People ex rel. Metropolitan Securities Co. v. Kelsey
Appellate Division of the Supreme Court of the State of New York
Certiorari issued out of the Supreme Court and attested on the 5th day of July, 1904, directed to -Otto Kelsey, as Comptroller of the State of New York, commanding him to certify and return to the office of the clerk of the county of Albany all and singular his proceedings had in relation to the assessment of a franchise tax against the relator for the year ending October 31, 1903.
1Opinion of the Court
Smith, J.:
During the year ending October 31, 1903, the relator paid no dividend upon its stock. Under section 182 of the Tax Law (Laws of 1896, chap. 908, as amd. by Laws of 1901, chap. 558) it was liable to an assessment of one and one-half mills upon each dollar of the appraised capital employed within the State. By section 190 the treasurer or secretary of the company is required to “ estimate and appraise the capital stock of such company upon which no dividend has been declared * * * at its actual value in cash, not less, however, than the average price which said stock sold for during…
2Cases cited2 opinions
- Peo. Ex Rel. Commercial Cable Co. v. . MorganNew York Court of Appeals · 1904
- People ex rel. Colonial Trust Co. v. MorganAppellate Division of the Supreme Court of the State of New York · 1900
3Cited by2 opinions
- People ex rel. Coney Island Jockey Club v. SohmerAppellate Division of the Supreme Court of the State of New York · 1913
- People ex rel. City Investing Co. v. SaxeAppellate Division of the Supreme Court of the State of New York · 1917