Commonwealth v. First National Bank

Opinion by

Mr. Justice Bell,

This is an appeal from a judgment upholding a tax settlement made by the Board of Finance and Revenue fixing for purposes of taxation the value of the shares of stock of The First National Bank of Scranton. The Act imposes a tax on shares of capital stock of corporations doing a banking business: Act of July 15, 1897, P. L. 292, §1, as amended, 72 PS §1932; upon the actual value of such shares.

Section 1 of the Act provides: “. . . the actual value of each share of stock to be ascertained and fixed by adding together the amount of capital stock paid in, the surplus…