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THE OHIOAQO EAGLE, SATURDAY, OOTOBER 6, 1907. WHY REAL ESTATE TAX HIGH. SWIFTS BJGJONCERN. Members of the Board of Assessors and Others Should Know About This Corporation. ARMOUR'S BIG PUNT. Members of the Board of Assessors and Others Should Read About This Corporation. vzF7rTzxrrrFTPTFr$z IS , 1 Its Capital and Its Enormous Profits as Set Forth by Itself. Over Ninety-two Million Dollars Worth of Quick Assets On Hand Just Now. Mot to Mention Fifty Million! of Dollars in Capital Stock All Paying Dividend!, And Yet the Board of Aneuorf Could Only Find Three Million! to Tax. "Chicago Securities" for 1007, pages 33ft. TrlO nm! Ml, give the following fact about Swift & Company, that trout corporation which the Board of Assessor could only discover $3,000, 600 Iiotonglng to: Btrlft & Company Organized April 1, 188T.. Cnpltnl Stock, $50,000,000, nil of ono ditKM, of the par value of $100 per hare. Dividends Seven per cent per an num In quarterly dividends of lfJi per cent. Jnnunry, April, July and October. Earnings Tho report for tho year ending December HI, 1000, shows net earnings were equal to 12 per cent on the capital of $50,000,000. After payment of tho regular 7 per cent dividend, thoro was added to tho sur pin account $2,500,000, equal to 5 per cent on tho capital stock, Increasing the total surplus to $12,400,005. Tho company's gross business was consul trably over $200,000,000 nnd tho Item of quick nssots was Increased $15,553, 782. Tho balance sheet of December 31, 1000. shows n total of assets on hand f $02,710,847. And this Is the concern that Is taxed on tmo-flfth of $3,000,0001 The "quick assets" of this concern, that Is, personal property nvallablo for Immediate uso as money, was listed ns follows on September 20, 1000: Cart 'oJEffi Accounts receivable 20,KH),8i Inventory ?!nn Blocks mid bunds ii,-h,ouu Tumi $05,354,720 The pprsonnl property of this con .r... Increased from 812,108,140 In 1001. to ?ll,820,007 In 1005, nnd from the latter figure to $05,351,720 In 1000. This Is exclusive of tho capital stock of jkw;ooo,ooo. Slaking a total of personal property owned by Swift h Company In Chi cago at tho beginning of 1007 of over f.115,000,000. And yet tho Board of Assessors vnluo Ms holdings at only $3,000,000 und tax it on one-fifth of this amount What do you think of that? Bwlft and Company, tho Po'"?. should pay taxes on Us $50,000,000 capital Btock according to tho laws of lUlocns. . . , ,4 Tho assessors have listed Its per- aonul holdings at ouly $3,000,000. Nor Is this nlL .. . Bwlft and Company, of Illinois, that great corporation capitalized for $50, 000,000 should pay taxes on every dol lar's worth of stock It owns In foreign coritorutlons. lias tho Board of Rovlow ever taken ny steps to ascertain how much tho coriioratlon or Us oUlcers own lu cor porutlons outsldo tho Stato? Forhaps wo may help them by quot ing tlio following list of outsldo cor porations owned by Swift and Com any, of Illinois, according to tho re port of tho United States Commission er or Corporations: Swift and Compnnj, of Maine, a cor ponitlou which sells tho output of Swift and Company, of Illinois, In tho Now England States und parts' of New York nd New Jorsoy, nnd owns n control ling Interest lu tho firms of tho Swift Beef Company, of Boston; G. F. and K. C. Swift, Boston; G. F. Swift nnd Company, Boston, nud N. E. IIollls and Company, Boatou, Massachusetts. Swift and Company, of West Vir ginia, which operates many branches In several different Stntes for selling beer, pork, mutton, canned goods, etc., elc. Swift and Company, of Now York, which controls a largo number of brunch houses In th'o State of Now York, all doing a big business. Swift Fertilizer Works, engaged In manufacturing fertilizers In jthe Stato of Georgia. 