Chicago eagle., 1908-04-25

SuiCUkV CeCuVIteS tUT luVSs DuBcS
$50. $40 and 34l. gives the following
facts about Swift & Company, that
grent corporation which the Board Of
Assessors could only discover $3,000,.
600 belonging to:
Swift & Company-Organlzed April
I, 1886.
Capital Stock. s5o.ooo.oOo. all Of one
class. of the par value Of 500 per
share.
Divldends--Sevcn per cent per an.
mum In quarterly dividends Of ~ per
cunt. January. April. July and October.
Earnings-The report for the year
ending December 81. 1000. shows net
earnings were equal to IL 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 &2,500, 900. equal to 8 per
cent on the capital stock. increasing
the total surplus to $l2.400.005. The
company's gross business was consid'
erably over 500. .00O. 900 and the item
OF quick assets was increased $685..
73?.
The balance sheet Of December 81,
1905. shows a total Of assets on hand
Of $0?,718,S47.
And this Is the concern that is taxed
on one-ffth Of $3,00O.0O0!
The "quIck assets" Of this concern,
that Is. personal property available for
immediate use as money, was listed as
follows on September 20, 1906:
Cash ..............$ 3,1OO,6V2
Accounts receivable ....... ?3,33O,oOl
Inventory ......... ....... Si'oot'oss
Stocks and bonds .....:.. 11,40S,&O
Total l............. .... $85,354, 100
The personal property OF this con-
cern, Increased from 81. 2.1OS, l4O IN
1904. to 0,s2O,007 In 1905. and from
the latter figure to sos 1854, TO In loOo'
This Ia exclusive Of the capital stock
Of $5O.OOO,OOO.
Making a total Of personal property
owned by Swift 4 Company In Chi
caao at the beginning Of 1907 Of over
1lI5.OOOO0O.
And vet the Board Of Assessors value
lts holdings ut only S3.00O.OOO and tax
It on 0ne.tifth Of this amount.
What do you think of that'
Swift and Company, the corporation
should pay taxes on its &5O'OOOOW
capltal stock according to the laws Of
Illinois.
The assessors have listed IT. per
,onal holdings at only 100000.
Nor is this all
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 foreisl
corporations.
Has the Board of Review ever takel
any steps to ascertain how much tn
corporation or its officers own In cor
porations outside the State?
Perhaps we may help them BY quot
Ing the following list Of outside cor
porstlons owned by Swift and Com
pSay, of Illinois. according to the re
mort OF the United States Commission
or OF Corporations:
Swift aud Company, Of Maine, q col
poration 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 q contro
Ting interest In the firms Of the Swii
Beef Company, Of Boston; g. =. an
T.. G. Swift. Boston; q. 3. Swift an
Company, Boston, aud N. q. Holll
and Company, Boston. Massachusetts
Swift and Company. Of West VII
glnla, which operates many brancht
In several different States for selliu
beet. pork, mutton. canned goods ste
etc.
Swift and Company. Of New Yorl
which controls q large number ,
branch houses In the State Of Ne
York, all doing Q big business
Swift Fsrtaliass Works. engaged
manufacturing fe5Alisers In the Sta
Of Georgia.
swift Refrigerator Trangportatit