Chicago eagle. [volume] (Chicago, Ill.) 1889-19??, 1908-05-23

"Chicag0 Securities" for 1907, pages
$50. $40 and 341. gives the following
Facts about Swift 4 Company, that
great corporation which the Board Of
Assessors could only discover $3,000,.
600 belonging to:
Swift 4 Company-OrganiSed April
I, 1885.
Capital Stock, s50, 100000. all Of one
class, Of the par value Of 500 per
SHARE.
Dlvidends-seven per cent per an.
mum In quarterly dividends Of IN per
cont. January, April, July and October.
Earnings-The report for the year
ending December 81, 1909, shows net
earnings were equal to IL per cent
on the capital Of $50,000.O00. After
payment Of the regular Z per cent
dividend, there was added to the sur.
plus account S2,SO0.0 900. equal to 8 per
cent on the capital stock. increasing
the total surplus to $12,406O06. The
company's gross business was consid.
erably over 5000, 000, 900 and the item
Of quick assets was increased $16,553,.
732.
The balance sheet Of December 81,
1908. shows a total Of assets on hand
Of $02,718,s47.
And this IL the concern that ID taxed
on one-fifth Of 100000!
The ''quick assets" Of this concern,
that ID, personal property available for
Immediate use AZ money, was listed %
follows on September 20, 1905:
Cash ................... 3,lOO,08S
Accounts receivable ....... D.3SO,SO!
Inventory ........ ....'.. Iisoo1'os
Stocks and bonds ........ 11,4OS,SOO
Total .........'" .''''$oO'o0s''<"
The personal property Of this con.
Germ. increased from $42,l06,l4O In
1904. to $40, s20,0 GOT In 1905, and from
che latter figure to S06. 1854, 72o IN 1905.
This Ia exclusive Of the capital stock
Of S10O00!O00.
Making q total Of personal property
owned BY Swift 4 Company In Chi
caeo at the beginning OF 1907 Of over
Sis. 100000.
And vet the Board Of Assessors value
its holdings at only 100000 and tax
Il on onenfth Of this amount.
What do you think OF that'
~
Swift and Company, the corporation,
should pay taxes on Ito SoO.OOOWo
capital stock according to the laws OF
illinois.
The assessors have listed IL per
sonal holdings at only $3IOOO.0O0.
Nor 10 this oil
Swift and Company, Of Illinois. that
great corporation capitalized for $780,
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 tht
corporation Or its officers own In cor
poratlons 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, 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
ling interest In the Arms OF the Swift
Beef Company, Of Boston; @. y. an
q. @. Swift, Boston; q. y. Swift an
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 sellin
beef, pork, mutton. canned goods. etc
etc.
Swift and Company. Of New Yori
which controls q large number q
branch houses In tho State Of Nev
York. all doing big business
Swift FsFtili1os Works, engaged
manufacturing fslsllizess In the Stat
Of Georgia.
Swift Refrigerator Trausportatio