1 Swift Refrigerator Transportation Company, ana dwlft Llvo Stock Trans portation Company, corporations of the Stato of Maine. Swift Beef Company, Limited, do ing business In Great Britain. Swift racking Company, selling agents for Swift nud Company, of Illi nois, In Germany. Swift and Company, of Illinois, nro said Jo own largo blocks of stock In tho Union Stock Yards Company, of Omaha, tho Kansas City Stock Yards Company, tho Fort Worth Stock Yards Company, tho St. Joseph Stock Yards Company nnd tho St Paul Union Stock Yards Company. Besides tho corporations already named, tho Swifts nro said to own nnd absolutely control Llbtiy, McNeil nud Llbby, of Mnlno; John 1'. Squire nud Company, n New Jersey corporation, with n big packing plant In Cambridge, Mass., and branches all over New Eng land; Boston Backing and Provision Company, of Massachusetts ; New Eng land Dressed Meut nnd Wool Company, of Mnlno ; North Packing nnd Provision Company, of Mnlno ; Sjierry and Barnes Company, of Connecticut; Sturtevant nud Haley, of Boston ; P. Mcrwln Com pany, Worcester, Mass.; Springfield Provision Company, Springfield, Mass. ; White, Percy and Dcxtor Company, Worcester, Mass.; Halstcad nud Com pany, Now York ; C. H. Davis and Co., Norwich. Conn.: Blmblcr, Van Wage ncn and Company, Newark, Now Jer sey. Tho capital stock of all of tho nbovo corporations being owned In Chicago. Why don't tho pooplo of Chicago get tho benefit of It? Tho Board of Ilovlew cortnlnly ought to get enough out of them to enable tho city to equip n good street car Hue. Armour nnd Company, a big Chicago and Illinois corporation, owns a great deal of stock lu outsldo corporations. Among others Armour and Company, of New Jersey. Tho following taken from pages 201 and 202 of tho report of tho United States Commissioner of Corporations, tells us something upon this subject: "Tho Now Jersey corporation was formed for tho purposo of transacting ccrtalu business which tho Illluols coritoratlou was not authorized to transact Armour and Company, of Now Jersey operates practically all tho branch houses for tho salo of beof and other packing house products sup plied by Armour and Company, of Illi nois. It also owns tho Armour pack lug houses at Sioux City and Fort Worth. For convcnlenco tho nccounts of Armour and Company, of Now Jer sey are carried on tho books of Armour nnd Company, of Illinois. To ascertain the business transactions of tho Now Jersey corporation, It Is merely neces sary to tako tho necouuts rotating to the branch houses and thoso relating to tho Fort Worth and Sioux City packing housos. Tho company, how over, Is a gonulno one, hnvlug largo actual assets of Its own, not a mcro paper name. It has no separate books and no profits separate from thoso ap pearing lu tho Accounts of Armour nnd Company, of Illinois." After reading tho nbovo from tho report of tho United States Commis sioner of, Corporations, wo would llko to ask whore our Board of Assessors and Board of Rcvlow havo been? And then tho following might claim tlio attention of tho Board of Review : Armour Car Mucs Company Now Jersey; $750,000 stock. Directors and owners; J. Ogdcu Armour and asso ciates. Armour Grain Company New Jer sey j $1,000,000 stock. Directors nnd owners : J. Ogdcu Armour and asso ciates. National Packing Company Now Jersey; $15,000,000 stock. Directors nnd owners: J. Ogdcn Armour, L. F. Swift, E, F. Swift, Edward Morris, Ira N. Morris, T. J, Connors, Thomas MARSHALL Marshall Field & Company carry 910,000,000 Insurance, nud arc said to havo outstanding nccounts duo them on the first of April of each year, when tax schedules are filed, of $5,000,000 lu the wholesale and $.'1,000,000 In their retail ttore. Yet they are only taxed on $0,000,000. Tho $1(1,000,000 Insurance probably stands for $20,000,000 worth of prop erty nud the $8,000,000 In outstanding accounts makes u total of $28,000,000. As tho firm Is only taxed on $0, 000,000 by the assessors, thoso figures would show $22,000,000 escaping taxa tion. ' This $22,000,000 has to bo mndo up somewhere, nnd it Is mndo by taxing tho real estate of tho small property owner to tho limit. Marshall Field & Company havo ab sorbed tho business of so many scores of small dealers, nud havo occupied so much alley and sidewalk space belong GOODRICH TRANSIT CO. Tho Goodrich Transit Compauy la a corMratlou organized under tho laws of the Stato of Maine. Capital stock, $500,000. Every dollar's worth of this stock owned lu Chicago is taxable here. Tho Reviewers should call A. W. Goodrich and ask him who owns It Mr. Good rich ought to know and tho people want to know. Vlin ilws dm llni, work for tho :,n.lrl,h Klc.imbo.it miiiir ut tho City t,,ll'i i im . iu. !,..... h. i... l in ..w ,,v..v.....j n. ..