Bank of Pennsylvania v. Commonwealth
Supreme Court of Pennsylvania
Error to the Common Pleas of Dauphin county. This was an appeal by the defendants, the President, Directors, and Company of the Bank of Pennsylvania, from the settlement of an account against the Bank made by the Auditor-General and State Treasurer, under the provisions of the Act of 30th March, 1811, relating to the settlement of public accounts.
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Error to the Common Pleas of Dauphin county. This was an appeal by the defendants, the President, Directors, and Company of the Bank of Pennsylvania, from the settlement of an account against the Bank made by the Auditor-General and State Treasurer, under the provisions of the Act of 30th March, 1811, relating to the settlement of public accounts. On the 15th April, 1851, those officers settled an account against the Bank, in which they stated a balance in favor of the Commonwealth of $51,068.75. It was for taxes upon dividends declared by the Bank in the years 1848, 1849, 1850, and the first…
1Opinion of the Court
The opinion of the Court, filed was delivered by
Black, C. J.
The Bank of Pennsylvania was first chartered in 1793. The charter was renewed in 1810, and afterwards again in 1830. By the last-mentioned act the Bank was incorporated for twenty-five years, with a capital of two and a half millions of dollars, and was required to loan to the Commonwealth a sum not exceeding four millions of dollars at a premium of five per cent., the certificates to bear an interest of five per cent. It was also enacted that all certificates of state stock should be issued and transferred at the Bank of…
2Cases cited5 opinions
- Proprietors of the Charles River Bridge v. Proprietors of the Warren BridgeSupreme Court of the United States · 1837
- Providence Bank v. BillingsSupreme Court of the United States · 1830
- Jackson v. LamphireSupreme Court of the United States · 1830
- Beaty v. Lessee of KnowlerSupreme Court of the United States · 1830
- State v. Commercial BankOhio Supreme Court · 1835
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- Commonwealth v. Alcoa Properties, Inc.Supreme Court of Pennsylvania · 1970
- Tennant v. KuhlemeierSupreme Court of Iowa · 1909
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