Dauphin Deposit Trust Co. v. United States

BUFFINGTON, Circuit Judge.

This case involves the claimed right of the government to exact a documentary tax *894on certain written certificates issued by the taxpayer. The lower court upheld the government’s position, whereupon the taxpayer appealed.

The facts of the case are these: The taxpayer is a chartered bank of Pennsylvania which is authorized to, and does, conduct two distinct departments—one, banking; the other, the administration of trust. The funds of each are kept separate. In the course of its business, the banking department takes mortgages, which pay 6 per cent, interest, from…