Iowa State Savings Bank v. City Council
Supreme Court of Iowa
Appeal from Des Moines District Court. — Hon. James D. Smythe, Judge. This was a proceeding instituted before the city council of the city of Burlington, acting as a board of equalization, for the correction of an assessment. The board of equalization refused the relief asked, and the plaintiff appealed to the district court.
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Appeal from Des Moines District Court. — Hon. James D. Smythe, Judge. This was a proceeding instituted before the city council of the city of Burlington, acting as a board of equalization, for the correction of an assessment. The board of equalization refused the relief asked, and the plaintiff appealed to the district court. That court, after a hearing upon the merits, set aside and canceled the assessment, and from that action the defendants, the city of Burlington, the city council, and the members thereof, the county auditor, and the county treasurer, appeal.
1Opinion of the CourtRobinson, J.
The plaintiff is a corporation, organized as a savings bank, under the laws of this state, with a paid up capital of one hundred thousand dollars. In January, 1892, plaintiff had in its possession, set apart as and for the capital stock of the bank, the sum of one hundred thousand dollars, in legal tender notes of the United States. In addition, it had a surplus of one hundred and twelve thousand, three hundred and thirty-one dollars and thirty-nine cents, which represented the undistributed profits of the business. Of that amount, forty-eight thousand, three hundred and thirteen dollars and…
2Cases cited3 opinions
- Equitable Life Insurance v. Board of EqualizationSupreme Court of Iowa · 1888
- Smith v. CushingWisconsin Supreme Court · 1864
- Mechanics' Savings Bank v. GrangerSupreme Court of Rhode Island · 1890
3Cited by5 opinions
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- Primghar State Bank v. RerickSupreme Court of Iowa · 1895
- Carlson v. Ringgold County Mutual Telephone Co.Supreme Court of Iowa · 1961
- Ottumwa Savings Bank v. City of OttumwaSupreme Court of Iowa · 1895