People Ex Rel. Union Trust Co. v. Coleman
New York Court of Appeals
Appeal from judgment of the General Term of the Supreme Court in the^first judicial department, entered upon an order made the first Monday of October, 1890, which affirmed an order of Special Term dismissing a writ of certiorari to review an assessment of the relator’s capital for the year 1889. The relator is a corporation organized under a special act of the legislature of 1864 (Chap. 316, Laws of 1864), doing business as a trust company in the city of Mew York.
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Appeal from judgment of the General Term of the Supreme Court in the^first judicial department, entered upon an order made the first Monday of October, 1890, which affirmed an order of Special Term dismissing a writ of certiorari to review an assessment of the relator’s capital for the year 1889. The relator is a corporation organized under a special act of the legislature of 1864 (Chap. 316, Laws of 1864), doing business as a trust company in the city of Mew York. On the second Monday in January, 1889, it furnished to the commissioners of taxes and assessment a detailed statement of its…
1Opinion of the CourtFinch, J.
The relator has been assessed upon an “ actual value ” of its capital stock derived entirely from the market - value of its shares. These are selling at the large premium of something over five hundred dollars for each share of one hundred dollars, and the assessors have coneededly taken that valuation, or the principal part thereof, as the “actual value” of the company’s stock liable to taxation, instead of its own proved and established value. The relator challenges the assessment, and through all the proceeding has persistently raised and pressed the inquiry, not so much as to the mode or…
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