Mechanics National Bank v. Baker

The opinion of the court was delivered by

Dixon, J.

This certiorari brings up an assessment against the prosecutor for the tax on one thousand four hundred and sixteen shares of its capital stock owned or held by persons non-resident within this state, which were valued at $83.86 per share and taxed at $2.15 per hundred, the tax amounting to $2,553.02.

*115The first objection urged against the assessment is that the federal law (Z7. S. Rev. Stat., § 5219), on which the right of •the states to tax national banks depends, permits such institutions to be taxed only on their real estate, and hence, it…