Louisiana v. New Orleans

The reasons given for our decree in the- case of New Orleans v. Citizens' Bank, just decided, are decisive of this cause, which comes on error to the Supreme Court of the State of Louisiana. The controversy presented to that court was whether property bought in by the Citizens’ Bank under foreclosure of its stock and stock loan mortgages became a part of its capital and as such was not liable to taxation. The Supreme Court of Louisiana held, conceding, arguendo, the nontaxability of the capital that the real estate so purchased was taxable. State ex rel. Citizens' Bank v. Board of Assessors,…