Hartford Fire Insurance Co. v. Inhabitants of Hartford
Supreme Court of Connecticut
AT the session of the General Assembly, in May, 1810, the plaintiffs were incorporated, with the usual powers of a body politic, including the power to purchase and hold “ bank stock of any bank within the United States.”
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AT the session of the General Assembly, in May, 1810, the plaintiffs were incorporated, with the usual powers of a body politic, including the power to purchase and hold “ bank stock of any bank within the United States.” The second section of the charter provided, that the capital stock of the company should be 150,000 dollars, to be divided into shares of 50 dollars each, of which ten per cení, should be paid within sixty days, and the residue secured by mortgage of real estate, or by indorsed notes. The ninth section provided, that the corporation should keep their office in the city of…
1Opinion of the Court
Hosmer, Ch. J.
The general question in this case, is, whether bank stock, the property of the Hartford Fire: Insurance company, is taxable in the town of Hartford. The list-ers of that town gave notice to the inhabitants of it, to bring in their lists ; and for an omission on the part of the Hartford Fire Insurance company, they were four-folded. The money has been collected of them; and to recover it back, is the object of the present suit.
The law concerning taxation, by its general policy, operates noton corporations, but on individuals; and in respect of personal estate, it is usually rated…
2Cited by6 opinions
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- Town of New Haven v. City BankSupreme Court of Connecticut · 1862
- Wood v. Hartford Fire Insurance Co.Supreme Court of Connecticut · 1839
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