In Re Truscon Steel Co.

The Truscon Steel Company is a, Michigan corporation maintaining an office at Detroit, where a small amount of business is conducted. Its main plant and executive offices are maintained at Youngstown, Ohio. The controversy here involves the use of three items of intangible personal property in the computation of the specific tax required by Act No. 85, Pub. Acts 1921, as amended. These items are as follows: (1) Due from banks located outside the State for money on deposit, $404,353.33; (2) notes and accounts receivable, $4,903,298.75; and (3) deferred charges amounting to $77,113.06. These…