Standard, C., Co. v. American Salpa Corp.

The matter sub judice is an appeal filed in behalf of the State of Delaware, pursuant to the provisions of section 78 of the General Corporation act of New Jersey (Revision of 1896), from disallowance by the receivers of the defendant insolvent corporation, of franchise tax claims. The defendant, American Salpa Corporation, is a Delaware corporation. All of its assets were at all times located in Spotswood, New Jersey, where it had a manufacturing plant erected upon a large tract of land. The plant consisted of about twenty-one buildings, equipped with machines and other furnishings adapted…