People ex rel. Panama Railroad v. Commissioners of Taxes
New York Supreme Court
Writs of certiorari have been allowed in this ease to review the action of the tax commissioners upon an assessment made by them upon the personal estate of the relator for the year 1882. The par value of its stock (as shown by the return to the writs) was $7,000,000. The commissioners took its actual value — $14,280,000 — as the basis of their assessment, and made the following tabular statement as the result of their action: Capital stock of the relator................ $7,…
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Writs of certiorari have been allowed in this ease to review the action of the tax commissioners upon an assessment made by them upon the personal estate of the relator for the year 1882. The par value of its stock (as shown by the return to the writs) was $7,000,000. The commissioners took its actual value — $14,280,000 — as the basis of their assessment, and made the following tabular statement as the result of their action: Capital stock of the relator................ $7, 000, OO'O Value of capital stock, fixed by us after full and careful examination at 204................ 14, 280, 000…
1Opinion of the CourtLarremore, J.
It must be assumed, upon the papers submitted, that the stock in question was at a premium of 104 when the assessment was made. Its then actual value was *407$204 per share, and upon such valuation it was properly assessed in pursuance of section 3, chapter 456, Laws of 1857 (Oswego Starch Factory agt. Dolloway, 21 N. Y., 455; The People agt. Dolan, 36 N. Y., 62; Same agt. Ferguson, 38 N. Y., 91; Same agt. McLean, 80 N. Y., 254; The People agt. Broadway and Seventh Avenue R. R. Co., 1 Thomp. & Cook, 635).
There is nothing in The People agt. Board of Assessors of the City of Brooklyn (39 N. Y., 81)…
2Cases cited4 opinions
- People Ex Rel. Citizens' Gas-Light Co. v. Board of AssessorsNew York Court of Appeals · 1868
- Oswego Starch Factory v. . DollowayNew York Court of Appeals · 1860
- People Ex Rel. Bay State Shoe & Leather Co. v. McLeanNew York Court of Appeals · 1880
- People ex rel. Broadway v. Commissioners of TaxesNew York Supreme Court · 1873