- w IIUl'K IWU U) IIIU Kll-lll UU1HIIH.II lUll'l- cts Is city property. It is ut Itlver street, with a dock frontage of !I52 feet, wllli a depth ranging from 55 to : I'eet. This dock Is tho very State street of E. Wilson, Arthur Meeker, S. Mo Roberts nud L. A. Carton. Tho Hoard of Itovlow should sum mon tho following well-known citizens and Interrogate them with roferenco to tho amount of stock lu forelgu cor porations owned lu Chicago, which they havo kuowledgo of: J, Ogdon Armour. Louis F. Bwlft. John A. Spoor. Lnurenco A. Carton. Arthur Meeker. Mr. Swirt and Mr. Armour aro both reported to bo public-spirited. They should both bo willing to help In this matter. They can, If they will, help n great deal by telling tho Hoard of Itovlow what they know. Mr. Armour Is a director lu tho fol lowing corporation and tho Hoard of llevlew, if It wishes, can ascertain how much stock ho owns In each, or what Chleagoaus do own It, ns It Is taxnblo: -Armour car Hues, Armour Grain Company, Central Leather Company, G. II, Hammond Company, Hammond Packing Company, National Packing Company, United States Leather Company, Chicago, Milwaukee & St. Paul Rail way Company, "Fort Worth Stock Yards Company, Fort Worth, Texas. Hutchinson Packing Co., Hutchinson, Kansas, Northwestern National Flro Insur- anco Company, of Milwaukee, Wis. THE PUBLIO BE D Dl FIELD & ing to tho public that the concern Is really a groat public Institution of a certain kind. Then ngnln, Marshall Field & Com pany arc lu favor of n high prowuro water system which will cost the tax payers millions of dollars to Install. Hut wo do not hear of small mer chants shouting for high pressure water system. Tin collection or over $:i.)00,000 al leged back tuxes against the estate of the late Mnrshall Field was urged upon the Board of Review by the Illi nois Tax Iteform Association. Marshall Field, tho association In sists, never paid more than 10 per cent on his fair share of taxes on his jwr soiiiiI property, lie was, It Is further chargiHl, permitted to evade tho pay ment of over $2,000,000 taxes during the Inst eight years of his life. "All of this," the letter says, "was made fresh water commerce. It Is the big gest and best dock lu the greatest city on the whole chain of tho great lakes. What do you suppose tho Goodrich folks pay the city for tills valuable property? Only $5,000 a year rental ! From period to period the loaso has been renewed. WITHOUT ADVER TISEMENT, and always at the same old figure. "10 '"Hi ieiio or agict-mem was "wwii P .v '" ny nureuu or coin iicnwiiiiiii. ii in in iiiuu in .uii.v j, "" " raw or " ' ""in nuMl The leafing by riniHlrlch dock. the elly of tho great east of Itush street bridge, for tho portly sum of $.',,000 o ' year, without advertising for bids, Omaha Packing Company, Prussian National insurance Com pany, of Stettin Germany. Mr. Louis F. Swift Is a director In the following. How much stock does ho own? At all ovcuts ho can glvo the Hoard of Itovlow much valuable In formation : Union Stock Yards Company, Fowler Hrothers, Limited. Llbby, McNeill and Llbby. National Packing Compauy. St. Louis National Stock Yards Com pany. Swift's Refrigerator Transportation Compauy. Mollis Cold Storngo Company. Illinois Cattle Company, Mechanical Manufacturing Company. Soutli San Francisco Laud and In vestment Company. Springfield Provision Company. Swift's Fertilizer Works. Western Meat Company. Tho Armour Tank Lino carries greaso to most of tho soap makers of tho countrr outsldo of Chicago. It Is n blir thins In Itsolr. nnd r.honl.l im - forget tho V;x collector. Millions of dollars that belong In tho public treasury havo beeu wrong fully withhold from tho peoplo's uso by derelict officials to uso no stronger term. Thcso millions would glvo us i plenty of money to doublo our pollco j force j would glvo our firemen eight ! hours work a day j would provtdo ouo COMPANY. good by the smaller taxpayers of Clit cap) to their great loss and Injury." Marshall Field & Company nro only valued at $0,000,000 by the nssoswrs, and taxed on one-fifth of It. In view of this fact, It Is Interesting to note the Insurance carried by this firm, which Is as follows: State street section $1,000,000 Wiibash avenue section .... 