Chicago eagle. [volume] (Chicago, Ill.) 1889-19??, 1908-01-25

"'Chicago Securities" for 1907, pages
330. $40 and 341. 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-Organized April
Z, 1885.
Capital Stock, s5O.O0OO00. all Of one
class, Of the par value Of 500 per
share.
Divldends-Sevcn per cent per an.
mum In quarterly dividends Of tx per
cent. January. April, July and October.
Earnlngs-The report for the year
ending December 81. 1000. shows net
earnings were equal to IL per cent
on the capital Of $5O.OO0O00. After
payment OF the regular Z per cent
dividend. there was added to the sur.
plus account $500, 900. equal to 8 per
cent on the capital stock. increasing
the total surplus to S12.490.OOS. The
coinpany's gross business was consid.
crabiy over 500. 000. 900 and the item
Of quick assets was Increased I'll, $685..
732.
Tho balance sheet Of December II,
1000. shows a total Of assets on hand
OF S0?,71O.S47.
And this Is the concern that Is taxed
on one.fifth Of $3,O0O.O00!
The "quick assets Of this concern,
that II. personal property available for
Immediate use as money, was listed as
follows on September 90, 1906:
Cash ................... 31OO,OO2
Accounts receivable ....... :O,33O,S61
Inventory ....... ....... :l,a34'3I4
Stocks and bonds ........ 11,40S,SOO
Total ........... ..... $O0,304, ~
The personal property Of this con-
Germ, Increased from $4c,10S,14O In
1904, to $4O.s20.007 In 1905. and from
the latter figure to $05, 100 In 1905
This il exclusive Of the capital stock
OF $5O.OOO.OOO.
Making a total Of personal property
owned by Swift 4 Company In Chi
cago at the beginning Of 1907 Of over
jlI6,OOO,OOO.
And vet the Board of Assessors value
Its holdings ut only 100000 and tax
Il on One.tifth OF this amount.
What do you think Of that?
~
Swift and Company, the corporation
should pay taxes on Its $5O.OOO.OW
capltal stock according to the laws 81
Illinois.
The assessors have listed lts per
sonal holdings at only $3!O0O.OOO.
Nor Is 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
poratlons outside the Slater
Perhaps We may help them by quot
iny 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, col
poratlon which sells the output Of Swif
b and Company, Of Illinois, In the Ne,
sEuglaud States aud parts Of New Yor
and New Jersey, aud owns a contro
ling interest," In the firms Of the Swli
Beef Compan.', OF Boston; G. +. an
u. C. Swift. Boston; G. F. Swift an
Company. Boston, and N. u. Holll
and Company, Boston, Massachusetts,
Swift and Company, Of West VII
.sinia, which operates many brancht
In several different States for selllu
beef, pork. mutton. canned goods, etc
etc.
Swift and Company, Of New Yor
which controls large number I
hranch houses In the State Of Ne
Gork, all doing q big business
Swift Fertiliass Works, engaged
manufacturing fsslllsers In the Sta
Of GAIA
Sw;S sefrisseates Tranpostatit