.000.O00 After
payment of the regular Z per cent
dividend, there was added to the sur.
plus account S2.S00.000. equal TO o per
cent on the capital stock, increasing
the total surplus to @l2 4o6.O06. The
company's gross business was consid.
erably over $500. 000. 900 and the Item
Of quick assets was increased &16.668,.
732.
The balance sheet Of December 81,
1000. shows a total Of assets ON hand
Of S02. 710.S47.
And this IL the concern that ID taxed
on one.nfth Of 100000!
The "quick assets" Of this concern,
that Is, personal property available for
immediate use as money, was listed as
follows on September 20, 1905:
Cash ................. 3'lVO,O0s
Accounts receivable ....... 20,3SO,S0i
Inventory ........ ..''''' <i'oos'os
Stocks and bonds ........ 1l,A0S'SOo
Total ,............ .... 500, 364, I'D
The personal property Of this con-
Germ. increased from ~, 10S, lao IN
1904. to $40, soO,O97 In 1905, and from
the latter figure to $65.354.7 2o In 1905.
This Ia exclusive Of the capital stock
Of $5OO0O.O00.
Making a total Of personal property
owned by Swift 4 Company In CHI
caeo at the beginning Of 1907 OF over
lllD.OO0.OOO.
And vet the BOARD Of Assessors value
its holdings ut only @8.O0OO0O and tax
II ON one-ffth Of this amount.
What do you think Of that3
Swift and Company. the corporation.
sbould pay taxes on its @6O.O0O.O0o
capital stock according TO the laws Of
Illinois.
The assessors have listed IL per-
sonal holdings at only 100000.
Nor 10 this all
Swift and Company, Of Illinois, that
great corporation capitalized for $50.
100000 should pay taxes on every dol
lars worth of stock It owns In foreign
corporations.
Has the Board of Review ever taker
any steps to ascertain how much tn
corporation or its officers own In cor
porations outside the Slater
Perhaps we may help them BY quot
Ing the following list Of outside cor
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 cor
poration which sells the output Of Swift
and Company. Of Illinois. In the New
England States and parts Of New Yorl
aud New Jersey, and owns q control
ling interest In the firms OF the Swift
Beef Company, OF Boston; q. =. an
q. G. Swift Boston; q. 3. Swift an
Company, Boston. and N. d. Holli
and Company, Boston. Massachusetts,.
Swift and Company, Of West VII
ginia, which operates many brancha
In several different States for sellin
beet. pork. mutton, canned goods stc
etc.
Swift and Company. Of New Yori
which controls Q large number {
branch houses IL the STATE Of Ne
York, all doing . big business
Swift Fsstili1sg Works snsased
manufacturing fss1lisesS IN the 6tat
Of Georgia.
swift Refrigerator Tran1ortatio