Memphis v. Memphis City Bank
Tennessee Supreme Court
FROM SHELBY. Appeal from Chancery Court of Shelby County. ■J. S. G-alloavay, Probate Judge, sitting by interchange. • '
1Opinion of the CourtCaldwell, J.
The State brought this bill, on behalf of the city of Memphis, to recover from the Memphis City Bank and from its stockholders, respectively, certain ad valorem, taxes alleged to be due on capital stock and on shares of stock.
The bill was dismissed on demurrer, and complainant appealed.
The main defense is made upon the seventeenth section of the charter of the Memphis City Eire and. General Insurance Company, of which defendants claim the full benefit, and by which they contend that both capital stock and shares of stock are exempt from all taxation, except that prescribed therein.
The…
2Cases cited11 opinions
- Tennessee v. WhitworthSupreme Court of the United States · 1886
- Wallace v. LoomisSupreme Court of the United States · 1878
- Morgan v. LouisianaSupreme Court of the United States · 1876
- New Orleans v. HoustonSupreme Court of the United States · 1886
- New Orleans City & Lake Railroad v. New OrleansSupreme Court of the United States · 1892
6 more not listed; retrieve them via the Exa API.
3Cited by14 opinions
- Railroad v. HarrisTennessee Supreme Court · 1897
- Bank of Commerce & Trust Co. v. SenterTennessee Supreme Court · 1923
- Reelfoot Lake Levee District v. DawsonTennessee Supreme Court · 1896
- Shields v. WilliamsTennessee Supreme Court · 1929
- Sealed Power Corp. v. StokesTennessee Supreme Court · 1939
9 more not listed; retrieve them via the Exa API.