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THE OH 10 AGO EAGLE, SATURDAY, MARCH 28, 1908. WHY REAL ESTATE TAX HIGH. SWIFTS BIG CONCERN. Members of the Board of Assessors and Others Should Know About This Corporation. READ THE OPPOSITE PAGE AND BE CONVINCED ARMOUR'SJIG PLANT. Members of the Board of Assessors and Others Should Read About This Corporation. IS Its Capital and Its Enormous Profits as Set Forth by Itself. Over Ninety-two Million Dollars Worth of Quick Assets On Hand 1 Just Now. Jfot to Mention Fifty Million! of Dollars in Capital Stock All Paying Dividend!, And Yet the Board of Alienors Could Only Find Three Million! to Tax. "Chicago Securities" for 1007, pages '3.10, 840 and .141, gives the following -fnets nbout Swift & Company, tlmt great corporation which the Board of Assessors could only discover $3,000', 000 belonging to: Swift & Company Organized April 1, 1883. Capital Stock, $50,000,000, nil of one class, of tho par vnluo of $100 per bare. Dividends Seven per cent per an num In quarterly dividends of 1 per cent, January, April, July nnd October. learnings The report for the year ending December 31, 1000, shows net earnings were equal to 12 per cent on the capital of $30,000,000. After payment of tho rqgular 7 per cent dividend, there was added to tho sur plus account $2,500,000, equal to 5 per cent on tho cnpltal stock, Increasing the total surplus to $12,400,005. Tho company's gross business was consid erably over $200,000,000 nnd tho Item of quick assets was increased $10,553, 732. Tho bnlauco sheet of December 31, 4000, shows n total of assets on hand of $02,710,847. And this Is tho concern that Is taxed ou one-fifth of $3,000,000! 'Tho "quick assets" of this concern, that Is, personal property nvnllablo for Immediate use as money, was listed us follows ou September 20, 1000: 'Cash ? 3,100,00- Accounts receivable 20,330,801 Inventory 21,334,374 Stocks and bonds 11,408,800 Total $05,354,720 Tho personal proporty of this con cern, Increased from $12,108,140 In 1001, to $10,820,007 In 1005, nnd from the latter figure to $05,354,720 lu 1000. This Is exclusive of tho capital stock of $50,000,000. Making a totnl of personal property owned by Swift & Company lu Chi cago at tho beginning of 1007 of over 115,000,000. And yet tho Board of Assessors value Its holdings at only $3,000,000 and tax It on one-fifth of this nmotiut. What do you think of that? Swift and Company, the corporation, should pay . taxes on Its $50,000,000 capital stock according to the law of Illinois. The assessors have listed Its per sonal holdings at ouly $3,000,000. Nor Is this alL Swift and Company, of Illinois, that ireat corporation capitalized for $50, 000,000 should pay taxes on every dol lar's worth of stock It owub lu foreign corporations. Has the Board of Review over taken any steps to ascertain bow much the corporation or Its oiucers own in cor porations outside tho Stato? I'erhaps we may help them by quot ing the followlug list of outsldo cor porations owned by Swift and Com pany, of Illinois, according to the re port of the United States Commission er of Corporations: Swift aud Compunj, of Maine, a cor poration which sells the output of Swift and Company, of Illinois, In the Now England States aud parts of New York aud New Jersey, and owns a control ling Interest In tho firms of the Swift Beef Company, of Boston; Q. F. and H. 0. Swift, Boston; 0. F. Swift and Company, Boston, and N. B. Hollls and Company, Boston, Massachusetts. Swift and Company, of West Vir ginia, which operates many branches In several different States for selling beef, pork, .mutton, canned goods, etc., etc. , Swift And Company, of New York, which coutrols a large number of Irnmcb houses In the State of New York, all doing a big business. Swift FertMfjr Works, engaged In manufncturlng fervilltera In the State of i-Gorgla. Swift Refrigerator Transportation Company, anu (Swift Live Stock Trans portation