State v. Franklin County Savings Bank & Trust Co.
Supreme Court of Vermont
DUbT for taxes under V. S. 555. Plea, nil debet. Heard on an agreed statement of facts at the December Term, 1901, Caledonia County, Munson, J., presiding. Judgment, pro forma, for the plaintiff. The defendant excepted. The question for consideration, is the meaning of the word “deposits” as used in V. S. 582, 583, 584, 4066 to 4131. Deposits, as spoken of in all these sections, are savings deposits, or savings and trust deposits.
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DUbT for taxes under V. S. 555. Plea, nil debet. Heard on an agreed statement of facts at the December Term, 1901, Caledonia County, Munson, J., presiding. Judgment, pro forma, for the plaintiff. The defendant excepted. The question for consideration, is the meaning of the word “deposits” as used in V. S. 582, 583, 584, 4066 to 4131. Deposits, as spoken of in all these sections, are savings deposits, or savings and trust deposits. Both are spoken of and treated as being of the same character. Savings deposits, ex vi termini, mean deposits for saving or investment. In Montpelier Savings Bank &…
1Opinion of the CourtWatson, J.
The defendant is a corporation with capital stock, organized under a special charter, Laws of 1898, No.' 220.
The corporation has the power, among other things, “To receive moneys on deposit or in trust at such rate of interest oir on such terms as may be agreed upon, the rate of interest to be allowed for the deposit not to exceed the legal rate.”
The defendant keeps deposits for savings and investment, for which it issues books of deposit containing certain rules and regulations touching such deposits. In addition thereto it keeps with business men commercial deposits, which are strictly…
2Cases cited17 opinions
- Veazie Bank v. FennoSupreme Court of the United States · 1869
- Society for Savings v. CoiteSupreme Court of the United States · 1868
- Hadden v. CollectorSupreme Court of the United States · 1867
- National Bank v. JohnsonSupreme Court of the United States · 1881
- Janin v. London & San Francisco BankCalifornia Supreme Court · 1891
12 more not listed; retrieve them via the Exa API.
3Cited by16 opinions
- State v. Clement National BankSupreme Court of Vermont · 1911
- Van Dyke v. ColeSupreme Court of Vermont · 1908
- Corn v. FortTennessee Supreme Court · 1936
- State v. MahoneySupreme Court of Vermont · 1961
- FW Woolworth Co. v. Commissioner of Taxes of StateSupreme Court of Vermont · 1974
11 more not listed; retrieve them via the Exa API.