Ranchmen's Trust Co. v. Duncan

The opinion of the court was delivered by

Mason, J.:

The Ranchmen’s Trust Company, a Kansas corporation, owned stock in the Ranchmen’s State Bank, of Wichita. As such stockholder it was compelled to pay taxes on the stock, the return and payment being made in its behalf by the bank, in accordance with the statute. (Laws 1919, oh. 306, § 1.) The trust company in its statement of its capital stock, surplus and undivided profits made under the statute to aid the assessor in fixing the value of its shares, deducted the value of the stock it held in the bank— $56,540. The amount so shown in the…