Company, corporations of tho Stato of Maine. Swift Beef Company, Limited, do ing business In Great Britain. Swirt Tacking Company, selling agents for Swlft.and Company, of Illi nois, In Germany. Swift aud Company, of Illinois, are 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 nnd the St Paul Union Stock Yards Company. Besides tho corporations already named, tho Swifts are said to own aud absolutely control Llbny, McNeil and Llbby, of Maine; John 1. Squire and Company, a New Jersey corporation, with a big packing plant In Cambridge, Mass., and branches all over New Eug land: Boston Tacking and Provision Company, of Massachusetts; Now Eng land Dressed Meat nnd Wool Company, of Mnlno; North Tacking nnd Provision Company, of Malno ; Spcrry and Barnes Company, of Connecticut; Kturtcvant and Haley, of Boston ; P. Merwtn Com pany, Worcester, Mass.; Sprlngllcld Provision Company, Springfield, Mass.; White, Percy and Dexter Company, Worcester, Mass.; Halstead and Com pany, New York ; C. II. Dnvls and Co., Norwich, Conn.: Blmblcr, Van Wngo non and Company, Newark, Now Jor-soy. The capital stock of all of tho abovo corporations' being owned In Chicago. Why don't tho people of Chicago get tho benefit of It? The Board of Rovlow certainly ought to get enough out of them to cnnblo tho city to equip a good, street cor line. Armour and Company, a big Chicago and Illinois corporation, owns a great deal of stock In outside corporations. Among others Armour and Company, of Now Jersey. , Tho following taken from pages 201 and 202 of the report of the United States Commissioner of Corporations, tells us something upon this subject: "The New Jersey corporation was formed for the purposo of transacting certain business which the Illinois corporation was uot authorised to transact. Armour and Company, of Now Jersey operates practically all tho braucb houses for the sale of beef and othor packing bou3o products sup plied by Armour nnd Company, of Illi nois. It also owns tho Armour pack ing houses at Sioux City and Fort Worth. For convenience tho accounts of Armour and Company, of Now Jer sey aro carried on tho books of Armour and Company, of Illinois. To ascertain tho business transactions of the New Jersey corporation, It Is merely neces sary to tako tho accounts relating to tho branch houses and tboso relating to the Fort Worth aud Sioux City packing houses. The company, how over, is a genuine one, having largo actual assots of its own, not a mere paper name. It has no separato books and no profits separate from those ap pearing In tho accounts of Armour aud Company, of Illinois." After rending tho above from the report of tho United States Commis sioner of Corporations, we would like to ask whero our Board of Assessors nnd Board of Revlow havo been? And then the following might claim the attention of the Board of Review: Armour Car Lines Company New Jersey; $750,000 stock. Directors and owuers; J. Ogden Armour end asso ciates. Armour Grain Company New Jer sey; $1,000,000 stock. Directors and owners: J. Ogden Armour and asso ciates. National Packing Company New Jersey; $15,000,000 stock. Directors aud owners: J. Ogden Armour, L. F. ftwlft, B. F. Swift, Edward Morris, N. Morris, T, J, Connors, TbotMW MARSHALL FIELD & Marshall Field & Company carry $10,000,000 Insurance, and are said to have outstanding accounts duo them on the first of April of each year, when tax schedules aro filed, of $5,000,000 In the wholesale nnd $3,000,000 In their retail store. Yet they arc only taxed on $0,000,000. Tho $10,000,000 Insurance probably stands for $20,000,000 worth of prop erty nnd the $8,000,000 In outstanding accounts makes n total of $28,000,000. As the firm Is only taxed on $0, 000,000 by tho assessors, these figures would show $22,000,000 escaping taxa tion. This $22,000,000 has to bo made up somewhere, nnd It Is made by taxing the real estate of the small property owner, to tho limit Marshall Field & Company hnve ab sorbed the business of so many scores of small dealers, nnd havo occupied so much alley nnd dldewulk spaco belong GOODRICH TRANSIT CO. Tho Goodrich Transit Company Is a eorioratlon organized under tho laws of tho Stato of Maine. .Capital stock, $500,000. Every dollar's worth of this stock owned In Chicago Is taxable here. The Reviewers should call A. W. Goodrich nnd nsk him who owns It Mr. Good rich ought to kuow and tho people want to know. Who does tho fine work for tho Goodrich Steamboat gang at tho City Hall? It Is not generally known that tho dock used by tho great Goodrich Inter ests Is city property. It Is at River street, with a dock frontngo of 352 feet, with n depth ranging from 53 to 43 feet. This dock Is tho very State street of STATE In order to show tho favoritism shown to Marshall Field & Company In tho mutter of personal property as sessment, Tho Eagle subjoins a state ment of the personal tax assessment of that firm and thnt of other dry goods houses, together with tho Insur ance carried by each on tholr personal B. Wilson, Arthur Meeker, S, Mc Itoberts aud L. A. Carton. Tho Hoard of Rovlow should sum mon tho following woll-known citizens and luterrogato them with reference to tho nraouut of stock In foreign cor porations owued lu Chicago, which they have knowledge of; J, Ogden Armour. Louis F, Swift John A, Spoor. Laurenco A. Carton. Arthur Meeker. Mr. Swift and Mr. Armour are both reported to bo public-spirited. They should both be willing to help In this matter. They can, If they will, help a great deal by telling the Board of Review what they know. Mr, Armour Is a director In the fol lowing .corporations and the Board of THE PUBLIO BE D Dl ing to tho public that the concern Is really n great public Institution of a certain kind. Then again, Marshall Field & Com pany arc In favor of n high pressure water system which will cost the tax payers millions of dollars to Install. But we do not hear of small mer chants shouting for high pressure water system. Tho collection of over $3,000,000 al leged hack taxes against the estate of tho late Marshall, Field was urged upon tho Board of Itovlcw by tho Illi nois Tax Reform Association. Marshall Field, thu association in sists, never paid more tlmu 10 per cent ou his fair share of taxes ou his per sonal property. He was, It Is further charged, permitted to evado tho pay ment of over $2,000,000 taxes during tho last eight years of his life. "All of this," tho letter says, "was made fresh water commerce. It Is tho big gest and best dock lu tho greatest city on the whole chain of tho great lakes. What do you suppose tho Goodrich folks pay tho city for this valuable property? Only $3,000 n yenr rental I From period to period tho leasa has bwn renewed, WITHOUT ADVER TISEMENT, and always at tho samo old figure. Tho last leaso or "agreement" was drawn up by tho city bureau of com ixmsntton. It is of dato of May 1, 1000, and runs for threo years, or until 1000. The leasing by tho city of tr.e great Goodrich dock, cast of Rush street bridge, for tho paltry sum of $5,000 per venr, without advertising for bids, STREET property. Tho render will note the difference between the Field nssow niont and the Insurance carried, nnd then figure out how much taxation this "public spirited" concern escapes: Marshall Field & Company Assess ment (8 addresses), $5,350,000; insur ance. $10,000,000. Carson, I'lrle, Scott & Co. Assess Rovlow, If It wishes, can ascertain how much stock ho owns lu each, or what Chlcagoaus do owu It, as It Is taxablo: Armour car Hues, Armour Grain Company, Central Leather Company, a. II. Hammond Company, ' Hammond Packing Company, National Packing Company, United States Leather Company, Chicago, Milwaukee & St Paul Rail way Compauy, Fort Worth Stock Yards Company, Fort Worth, Texas. Hutchluson Packing Co., Hutchinson, Kansas, Northwestern National Fire Insur ance Company, of Milwaukee, Wis. Omaha Packing Company, Prussian National Insurance Com' pany, of Stettin Germany. Mr, Louis F. Bwlft la fihwotor In COMPANY. good by the smaller taxpayers of Chi cago to their great loss nnd Injury." Marshall Field & Company aro only valued at $0,000,000 by tho assessors, and taxed ou one-fifth of It. In view of this fact, It Is interesting to note the lusurnnco carried by this firm, which Is as follows: Stato street section $4,000,000 Wiibash nvcuuo section .... 