Investment SEC. Co. v. Meharg, SEC. of State

Mr. Judge SHORT

delivered the opinion of the Commission of Appeals, Section B.

This suit involves the proper construction of Article 7085, Title 122, Chapter 3, of the Revised Civil Statutes of 1925, which was Article 7394 of the previous statutes, prescribing franchise taxes to be paid by foreign corporations, and is a mandamus proceeding in which the precise question presented by the petition of the relator is:

“What is the proper basis for a franchise tax on a foreign corporation doing all of its business in this State, part of whose authorized capital stock has a par or nominal value and…