Shelby County v. Union & Planters' Bank

This is an appeal from the decree of the Circuit Court of the United States for the Western District of Tennessee, granting an injunction at the suit of the Union & Planters’ Bank to restrain the municipal authorities from collecting any tax laid upon the surplus of the bank, on the.ground that such surplus is exempt under a clause in the charter of the bank similar to the one discussed in the above cases of the Bank of Commerce, ante, 134. The Circuit Court granted the injunction and permanently enjoined the municipal authorities from the collection of the tax. They have appealed to this…