Nashville Tobacco Works v. City of Nashville

Mr. Juctice Cook

delivered the opinion of the Court.

This case involves the validity of an assessment by the city of Nashville of ad valorem taxes against the Nashville Tobacco Works, a domestic corporation engaged in the manufacture of tobacco within the city limits. Complainant submitted its schedule for assessment as of January 10, 1920, which showed paid-up capital $120,000 surplus and undivided profits $253,041.58, making a book value of $373,041.58.

By section 22, chapter 602, Acts of 1907, each manufacturing corporation is required to pay ad valorem taxes upon the actual cash valúe of its…