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A.vmm , 'V.iwm bi'mii i .P.-p. .. .,.--.! ., i ,- .,..,... ..... ....,, ' tr ' v' THE OHIOAQO EAGLE, SATURDAY, OOTOBER 12, 1007. WHY REAL ESTATE TAX HIGH. .1 tHnKCSHM Members of the Board of Assessors and Others Should Know About This Corporation. ARMOUR'S BIG PLANT. Members of the Board of Assessors and Others Should Read About This Corporation. 'ij, v"-"iUT,?! nMTTTFrf&V1' &4Mi$T IS Its Capital and Its Enormous Profits as Set Forth by Itself. Over Ninety-two Million Dollars Worth of Quick Assets On Hand Just Now. Jtot to Mention Fifty Millions of Dollars in Capital Stook All Paying DiYidends, .And Tet the Board of Assessors Gould Only Find Three Millions to Tax "Chicago Securities" for 1007, page a.). 340 and 341, gives the following facta about Swift ft Company, that groat corporation which tho Board of A i urs could only discover 93,000, O00 belonging to: Swift ft Oonipnny Organized April 1, 1885. Capital Stock, 950,000,000, nil of one claw, of tho par vnluo of 9100 per chare. Dividend Seven per cent per an num In quarterly dividends of 1 per ent, January, April, July nnd Qctobcr. Burnings Tho report for tho year onding December 31, 1000, allows net earnings were equal to 12 per cent on tho capital of 50.000,000. After payment of tho regular 7 per cent dividend, there was added to tho sur plus account $2,500,000, equal to C per cent on the capital stock, increasing the total surplus to $13,400,005. The company's gross business was consid erably ever 9200,000,000 and the Item of quick assets was Increased 910,553,. TO" . -. The balance sheet of December 31, 1006, stows a total of assets on band of 192,710347. Aad this Is the concern that Is taxed on one-fifth of 93,000,0001 The "quick asset" of this concern, that Is, personal property avallablo for Immediate use as money, was llstod as follows on September 20, 1000: OaKh ' ISS'SiT Accounts receivable 20,330,801 inventory 21,334,874 Stocks and bonds llOS.HOO Tata! 900.354,720 The personal proporty of this con corn. Increased from 942,108,110 In 1904. to 940,820,007 In 100B, nnd from the latter figure to 905,354,720 In 1000. This Is cxclustvo of tho capital stock of 900,000,000. Making a total of ncrsonnl proporty owned by Swift ft Company In Chi ago at tho beginning of 1007 of over 9115,000,000. And yet tho Board of Assessors vnluo Its holdings nt only 93,000,000 and tax It on one-fifth of this amount. What do you think of that? Swift and Company, tho corporation, nould pay taxes on Its 950,000,000 capital stock according to tho laws of Illlnoli M fi The assessors have listed Its per sonal holdings at only 93,000,000. Nor is this all Swift and Company, of Illinois, that great corporation capitalized for 950, 000,000 should pay taxes on every dol lar's worth of stock It owns In foreign corporations. Has the Board of Itevlow ever taken any steps to ascertain how much tho corporation or Ita officers own In cor porations outside the Stato? 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 Compan), of Maine, a cor poration which sells the output of Swift wall l In sIia ltTnn and company, oi iiiinws, iu w Hngland States and parte of New York and New Jersey, and owns a control ling Interest la the firms of the Swift Beef Company, of Boston; O. F. and H. C. Swift, Boston; O. F. Swift and Company, Boston, and N. B. Bollls and Company, Boston, Massachusetts. Swift and Company, of West Vir ginia, which operates many branches In several different State for selling beef, pork, aiutton, canned goods, etc, etc. Swift od Company, of New York, which controls large number of breach bouses In the State of New York, all doing a big business. Swift Fertiliser Works, aatmged In manufacturing fertilisers In the State of Georgia. Swift Refrigerator Transportation Company, ana Swlf t Live Stock Trans portation Company, corporations of the State of Maine. Swift Beef Company, Limited, do ing business in Great Britain. Swift Packing Company, selling agents for Swift and Company, of Illi nois, In Germany. Swift nnd Company, of Illinois, arc said to own large blocks of stock In tho Union Stock Yards Company, of Omaha, tho Kansas City Stock Yards Company, the Fort