Chicago eagle. [volume] (Chicago, Ill.) 1889-19??, 1908-03-28

"Chicago Securities" for 1907. pages
800. $40 and 341, gives the following
facts about Swift & Company, that
great corporation which the Board Of
Assessors could only discover $4,000.
900 belonging to-:
Swift & Company-Organlzed April
I, 1885.
Capital Stock. s5O.OOO.OOO. all Of one
class, Of the par value Of 500 per
0bare.
Dividends-Seven per cent per an.
mum In quarterly dividends Of ~ per
cont. January. April, July and October.
Earnings-The report for the year
ending December 81, 1905, shows net
earnings were equal to ~ per cent
on the capital Of $5O.OOO.OOO. After
payment Of the regular Z per cent
dividend. there was added to the sur.
plus account $2,5OO.O0O. equal to per
cent on the capital stock. increasing
the total surplus to $l2,400.OO5. The
.company's gross business was c0nsid.
erably over 500. 100000 and the item
of quick assets was increased $15,553,.
732.
The balance sheet Of December 81.
1906. shows total Of assets on hand
of $02,718.S47.
And this is the concern that Is taxed
on one.Hfth Of $3.OOO.000!
The ''quick assets" Of this concern,
that II. personal property available for
immediate use as money, was listed us
follows on September 30, 1906:
Cash 3,1OO,602
Accounts receivable ....... 20,33O,SUl
Inventory ......... ....... 2l,334'3t4
Stocks and bonds ........ 11,40S,SOO
Total ........... .....$oo'3o4''so
The personal property of this con-
Germ. Increased from $i2,10S,140 In
1904, to $40.s2O.007 In 1905, and from
the latter figure to $05, 1854, 100 In 1900.
This il exclusive Of the capital stock
Of $5O,OOO.OO0.
Making total of personal property
owned by Swift & Company In CHI
cago at the beginning OF 1907 Of over
tl15OOO.OOO.
And vet the Board Of Assessors value
Its holdings ut only $3.OOO.OOO aud tax
Il on one.tifth OF this amount.
What do you think of that?
Swift and Company, the corporation,
should pay taxes ON Ito $5O.OOO.OOO
capltal stock according to the laws OF
illinois.
The assessors have listed its per-
sonal holdings at only $3,OOOO0O.
Nor Is this all
Swift and Company, Of Illinois, that
great corporation capitalized for $780,
100000 should pay taxes on every dol
lars worth Of stock 1t owns In foreign
corporations.
Has the Board of Review ever taken
any steps to ascertain how much the
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
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, cor
poratiOn which sells the output Of Swift
and Company, of Illinois, In the New
England States aud parts Of New Yorl
and New Jersey, and owns a control
Ting interest In the Arms Of the Swift
Beef Company, Of Boston; g. +. ant
u. @. Swift, Boston; g. r. Swift ant
Company, Boston, and 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 Yori
which controls large number o
branch houses In the State of Ney
York, all doing big business
Swift Fsrtilinoe Works, engaged 1
manufacturing fszAlisers In the Stat
Of Georgia.
Swift Refrigerator Transportatio