State Tax Commission v. Englar

This case is similar in its essential points to that of Mayor and City Council of Baltimore et al. v. Harper (148 Md. 234), just decided. The question here, too, is whether a mortgage participation certificate is taxable as a certificate of indebtedness or evidence of debt of a corporation, not exempted by law, under article1 81, section 214 of the Maryland Code. The certificate to be considered here is not identical in terms with that considered in the Harper case. It is issued by a corporation named tlie Mortgage Guarantee Company, and begins with an acknowledgment of receipt, from the…