Maguire v. Board of Revenue & Road Commissioners of Mobile County
Supreme Court of Alabama
Appeal from Mobile Circuit Court. Tried before Hon. "William E. Clabke. The tax assessor of Mobile county, on 1st August, 1881, assessed, and returned for taxation to the judge of probate, ■ for each of the years 1878, 1879, 1880 and 1881, forty shares of the capital stock of the National Commercial Bank of Mobile, a corporation organized as a national banking association under the acts of Congress providing for the organization of such associations, which belonged to the…
Read the full summary
Appeal from Mobile Circuit Court. Tried before Hon. "William E. Clabke. The tax assessor of Mobile county, on 1st August, 1881, assessed, and returned for taxation to the judge of probate, ■ for each of the years 1878, 1879, 1880 and 1881, forty shares of the capital stock of the National Commercial Bank of Mobile, a corporation organized as a national banking association under the acts of Congress providing for the organization of such associations, which belonged to the appellant; and also the shares of said stock belonging to other shareholders. “These shares were assessed at par, without…
1Opinion of the Court
STONE, J.'
The authority to tax shares in national banking associations for State purposes, is uniformly held to be de*413rived from the act of Congress, which confers the power. Rev. Stat. U. S. § 5219; Pollard v. State, ex rel. 65 Ala. 628; Farmers' National Bank v. Dearing, 91 U. S. 29. Without such statutory concession, no such tax could be levied. The powér is conferred, not in general terms, but with limitations. The language is, that nothing in the laws of Congress “ shall • prevent all the shares of any association from being included in the valuation, of the personal property of the owner…
2Cases cited17 opinions
- Farmers' & Mechanics' National Bank v. DearingSupreme Court of the United States · 1875
- National Bank v. CommonwealthSupreme Court of the United States · 1870
- Van Allen v. AssessorsSupreme Court of the United States · 1866
- Supervisors v. StanleySupreme Court of the United States · 1882
- People v. WeaverSupreme Court of the United States · 1880
12 more not listed; retrieve them via the Exa API.
3Cited by19 opinions
- Duncan v. StateSupreme Court of Alabama · 1965
- Williams v. StateDistrict Court of Appeal of Florida · 1966
- Green v. StateSupreme Court of Alabama · 1882
- Thomas v. StateSupreme Court of Alabama · 1965
- State v. Stonewall InsuranceSupreme Court of Alabama · 1889
14 more not listed; retrieve them via the Exa API.