Worth Stock Yards Company, the St Joseph Stock Yards Company and tho St. Paul Union Stock Yard Company. Besides the corporations already mimed, tho Swifts are said to own nnd nbsolutely control LlbDy, McNeil and Llbby, of Malno; John P. Squire and Company, a New Jersey corporation, with a big packing plant In Cambridge, Mass., and branches all over New Eng land: Boston Packing and Provision Company, of Massachusetts; New Eng land Dressed Meat and Wool Company, of Maine;' North Packing and Provision Company, of Maine ; Bporry and Barnes Company, of Connecticut; Bturtevant and Haley, of Boston ; P. Merwln Com pany, Worcester, Mass.; Springfield Provision Company, Springfield, Mass.; White, Percy and Dexter Company, Worcester, Mass.; Hnbrtead and Com pany, Now York ; C. H. Davla and Co., Norwich, Conn.: Blmblcr, Van Wage ncn nnd Compauy, Newark, Now Jer sey. Tho capital stock of all of tins above corporations being owned In Chicago. Why don't tho pooplo of Chicago got tho benefit of It? Tho Board, of Rovlow ccrtntnly ought to gp,t enough out of them to cnablo tho city to equip a good street car line. Armour and Company, a big Chicago and Illinois corporation, owns a great deal of stock In outside corporations. Among otuors Armour and Company, of New Jersey. The following taken from pages 201 and 202 of the report of the United States Commissioner of Corporations, tells us somotblng upon this subject: "Tho Now Jersey corporation was formed for the purpose of transacting certain business which tho Illinois corporation was not authorized to transact Armour and Company, of Now Jersey operates practically nil tho brnuch houses for tho salo of beef and otbor packing house products sup plied by Armour nnd Company, of Illi nois. It also owns the Armour pack ing houses at Sioux City and Fort Worth. For convenience the accounts of Armour and Company, of Now Jer sey oro carried on the books of Armour nnd Company, of Illinois. To ascertain tho business transactions of tho Now Jersoy corporation, It Is merely neces sary to tako tho accounts rotating to tho branch bouses and those relating to the Fort Worth aud Sioux City packing houses. Tho company, how over, Is a genulno ono, having largo actual assets of Its own, not a mcro paper name. It bus uo. scpnrato books and no profits scparato from those ap pearing In tbo accounts of Armour aud Company, of Illinois." Aftor reading tho nbovo from the report of the United States Commis sioner of Corporations, we would llko to ask where our Board of Assessors and Board of Review have been? And then the following might claim the attention of the Board of Review : Armour Car Lines Company New Jersey; 9750,000 stock. Directors and owners; J. Ogden Armour and asso ciates. Armour Grain Company New Jer sey; 91.000,000 stock. Directors and owners : 3. Ogden Armour and asso ciates. National Packing Company New Jersey; 916,000,000 atock. Directors and owners: J. Ogden Armour, L. F, Swift, B. F. Swift, Edward Morris, Ira N. Morris, T, J. Connors, Thomas MARSHALL Marshall Field ft Company carry 910,000,000 Insurance, nnd nre mid to hnvo outstanding accounts duo them on tho first of April of each year, when tax schedule lire tiled, of 93,000,000 In the wholesale and 93,000,000 In their retail store. Yot they arc only taxed on $0,000,000. The f 1(1,000,000 Insurance prohnbly stands for 920,000,000 worth of prop erty und the 98,000,000 In outstanding accounts make a total of 938,000,000. An tho firm Is only taxed on 90.- 000,000 by the ussessors, these figures would show 922,000,000 escaping taxa tion. This 922,000,000 has to toe mado up somewhere, and It Is mado by taxing tho rent estate of tho mnnll proporty owner to tho limit. MnrslHill Field ft Company have ab sorbed tho business of so many scores of small dealers, nnd have occupied so much alley and sidewalk space belong GOODRICH TRANSIT CO. T1h Goodrich Transit Company Is n corporation organised under tho 4awh of tho State of Maine. Capital stock, 9300,000. Every dollar's worth of this stock owned In Ohtoago Is taxablo here. Tho Reviewers should call A. W. Goodrich und ask him who owns It. Mr. Good rich ought to know and the people want to kuow. Who does tho lino work for