Iron City Bank v. City of Pittsburgh
Supreme Court of Pennsylvania
Error to tlie District Court of Allegheny county. This was an amicable action in debt by the Mayor, Aldermen, and Citizens of Pittsburgh against the Iron City Bank, to recover the sum of $243.66 claimed to be due from the defendant to the plaintiff for city purposes, in which a case was (stated for the opinion of the court below.
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Error to tlie District Court of Allegheny county. This was an amicable action in debt by the Mayor, Aldermen, and Citizens of Pittsburgh against the Iron City Bank, to recover the sum of $243.66 claimed to be due from the defendant to the plaintiff for city purposes, in which a case was (stated for the opinion of the court below. The case set forth the incorporation of the bank in 1857, with a capital of $400,000, under the banking law of 1850; its organization as a bank of issue, that the profits of its discount business for two years were included in and formed part of the semiannual…
1Opinion of the Court
The opinion of the court was delivered, by
Woodward, J.
The Iron City Bank was incorporated in 1857, subject to a tax on its dividends according to the scale prescribed in the 21st section of our general banking law of 16th April 1850, and subject also to the taxation of its stock in the manner prescribed in the 33d section of the Act of 29th April 1844. This section was omitted from the general law of 1850, but was restored by the Act of 27th of April 1852, the first section of which concludes with a proviso “ that the capital stock of such hanks shall not he subject to taxation for any other…
2Cases cited4 opinions
- Fletcher v. PeckSupreme Court of the United States · 1810
- Boyd's Lessee v. GravesSupreme Court of the United States · 1819
- New Jersey v. WilsonSupreme Court of the United States · 1812
- Piqua Branch of State Bank of Ohio v. KnoopSupreme Court of the United States · 1854
3Cited by2 opinions
- Manheim Borough v. Manheim Water Co.Supreme Court of Pennsylvania · 1910
- City of Pittsburgh v. Allegheny Valley BankCommonwealth Court of Pennsylvania · 1978