State v. President of the Waldo Bank
Supreme Judicial Court of Maine
Assumpsit to recover the amount of taxes alleged to be due from the bank to the State. The parties, by their counsel, agreed upon a statement of facts. The Waldo Bank was incorporated Feb. 11, 1832, with a capital stock of $50,000, and commenced the business of banking under the charter on May 15, 1832, but fifty per cent, of the capital being at that time paid in.
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Assumpsit to recover the amount of taxes alleged to be due from the bank to the State. The parties, by their counsel, agreed upon a statement of facts. The Waldo Bank was incorporated Feb. 11, 1832, with a capital stock of $50,000, and commenced the business of banking under the charter on May 15, 1832, but fifty per cent, of the capital being at that time paid in. Within thirty days after the first Monday of October, 1832, when the whole amount of the capital had been paid in, October 16, 1832, they paid a tax to the treasurer of the State of $ 93,84; and on April 24, 1833, another' tax of…
1Opinion of the Court
The opinion of the Court was by
Emery J.
If the V/aldo bank owed nothing to the State' payable within ten days after the first Monday of April, 1838, this action cannot be maintained. And this is the position as-1 sumed by the defendants.
By the second section of the act, c. 456, which took effect on the 25th of March, 1838, accepting the surrender of. the bank’s charter, it is provided, that the bank shall continue in its corporate capacity for and during the term of two years from the time the act shall take effect, for the sole purpose of collecting the debts due the corporation, selling and…
2Cases cited6 opinions
- Foster v. President of the Essex BankMassachusetts Supreme Judicial Court · 1819
- President of the Portland Bank v. ApthorpMassachusetts Supreme Judicial Court · 1815
- Spear v. GrantMassachusetts Supreme Judicial Court · 1819
- Perry v. WilsonMassachusetts Supreme Judicial Court · 1811
- Brown v. President of Penobscot BankMassachusetts Supreme Judicial Court · 1812
1 more not listed; retrieve them via the Exa API.
3Cited by2 opinions
- Defense Supplies Corp. v. Lawrence Warehouse Co.Supreme Court of the United States · 1949
- State Tax Comm. v. Evans, Co. Treas. of Weber Co.Utah Supreme Court · 1931