Kennedy v. Citizens' National Bank
Supreme Court of Iowa
Appeal from Marion .District Court.— Hon. James D. Gamble, Judge. Defendant’s capital stock in 1892 was $50,000, divided into 500 shares. Plaintiff owned 10 shares, which he retained until February, 1899, and then sold them to one Smith, retaining the claim involved in this action. The bank paid the taxes levied on the shares of stock from 1892 to 1897, inclusive, and omitted, until after this action was begun, to charge the same to the individual shareholders.
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Appeal from Marion .District Court.— Hon. James D. Gamble, Judge. Defendant’s capital stock in 1892 was $50,000, divided into 500 shares. Plaintiff owned 10 shares, which he retained until February, 1899, and then sold them to one Smith, retaining the claim involved in this action. The bank paid the taxes levied on the shares of stock from 1892 to 1897, inclusive, and omitted, until after this action was begun, to charge the same to the individual shareholders. The following table indicates the number of shares assessed, the number exempt, the several amounts paid, and the value of the…
1Opinion of the CourtLadd, J.
*564i. banks and payment'of banlfj brestockiioide™ *563I. The defendant bank, as was its duty, •paid the taxes levied against the shares of stock from 1892 to 1898, inclusive, hut neglected to retain the respective *564amounts from the dividends. subsequently declared, or to enforce the lien thereof against the stock, as periMtted by statute. See section 819, Code 1873 (section 1325, Code 1897). No resolution by the board of directors was necessary, and none was adopted. Nothing in the record indicates whether any profits of individual stockholders were on hand, as alleged in the petition, and there is…
2Cases cited5 opinions
- Lockhart v. Van AlstyneMichigan Supreme Court · 1875
- Kennedy v. Citizens' National BankSupreme Court of Iowa · 1903
- Redhead v. Iowa National BankSupreme Court of Iowa · 1905
- Dillon v. LeeSupreme Court of Iowa · 1899
- Goodwin v. HardySupreme Judicial Court of Maine · 1869
3Cited by8 opinions
- Des Moines Bank & Trust Co. v. George M. Bechtel & Co.Supreme Court of Iowa · 1952
- First National Bank v. Fireproof Storage Building Co.Supreme Court of Iowa · 1925
- Rossing v. State BankSupreme Court of Iowa · 1917
- Troutman v. Council Bluffs Street Fair & Carnival Co.Supreme Court of Iowa · 1909
- Brown v. ConwaySupreme Court of Iowa · 1926
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