tho Goodrich Steamboat gang ut the City Hull? It Is not genornlly known that tho dock used by the great Goodrich Inter ests Is city pro'icrty. It Is nt River street, with a dock frontage of !IS2 feet, with a depth ranging from 33 to III feet. This dock is tho very Statu street of K. Wilson, Arthur Meeker, S. Mc Roberta nnd L. A. Carton. Tho Board of Rovlow should sum mon tho- following well-known citizens nud Interrogate them with rofcreuco to tho amount of stock In forolgu cor porations owned lu Chicago, which they Imvo knowledge of: J, Ogdon Armour. Louis F. Swift. John A, Spoor. Lnurouco A. Carton. Arthur Meeker. Mr. Swift and Mr. Armour aro both rc-Krted to bo public-spirited. They should both bo willing to bolp lu this matter. They can, If thoy will, help n groat deal by telling tho Board of Rovlow what they know, Mr, Armour is a director lu tho fol lowing corporations and tho Board of Rovlow, If It wishes, can ascertain how much stock he owns In each, or what Cblcagoans do own It, as it Is taxable: Armour car lines, Armour Grain Company, Central Leather Company, O, H, nammond Company, Hammond Packing Company, National Packing Company, United States Leather Company, Chicago, Milwaukee ft St. Paul Ball- Fort Worth Stock Yards Company, Fort Worth, Texas. Hutchinson Packing Co., Hutchlnsoa, Kansas, Northwestern National Fire Insur ance Company, of Milwaukee, Wis, THE PUBLIO BE D Dl FIELD & COMPANY. ing to tho public that the concern Is really n great public Institution of a certain kind. Then ngnln, Marshall Field ft Com imiiy nro lu favor of n high pressure water system which will cost the tax payer millions of dollars to Install. Rut wo do not hear of small mer chants shouting for high prosmiro wntor system. The collection or over 1,000,1)00 al lotted back taxes against the estate of the Into Marshall Field wn urged upon tho Board of Review by the Illi nois Tax Reform Association. Marshall Field, the association In sists, never paid more than 10 per cent on his fair share of tuxes on his wr noiiiiI property. He was, It Is further clmrged, ermlttcd to evade tho pay ment of over 92,000,000 taxes during tho Inst eight years of Ids life. "All of this," the letter says, "was made fresh water commerce. It Is tho big Kost and best dock In tho greatest city on tho whole chain of tho groat lakes. What do you suppose tho Goodrich folk pny the city for this valuable property V Only 93,000 n year rentnl ! From Nriod to period tho leaso has been renewed, WITHOUT ADVI'R TIHKMKNT, nud always nt' tho same old figure. Tlio Inst lease) or "agreement" was drawn up by tho city bureau of com IK'imntlon. it is of date of May 1, 11)011, und runs for three years, or until 11)00. Tho leasing by tho city of tho great Goodrich dock, east of Rush street bridge, for tho paltry sum of ).,(mni pel' jenr, without mltci'llslng fur bids Onialia Packing Company, Prussian National Insurauco Com pauy, of Stettin Germany. Mr. Louis F, Swift Is n director In tho following. How much stock does ho own? At nil events ho can glvo tho Hoard of Review much valuablo In formation : t Union Stock Yards Company. Fowler Brothers, Limited. Llbby, McNeill mid Llbby. National Packing Company. St. Louis National Stock Yards Com pany. Swift's Refrigerator Transportation Comimny. Hollls Cold Storage Company. Illinois Cnttto Company, Moclmnlcnl Manufacturing Company, South San Francisco Laud aud In vestment Company. Springfield Provision Company. Swift's Fertilizer Works. Western Moat Compauy. Tbo Armour Tank Line carries groaso to most of tho soap makers of the countrr outsido of Chicago. It Is a big thing in Itself, nnd should not forgot the tax collector. Millions of dollars that belong In tho public treasury nave been wrong fully withheld from the people's use by derelict officiate to use no stronger term. These millions would give us plenty of money to double our police force; would give our firemen eight hours work a day; would provide oae good by the smaller taxpayers of Chi capi to their great loss mid Injur." Marshall Field ft Company nro only valued ut 90,000,000 by tho nssosiors, nnd taxed on one-fifth of It. In view of this fact, It Is Interesting to note the Insurance carried by this linn, which Is ns follows: Htnto street section 91,000,000 Wi.bash nvcnuo section .... 