1,500,000 Wholesale :i,000,000 Madison street 500.000 Fixtures 500,000 Warehouse, Polk street and the Itlver .1,000,000 Total $10,000,000 Thcso figures tako no notice of ho fact that tho Insurance Is supposed to cover but 80 per cent of the real value, which would make tho assewwrs' val uation appear nlwut $14,000,000 shy of tho truo figure. astounds everyone. In tho opinion of able lawyers, the very fact that bids were not advertised for Invalidates tho loiw This leaso Is worth from $50,000 to $100,000 a year to tho city, as it Is the very best dock property on the whole chain of lakes. Several people would gladly bid $50,000 for it If they were given u chance. This sort of business Is played out with tho public and the facts once' understood will arouso ii storm of Indignation. Tho Goodrich gang bave all tholr steamboats registered from Duluth, Minnesota, from which port they "hall," although they do not run to It. It is alleged that this crowd "liall" tholr vessels from Duluth to coao taxation in Chicago, ami yet Chicago furnishes thorn with iwllce. lire and other protection. full seat for every child desirous of attending tho public schools and would provide u largo number of kindergar tens, public baths nud other public neiesltlcs. Tho Hoard of Itovlow must mako tho packing Interest pay Its Just sbaro of tho taxes, Real estate taxes nro very high nnd will stay high for tho next four years. Tho rich tax dodgers, who got out of paying their Just porsonnl tuxes are responsible for this. Perhaps tho Hoard of Review will do nothing this year with tho tax matters mentioned on tho second page of this paper. Hut you can hot on ono thing without fear of losing nnd that Is. that beforo this light Is over twenty millions of luck taxes will bo collected by tho people. Every small shop keeper and overy Mechanic who has a llttlo saved lias . to pay taxes upon that little. Hut rich holder of stocks In outsldo corpo rations oscapo Scott free, Equal and Just taxation with no dodging on tho part of rich stockhold ers Is what tho pcoplo demand. Tho Armour estnto assessed on $100,000 and tho Field estnto on over $13,000,000 makes qui to a contrast. Its Twenty Million Dollars of Capital Stock and Its Many Holdings. Enormous Holdings by Armour People in Big Concerns Outside Chicago Attract Much Attention. The Small Taxpayer! Are Very Much In terested in the Development! of Thii Great Wealth, Yet the Chicago Aiiessori Could Only Find Two and One-half Million! to Tax. "Chicago Securities" for 1007 gives tho following facts about Armour & Company, on pago 3S0. Armour & Company, organized un der the laws of Illluols, April 14, 1000. Capital stock, $20,000,000. Property Tho plants controlled by tho corporation are tho packing houses, fertilizer works, gluo factory, soap fac tory nnd hair factory In Chicago, and the packing houses In South Omaha, Sioux City, East St. Louts nnd Fort Worth. Tho Importance of tho pack lug houses and plants controlled by the organization Is known all over the civilized world. The glue factory Is ono of tho largest In the country. The soap factory Is also operated on a large scale. Although the capital alono of this great concern Is $20,000,000 tho asses sors could ouly find $2,500,000 of per sonal property belonging to It. Tho legal tax on $20,000,000 Is $2S0, 000. Tho tax on $2,500,000 Is $05,000. So tho people lose In taxes on the capital of this concern alouo $215,000 every year. This makes a total of back taxes duo for five years, according to Supremo Court rulings lu other cases, of $1,225, 0C0. This docs not lncludo tho amount of taxes duo present and back on tho stock of Armour & Company of Now Jersey, Armour car lines, Hammond Packing Company, National Packing Company, Union Stock Yards of Omaha, And a number of other equally val uable concerns owned by It. Tho personal property of Armour & Company, outsldo of Its capital stock mounts up towards $00,000,000 and may exceed that sum, us this corpora tion, unllko Swift & Company, does not furnish Its figures to "Chlcngo Se curities." Armour & Company owns u great deal of stock In outsldo cor- iwratlons, every dollar of which Is taxable hero in Chicago. Among others Armour & Company, of New Jersey. Tho following taken from pages 2!)l nud 202 of the report of tho United States Commissioner of Corporations, tells