Chicago eagle. [volume] (Chicago, Ill.) 1889-19??, 1908-01-11


$50. $40 and 341. gives the following
facts about Swift & Company, that
great corporation which the Board Of
Assessors could only discover $1,000
coo belonging to:
Swift & Company-Organlzed April
!. 1885.
Capital Stock. s5O,OOOOOO. all of one
clnss, Of the par value of 500 per
SHARE.
Dividends-Seven per cent per an.
mum In quarterly dividends Of 1M per
cent, 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 $JO.OOOOOO. After
payment Of the regular Z per cent
dividend, there was added to the sur.
plus account $2.50O.OOO. equal to 8 per
cent OH the capital stock. increasing
the total surplus to $12,400,OO5. The
company's gross business was consld.
erably over 500. 100000 and the item
Of quick assets was increased 81, $685..
T3o.
The balance sheet Of December 81.
1909, shows total Of assets on hand
OF $02,716.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 rs
follows on September 20, 1906:
Cash .................. 3,1OO,00:
Accounts receivable ....... 0,330S01
Inventory ......... ....... S1,3t4,3I4
Stocks and bonds ........ 11,40S,SOO
Total ............. ..$05, 354, 1?0
The personal property Of this con-
Germ, increased from $42.10S,14O In
1904, to $40.s20.007 in 1905, and from
the latter figure to $05, 54,720 In 1900.
This is exclusive Of the capital stock
Of $5O,OOOOOO.
Making a total Of personal property
owned by Swift 4 Company In Chi.
cago at the beginning Of 1907 Of over
t115O0O.O0O.
Aud vet the Board Of Assessors value
its holdings ut only $3,OOO,OOO and tax
II on One.tifth of this amount.
What do you think of that?
.~
Swift and Company, the corporation
should pay taxes on Its $oO.OOo'Ooo
capital stock according to the laws OF
Illinois.
The assessors have listed its per-
sonal holdings at only $3,OOO.OOO.
Nor Is this all.
Swift and Company, of Illinois, that
great corporation capitalized for $oO.
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 thu
corporation or its officers own In cor
poratlons 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 tho re
mort Of the United States Commission
or Of Corporations:
Swift and Company. Of Maine, cor
poratlon which sells the output OF Swift
and Company, Of Illinois, In the New
England States and parts Of New Yorl
and New Jersey, and owns q control
iing interest In the firms OF the Swift
Beef Company, Of Boston; g. y. an
II. G. Swift, Boston; g. r. Swift an
Company, Boston, and N. q. Holli
and Company, Boston. Massachusetts,.
Swift and Company, Of West VII
glnla, 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 a large number q
,rhach houses In the State Of Me-
Tork. all doing big business.
Swift Fsrtilisse Works, engaged I
manufacturing .ss.illzers In the Stat
Of GecsSis,
Sw.." refrigerator Trans.ortatio