City of Madison v. Whitney

The Indiana Bank is a stock bank, organized under the general banking law of Indiana, doing business *262and having its banking house in the city of Madison. the paid-in capital of the bank, at the time of the assessment of the taxes hereinafter mentioned, was 103,500 dollars. A part of the stock, viz: 90,000 dollars .thereof, had been invested in the bonds of the United States, issued and purchased by the bank after the passage of the act of Congress of February 25, 1862. “ the said bank having loaned that much of her capital to the United States and taken said bonds therefor.”

the city of…