us Fomethlug upon this subject: "Tho Now Jersey corporation was formed for tho purposo of transacting certain business which tho Illinois cor poration was not authorized to trans act. Armour & Company, of New Jer sey operates practically nil the branch houses for tho salo of beet and other packing house products supplied by Armour & Company, of Illinois. It nUo owns tho Armour packing houses at Sioux City and Fort Worth. For con venlenco tho accounts of Armour & Company, of New Jersey aro carried on tho books of Armour & Company, of Illluols. To ascertain tho business transactions of tho New Jersey cor poration, It Is merely necessary to take tho necouuts; relating to tho branch houses nnd thoso relating to tho Fort Worth and Sioux City packing houses. Tho company, however, Is n genuine one, having largo actual assets of Its own, not n mere paper name. It has no separate books and no profits sep arate from those appearing lu the ac counts of Armour & Company, of Illinois-." How long tho pooplo of Chicago will contlnuo to pay high taxes whllo con cerns llko this escape as they do, is problematical. Samuel McRnberts should tell nil whoa called beforo tho Hoaid of Re view. Will Corporation Counsol Itruudngo get after Armour, Swift nnd tho ro&t of tho boys? Assistant Corporation Counsel John W. IIIU startlod Ills hearers lu tho chamber where tho Hoard of Review was meeting by do- claiing that ho has already secured I sufficient evidence against wealthy tax dodgers In Chicago to warrant hlra Is going beforo tho grand Jury upon fif teen minutes' notice. "Tho corporation Counsel's office In tends to keep a stenographer In at tendance at tho sessions of tho Hoard of Review from now on," declared Mr. Hill. 'That stenographer will be used for securing a verbatim record of per sons of wealth who make statements before tho board lu support of a claim for reduction of their taxes. "It Is n hard problem to decide Just where to begin, becauso nearly every body teems to thlhk lightly of their oaths when they come to discuss tho value of their personal property with taxing olllclals. However, It Is a fact that 1 already jws-css evidence sutfl dent to Justify mo lu appearing before tho grand Jury lu fifteen minutes. It Is also highly probablo that tax dodg ing will bo brought beforo tho atten tion of the grand Jurors beforo the pres ent hearing ends." In the meantime, tho poor real estate owners of Chicago nro getting the full benefit of tho tax dodging tactics of tho big millionaires. Real estate taxes were never so high In Chicago's his tory. Tho poor mnu must pay, but tits rich fellow cscniies with his untaxed fortune. Henry P. Darlington should glvo up what ho knows when tho Hoard of Review asks him. ono of tho taxing olllclals of Cook County says that it Is dlscrotlonury with taxing olllcers as to what they shall tax. Is it? Who gave them thin dls.-retloimry power? Not the laws of Illluols. J. Ogden Armour would make a startling and valuablo Hoard of Ito vlow witness. Arthur Meeker could tell tho Hoard of Review who owns stock in Chicago, lu tho following corporations, of which lie Is n director: Union Stock Ynuls. Chicago Junction Railway. (5. H. Hammond Company. National Packing Company. Peoples' Trust & Savings Hank. The packers havo been buying cattle "Mibject to jwst mortem." They will hmix find out that they havo been pay ing taxes subject to post mortem and that tho pooplo aro about ready to hold tho examination. sain. Mciiouortfl and J. Ogdeu Ar mour nro good names to conjuro by nud please don't forgot Louis F. Swift. Arthur Meeker should furnish tho facts when questioned by tho Hoard of Review. Don't forgot that beforo this fight Is over, tli.it over twenty millions of dollars lu back texes will havo beou collected. Jiiiurciico A. Carton would excellent man for tho Hoard view to consult. bo mi of Ho- What Interest deserves tho most ben ellt from tho lire department? Every, body knows that It Is the packing in tetvttt. Why, then, should tho packing Interest keep back the twenty millions of dollars lu taxes belonging to tho pcoplo? Louis F. Swift would not havo to tell anything about Lako Forest as sessments If called beforo tho Hoard of Itovlow, Mo could Just toll what bo I knows about personal property owned I In Chicago. '