Urquhart v. Marion Hotel Co.
Supreme Court of Arkansas
Appeal from Pulaski Circuit Court, Third Division; G. W. Hendrichs, Judge; 1. The tax clause in the bonds obligated the appellee to pay the interest coupons without deduction. Federal Income Tax Law, Fed. Stat. Annotated, Supplement, 1914, p. 185, ch. 16; 38 Stat. at Large, p. 114, sub-sec. E; Foster’s Income Tax (2 ed.), 1915, p. 27, 415, 417; lb. 1458. The hotel company should pay the tax.. 1. Appellee was not liable for the income tax.
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Appeal from Pulaski Circuit Court, Third Division; G. W. Hendrichs, Judge; 1. The tax clause in the bonds obligated the appellee to pay the interest coupons without deduction. Federal Income Tax Law, Fed. Stat. Annotated, Supplement, 1914, p. 185, ch. 16; 38 Stat. at Large, p. 114, sub-sec. E; Foster’s Income Tax (2 ed.), 1915, p. 27, 415, 417; lb. 1458. The hotel company should pay the tax.. 1. Appellee was not liable for the income tax. Acts Congress, Oct. 3,1913; U. S. Comp. Stat., vol. 3, § § 6319, 6323, § 2; 3 Id., § 6325; 17 Wall. 322, 326-7; Black, Income Tax, § 360; 6 Wall. 15; 17 Id.…
1Opinion of the CourtSmith, J.
Appellant is the owner of certain bonds issued by the Marion Hotel Company on June 1, 1906, which contain the following clause:
“The Marion Hotel Company, for value received, hereby promises to pay to the bearer hereof, at the office of the Bank of Commerce, Little Rock, Ark., without deduction from either such principal or interest, for any tax or taxes, which the Marion Hotel Company may be required to pay or retain therefrom, under any present or future law, the Marion Hotel Company agreeing to pay such tax or taxes. ’ ’
The interest on these bonds was made payable at the Bank of Commerce,…
2Cases cited2 opinions
- Haight v. Railroad Co.Supreme Court of the United States · 1868
- Baltimore v. Baltimore RailroadSupreme Court of the United States · 1871
3Cited by4 opinions
- State ex rel. City of Sedalia v. Public Service CommissionSupreme Court of Missouri · 1918
- Lake Superior Loader Co. v. Huttig Lead & Zinc Co.Supreme Court of Missouri · 1924
- Grasso v. OehmannDistrict of Columbia Court of Appeals · 1947
- Roanoke Waterworks Co. v. AndersonDistrict Court, S.D. New York · 1927