City of New Orleans v. Canal & Banking Co.
Supreme Court of Louisiana
^PPEAL from the Fifth District Court, parish of Orleans. Boyers, Sam. P. Blanc, for plaintiff, contended : First — One of the defenses is, that during the time of making the assessments defendants had on hand, not taking into account the value of its real estate, in United States currency, a value largely exceeding the remainder of their capital and accumulated capital, and, therefore, after deducting the value of the real estate, and such non-taxable property, there could…
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^PPEAL from the Fifth District Court, parish of Orleans. Boyers, Sam. P. Blanc, for plaintiff, contended : First — One of the defenses is, that during the time of making the assessments defendants had on hand, not taking into account the value of its real estate, in United States currency, a value largely exceeding the remainder of their capital and accumulated capital, and, therefore, after deducting the value of the real estate, and such non-taxable property, there could be nothing left for taxation as shares. It cannot prevail. 29 A. 851. Second — No exemption from taxation can be claimed…
1Opinion of the Court
The opinion of the court was delivered by
Spencer, J.
Paragraph 8 of section 1 of Act No. 8 of the extra session of 1878, approved March 26th, provides for the assessment of “ the shares of stockholders in all banks and banking associations in this State ; said shares shall be assessed at their value, after deducting from the capital stock of said banks and banking associations "all property otherwise assessed or exempt from taxation ; and said shares shall be included at such ascertained value, in the valuation of the personal property of such stockholders, in the assessment of taxes at the…
2Cited by5 opinions
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