1,500,000 Wholesale 3,000.000 Mndlson street .".00.000 Fixtures 500,000 Warehouse, Polk street nud the River .1,000,000 Total 910.000,000 These figures take no notice of 'lie fact that the Insurance Is suppowd to cover but 80 per cent of tho roil value, which would mnko tho assessors' val uation n-i-icur About 91-1,000,000 shy of tho truo figure. astounds everyone. In tho opinion of able lawyers, thcr very fact that bids were not advertised for Invalidates tho lease. This lenso Is worth from 930,000 to 9100,000 n year to tho city, as It Is tho very best dock properly on tho whole chain of lnkes. Several people would gladly bid $30,000 for It if they wero given a chance. This sort of business Is played out with tho public nud the facts once understood will arouse a storm of ludlguutlou. The Goodrldi gang have all their slenmlHiiits registered from Duluth, Minnesota, from which port they "hall," although they do not run to it. It Is alleged that tills crowd "hall" their vessels from Duluth to esoapo taxation hi Chicago, and yet Chicago furnishes them with police, fire and other protection. full seat for every child desirous of attending the public schools and would provide a largo number of klndcrgnr- teiw, public baths and other public necessities. The Hoard of Revlow must make tho packing Interest pay Its Just share of tho taxes. Ron! estate tuxes nro very high nud will stny high for tho next four years. Tho rich tax dodgers, who get out of paying their just personal taxes are rcsiwuslblo for this. Perhaps the Board of Review will do nothing this year with the tax matters mentioned on tho second pago of this wpcr. But you can bet on ono tiling without fear of losing and that Is, that boforo this fight Is ovor twenty millions of back taxes will be collected by tho people. Every small shop keeper and every moclwulc who lias a little saved has to pay taxes upon that little. But rich holder of stocks in outside corpo rations eseapo Scott free. Equal and Just taxation with no dodging on the part of rich stockhold ers is what the people demand. tuo Armour estate assessed on 9100,000 and the Field estate on over 913,000,000 makes quite 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 Taxpayers Are Very Much In terested in the Developments of This Great Wealth, Yet the Chicago Assessors Could Only Find Two and One-half Millions to Tax. "Chicago Securities" for 1007 gives tho following facts about Armour ft Company, on pago 380. Armour ft Comimny, organized un der tbo laws of Illinois, April 14, 1000. Capital stock, 920,000,000. Property The plants controlled by tho corporation are tho packing bouses, fertlllzor works, glue factory, soap fac tory und hair factory in Chicago, aud tho packing houses In South Omaha, Sioux City, East St. Louis and Fort Worth. Tho Imjiortancc of the pack ing lwuscs nnd plants controlled by tho organization Is known nil over tho civilized world. Tlie gluo factory Is one of the largest In the country. Tho soap factory Is also operated on a largo scale. Although tho capital nlono of tills treat concern Is 920,000,000 the asses sors could only find 92,000,000 of per sonal property belonging to It. Tho legal tax on 920,000,000 Is 9280, 000. Tho tax on 92,300,000 is 933,000. So tbo people loso In taxes on the capital of this concern alono 9245,000 every year. This makes a total of back taxes due for fivo years, according to Supremo Court rulings In other cases, of 9L225, 000. This docs not includo tbo amount of taxes duo present and back on tho stock of Armour ft Company of New Jersey, Armour car fines, Hammond Packing Company, National Pncklng Company, Union Stock Yards of Omaha, And a number of other equally val uablo concern owned by It. Tho personal property of Armour ft Company, outsido of Its capital stock mounts up towards $(10,000,000 and may exceed that sum, as this corpora tion, uultko Swift & Company, does not furnish Its figures to "Chicago Se curities." Armour ft Company owns n great deal of stock In outsido cor porations, every dollar of which is taxablo hero In Chicago. Among others Armour ft Coiupnuy, of New Jersey. The