People Ex Rel. Groton Savings Bank v. Barker
New York Court of Appeals
Appeal from an order of the Appellate Division of the Supreme Court in the first judicial department, entered June 18, 1897, which reversed an order of Special Term vacating an assessment upon the stock of certain banks in the city of New York, held by the relator, for the purposes of taxation for the year 1891. The facts, so far as material, are stated in the opinion.
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Appeal from an order of the Appellate Division of the Supreme Court in the first judicial department, entered June 18, 1897, which reversed an order of Special Term vacating an assessment upon the stock of certain banks in the city of New York, held by the relator, for the purposes of taxation for the year 1891. The facts, so far as material, are stated in the opinion. The court below erred in reversing the order of the Special Term and affirming the assessment, because the money represented by these shares of stock was “ due to depositors,” and, therefore, exempt from taxation. (L. 1857, ch.…
1Opinion of the CourtO’Brien, J.
The defendants, as commissioners of taxes and assessments in the city of New York, in the year 1894, assessed the relator, a savings bank, incorporated and existing under the laws of the state of Connecticut, in the sum of $43,000 as a part of its surplus invested in bank stocks in the city of New York. The court at Special Term reversed the action of the assessors and set aside the assessment as unauthorized. The controversy in that court seems to have turned upon the question whether the deposits in savings banks were debts, within the meaning of the statute, which can be offset against…
2Cases cited1 opinion
- People Ex Rel. Savings Bank of New London v. ColemanNew York Court of Appeals · 1892
3Cited by2 opinions
- In re HaightAppellate Division of the Supreme Court of the State of New York · 1898
- People ex rel. Newburgh Savings Bank v. PeckNew York Supreme Court · 1898