People Ex Rel. Knickerbocker Fire Insurance v. Coleman
New York Court of Appeals
Appeal from judgment of the General Term of the Supreme Court in the first judicial department, entered upon an order made March 7, 1887, which affirmed the proceedings of defendants, the Commissioners of Taxes and Assessments of the city of ISTew Tork, in assessing the capital stock of plaintiff, which proceedings were brought up for review on certiorari. It appeared that the relator’s stock, at par, amounted to $210,000; the market-price of the shares was ninety cents.
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Appeal from judgment of the General Term of the Supreme Court in the first judicial department, entered upon an order made March 7, 1887, which affirmed the proceedings of defendants, the Commissioners of Taxes and Assessments of the city of ISTew Tork, in assessing the capital stock of plaintiff, which proceedings were brought up for review on certiorari. It appeared that the relator’s stock, at par, amounted to $210,000; the market-price of the shares was ninety cents. For the purpose of determining the actual value, the assessors valued the gross assets appearing on the company’s hooks at…
1Opinion of the CourtEarl, J.
The relator claims that its capital stock was illegally and improperly assessed, and it instituted this pro- ■ ceeding for the purpose of correcting the assessment. The law regulating the assessment of the capital stock of such a corporation is found in section 3 of chapter 456 of the Laws •of 1857, which is as follows:
“The capital stock of every company liable to taxation, except such part of it as shall have been excepted in the assessment-roll or as shall have been exempted by law, together with its surplus profits or reserved funds exceeding ten per cent of its capital, after deducting…
2Cases cited1 opinion
- Oswego Starch Factory v. . DollowayNew York Court of Appeals · 1860
3Cited by27 opinions
- United States Trust Co. v. Mayor of New YorkNew York Court of Appeals · 1895
- In re the Transfer Tax upon the Estate of DupignacNew York Surrogate's Court · 1924
- Rosiny v. SchmidtAppellate Division of the Supreme Court of the State of New York · 1992
- State v. WagnerSupreme Court of Minnesota · 1951
- People Ex Rel. Eckerson v. . ZundelNew York Court of Appeals · 1899
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