1,500,000 Wholesale 3,000.000 Mndlson street 500,000 Fixtures 500,000 Warehouse, Polk street nnd the River 8,000,000 Totnl $10,000,000 These figures rnko no notice of ho foot that tho Insurance Is supposed to cover but 80 per cent of tho real value, which would niako tho assessors' val uation appear about $14,000,000 shy of tho truo figure. astounds everyone. In tho opinion of able lawyers, tho very fact that bids woro not advertised for Invalidates tho lease. This leaso Is worth from $50,000 to $100,000 a year to tho city, as It Is the very best dock property on tho whole chain of lakes. Several peoplo would gladly bid $50,000 for It If they were given a chance. This sort of business Is played out with tho public aud tho facts once understood will urouso a storm of Indignation. The Goodrich gang hare atl their itcamboats registered from Duluth, Minnesota, from which port they "hall," although they do not run to It It Is alleged that this crowd "hall" their vessels from Duluth to escape taxation In Chicago, nnd yet Chicago furnishes them with police, fire and other protection. STORES ment, $1,08.1,740; Insurance,, $2,450,000. Mnudcl Ilrothors Assessment, $S05, 000; Insurance, $1,050,000. Slegol, Cooper & Co. Assessment, $000,000; Insurance, $1,050,000. ltothschlld & Co. Assessment, $425, 000; Insurance, $055,000. Hlllmnn's Assessment, $250,000; in surance, $500,000. tho following. How much stock does ho owu? At all oveuts he can give tho Hoard of Review much valuable In formation : Union Sfock Yards Company. Fowler Brothers, Limited. Llbby, McNeill and Llbby. National Packing Company. St. Louis National Stock Yards Com pany. Swift's Rofrlgcrator Transportation Company. Hollls Cold Storage Company, Illinois Cattlo Copoany, Mechanical Manufacturing Company. South Snn Fr"-"'n 'and and In vestment Coinpnt-r, Springfield Provision Company, Swiff jc-tllzer Works. Western Meat Company. The Beef TrurJ to worse than aver. 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 the following facts nbout Armour & Company, ou page 3S0. Armour & Company, organized un der tho laws of Illinois, April 14, 1000. Capital stock, $20,000,000. I'roiicrty The plants controlled by tho corporation are tho packing bouses, fertilizer works, gluo factory, soap fac tory nnd bnlr factory In Chicago, and tho packing houses In South Omaha, Sioux City, East St Louis nnd Fort Worth. Tho Importance of the pack ing houses and plants controlled by tho organization Is known all over the civilized world. The glue factory Is ouo of the largest In tho country. Tho soap factory Is also operated on u largo scale. Although the cnpltal alono of this treat concern Is $20,000,000 the asses sors could only flud $2,000,000 of per sonal property belonging to it. The legal tax oil $20,000,000 Is $2S0, 000. Tho tax on $2,000,000 Is $.15,000. So tho people loso In taxes on the capital of this concern alone $245,000 every year. This makes a total of back taxes duo for live years, according to Supreme Court rulings In other cases, of $1,225, 0C0. This docs not Include tho amount of taxes duo present nnd back ou the stock of Armour & Company of New Jersey, Armour car lines, Hammond Packing Company, National Packing Company, Union Stock Yards of Omaha, Aud a number of other equally val uable concerns owned by It Tho personal property of Armour & NEW YORK Six years ago Chicago paid taxes on $125,000,000 personal property. This sum has dropped $27,000,000 In six years. Tho Chicago Assessors can