following taken from pages 201 und 202 of the report of tho United States Commissioner of Corporations, tells us something upon this subject: "Tho New 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 all the branch houses for tho salo of beef nud other packing houso products supplied by Armour ft Company, of Illinois. It nlo owns tho Armour packing houses nt Sioux City nnd Fort Worth. For con venience tho accounts of Armour ft Company, of Now Jersey nro carried on tho hooks of Armour & Company, of Illinois. To ascertain tho buslnoss transactions of tho New Jersey cor poratlon, It Is merely noconsary to take tho accounts relating to the branch houses nnd those relntlng to tho Fort Worth nnd Sioux City lacking houses. Tho company, however, Is a genuine one, having larjjo nctunl nssets of Its own, not n mcro piper name. It has no scparato books nud no profits scp arato from thoeo appearing In tho ac counts of Armour & Compauy, of Illi nois." How long the pooplo of Chicago will contluuo to pay high taxes while con cerns llko this escape as thoy do, is problematical, Samuel McRoborts should tell all when called beforo the Board of Ro vlow. Will Corporation Counsol Brundage get after Armour, Swift and the rest of the boys? Assistant Corporation Counsel John W. Hill startled bis lioarors In tbo chamber where the Board of Review was meeting by de claring that be baa already secured I sufficient evidence ajalnst wealthy tax dodgers in Chicago to warrant hist 1st going before the grand Jury upon tf tcen minutes' notice. "Tho corporation Counsel's eeVs kv tends to keep a stenographer la as tendance at the sessions of the Boar of Review from now on," declared Mr. Hill. "That stenographer will be use for securing a verbatim record of per sons of wealth who tnako Tfrittmwte beforo tho board in support of a claim for reduction of their taxes. "It is a hard problem to decide Just whero to begin, because nearly every body seems to think lightly of their oaths when they como to discuss the value of their personal property with taxing officials. However, it is a fact that I already possess evidence ntl cleut to Justify mo lu appearing before ino grand jury in fifteen minutes. It Is also highly probable thai tax dodg ing will be brought bofore the atten tion of the grand Jurors before the pres ent hearing ends." In the meantime, tho poor real owners of Chicago are settla (fee fan benefit of tho tax dodglug tactics of tho big millionaire Real estate taxes wero never so high lu Chicago's his tory. The poor man must pay, bat the rich follow escapes with his untaxed fortune Henry P. Darlington should give up what ho knows whon the Board of Rovlew asks him. Ono of tho taxing diktats of Cook County says that it Is discretionary with taxing otllccrs as to what they Rlioll tax. Is It? Who gave them this dlscretlounry powor? Not tho laws of Illinois. J. Ogden Armour would " e, startling nnd valuablo Board ef Re vlow witness. Arthur Meeker coujd toll the Board of Revlow who owns stock la Ohtoago, In tho followhu; corporations, of which ho Is a director: Union Stock Yards. Chicago Junction Railway. (. 11. Hammond Company. National Packing Company. Peoples' Trust ft Savings Batik. The packers hnvo been buying cattle "subject to jwst mortem." Thoy will MK)n llud out thnt they lmvo been pay lug taxes subject to iwst mortem and wmi mo peopio nro about ready to noid the examination. Sain. McRobortH and J. Ogden Ar mour nro good names to conjuro by and pleaso don't forgot Louis F. Swift, Arthur Meeker should furnish the fuotH wheu questioned by tho Board of Rovlew. Don't forget that beforo this fight Is over, tliat over twenty millions of dollnrs lu back taxes will have been collected. Laurence A. Carton would be an excellent man for the Board of Re view to consult Wiiat Interest deserves tho most ben efit from tho flro department? Every body knows that it is tho packing in terest Why, then, should the packing Interest keep back the twenty millions of dollars In taxes belonging to the people? Louis f. swift would not have s tell anything about Lake forest as sessments If called before the Board of Review. He could Just tell what he knows about personal property In Cbloaas.