Intermountain Agricultural Credit Ass'n v. Payette County

On the second Monday in January, 1931, the appellant had outstanding 1132 shares of common stock and 83 shares of preferred stock owned by residents of Payette county, Idaho; 717 shares of common stock and 209 shares of preferred stock owned by residents of Idaho outside of Payette county; and, 32 shares of common stock and 124 shares of preferred stock owned by nonresidents of Idaho. On that day under sections 61-1401 to 61-1507, I. C. A., the assessor of Payette county assessed all of the shares of stock as in Payette county.

The trial court sustained the assessment of shares of stock owned…