Jenkins v. Neff
Supreme Court of the United States
ERROR TO THE SUPREME COURT OF THE STATE OF NEW YORK. This case is before us on a writ of error to the Supreme Court of the State of New York, and is brought to review a final order of that court affirming an assessment of the shares of stock in the First National Bank of Brooklyn.
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ERROR TO THE SUPREME COURT OF THE STATE OF NEW YORK. This case is before us on a writ of error to the Supreme Court of the State of New York, and is brought to review a final order of that court affirming an assessment of the shares of stock in the First National Bank of Brooklyn. Under the practice prevailing in that State a writ of certiorari was issued out of tbe Supreme Court on August 13, 1897, on the petition of the stockholders of the First National Bank of the city of Brooklyn, now plaintiffs in error, directed to the board of assessors of the city of Brooklyn, requiring them to…
1Opinion of the CourtJustice Brewer
The right of the State to tax these shares of stock is not denied, but the' contention of plaintiffs in error rests on the applicability of that part of section 5219, Revised Statutes,- which reads “ that the taxation shall not be at a greater rate than is assessed upon other moneyed capital- in the hands of individual citizens of such State.” The purpose of this legislation was thus stated in Mercantile Bank v. New York, 121 U. S. 138, 155:
“ A tax upon the money of individuals, invested in the form of shares of stock in national banks, would diminish their value as an investment and drive…
2Cases cited2 opinions
- Mercantile Bank v. New YorkSupreme Court of the United States · 1887
- Hedrick v. Atchison, Topeka & Santa Fé RailroadSupreme Court of the United States · 1897
3Cited by12 opinions
- First National Bank of Hartford v. City of HartfordSupreme Court of the United States · 1927
- Kaufman v. TredwaySupreme Court of the United States · 1904
- Amoskeag Savings Bank v. PurdySupreme Court of the United States · 1913
- John D. Park & Sons Co. v. HartmanCourt of Appeals for the Sixth Circuit · 1907
- Iowa National Bank v. StewartSupreme Court of Iowa · 1930
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