only find ninety-eight millions of personal prop, erty in Chicago, according to their as sessment of 1007. In Chicago tho real estate pays al most the whole tax. In New York the Assessors tax seven billions of personal property. In New York the rich porsonnl prop erty owner pays most of tho tax. The total assessed valuation of Chi cago Is as follows: Ileal Estate $310,841,700 IVihonal Properly 0S,;ii:i,155 III contrast to this aro tjio figures foi Now York city, which nro: Heal Estato $0,2 IO.4SO.000 IVrsoiml Property 7,712,'.,0O,OOO The following taltlo of New York taxes Is Interesting in view of tho lino HERE'S THE RESULT. As a result of successful tnx-dodglug by rich corporations, Chicago real es tele pays nearly nil tho taxes. A summary of tho 1007 real estato and personal assessments, assessed val uations, Is us follows: Real estnto $310,841,700 Personal proporty 08,313,155 $445,181,015 The Assessors and Rovlowers could only find $08,000,000 worth of personal property In Chicago to tax, or only $0,- Tho Ileef Trust Is doing business nt the old stand nnd Is fixing and main taining a uniform prlco for ment lu do Ounce of the Injunction of tho United Company, outsldo of Its capital stock mounts up towards $00,000,000 and may exceed that sum, as this corpora tlon, unliko Swift & Company, docs not furnish Its figures to "Chicago Se curities." Armour & Company owns a great deal of stock In outside cor porntlom, every dollar of which Is taxable here lu Chicago. Among other Armour & Company, of New Jersey. The followlug taken from pages 201 and 202 of the report of tho United States Commissioner of Corporations, tells us something upon this subject: "Tho New Jersey coriorntlon was formed for the purpose of transacting certain business which tho Illinois coo poratloti was uot authorized to trans act Armour Ac Company, of New Jer sey operates practically nil the branch houses for tho sale of beef and other packing house products supplied by Armour & Company, of Illinois. It also owns the Armour packing houses at Sioux City nnd Fort Worth. For con venience tho accounts of Armour A Company, of Now Jersey aro carried ou tho books of Armour & Company, of Illinois. To ascertain the business transactions of tho New Jersey cor poration, It Is merely necessary to take tho accounts relating to the branch houses and those relating to the Fort Worth nnd Sioux City packing houses. Tho company, however, Is a genuine one, having largo actual assets of Its own, not n mere paper name. It hat no separato books and no profits sep arato from thoso appearing In the ac counts of Armour & Company, of Illi nois." How long tho peoplo of Chicago will continue to pay high taxes while con corns llko this escapo as they do, la problematical. HITS THEM tlmo that tho personal tax dodgers union has In Chicago: Tho following tablo will show tho real estate assessments lu 100S for the livo boroughs of New York city: Manhattan aud Bronx.... $4,301,070,050 Uronx .100,087,730 Ilrooklyu 1,181,221,010 Queens 217,008,775 ltlchmoud 52.031,235 Total $0,2 lO.lSO.OOO Following aro tho figures of Now York's personal tax list for lt)0S: Manhattan $5,51)1,000,000 Bronx i:i',),(i00,000 Ilrooklyu I,:i20,000,000 Queens 201,(100,000 Ulclunoiul 01,000,000 Total $7,712,200,000 Chicago's personal tax list has fallen from $125,000,000 to only $08,000,000 In live years. 000,000 moro than Swift & Company alono had on hand ou January 1, 1007, nccordlug to "Chicago Securities," pages 330 to 341. The poor real estato owuor has to hdar nil tho burden of supporting tho government, of making Improvements nnd of protecting tho property and In terests of tho tnx-dodglng rich! Talk about n "slnglo tax." Tho real estate owners of Chicago aro the vle tlous of tho most lnlquitlous single tax In tho world. States Supremo Court. When will tho Trust magnates ho sent to jail for this contempt of tho highest tribunal In the 5d? &VMHft .,... &tx .rtji ft!.