Biscoe v. Coulter
Supreme Court of Arkansas
Appeal from the Circuit Court oj Sevier county in Chancery. argued at considerable length, that upon the sale of the bonds of the State issued to the Real Estate Bank, it became as impossible for the State to tax the lands mortgaged by the stockholders of the bank to secure their stock bonds, for á tax imposed upon the owners of the lands, as to tax her own absolute property.
Read the full summary
Appeal from the Circuit Court oj Sevier county in Chancery. argued at considerable length, that upon the sale of the bonds of the State issued to the Real Estate Bank, it became as impossible for the State to tax the lands mortgaged by the stockholders of the bank to secure their stock bonds, for á tax imposed upon the owners of the lands, as to tax her own absolute property. That if the State could tax the mortgaged lands at all, it was the mere tax on the equity of redemption; that if she could sell at all, the sale merely passed the equity of redemption; that if the tax created any charge…
1Opinion of the CourtChief Justice English
On the 29th of January, 1850, Biscoe and others, trustees of the Real Estate Bank, filed a bill in the Sevier Circuit Court, against David R. Coulter, Turner H. Buckner, William Wright, Benjamin F. Hawkins, Henry K. Brown, and Wm. Moss, “to carry decree into execution, of revivor, and in the nature of a supplemental bill.”
The bill sets out and exhibits the deed of assignment by which the Real Estate Bank, on the 2d of April, 1842, transferred to trustees all its assets for the benefit of its creditors; and the several occurrences by which the complainants became trustees under the provisions…
2Cases cited4 opinions
- Merrick & Fenno v. HuttSupreme Court of Arkansas · 1854
- Watson v. PalmerSupreme Court of Arkansas · 1844
- Carpenter v. SawyerSupreme Court of Vermont · 1843
- Patrick v. DavisSupreme Court of Arkansas · 1854
3Cited by5 opinions
- Steinfeld v. StateArizona Supreme Court · 1930
- Cheney v. Georgia-Pacific Paper CorporationSupreme Court of Arkansas · 1963
- Trustees for the Support of Public Schools v. Inhabitants of TrentonSupreme Court of New Jersey · 1879
- Cracraft v. MeyerSupreme Court of Arkansas · 1905
- Slaton v. PrideSupreme Court of Arkansas · 1938