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nydus/The History of the Great American FortunesPublic
Page 338 of 340
Table of Contents
6

Eighth Biennial Report of the Illinois Bureau of Labor Statistics, 1894. The report, made public in August, 1909, of the Illinois Tax Reform League's investigation of the Chicago Board of Review's assessments, showed that these frauds in evading taxation not only continue, but on a much greater scale than ever before. The Illinois Tax Reform League asserted, among other statements, that Edward Morris, head of a large packing company, was not assessed on personal property, whereas he owned $43,000,000 worth of securities, which the League specified. The League called upon the Board of Review to assess J. Ogden Armour, one of the chiefs of the Beef Trust, on $30,840,000 of personal property. Armour was being yearly assessed on only $200,000 of personal property. These are two of the many instances given in the report in question. It is estimated (in 1909), that back taxes on at least a billion dollars of assessable corporate capital stock, are due the city from a multitude of individuals and corporations.

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