City of Gadsden v. American Nat. Bank

On Rehearing.

We do not think that the majority opinion is contrary to Cummings v. Merchants’ National Bank, 101 U. S. 153, 157, 25 L. Ed. 903. It is there emphasized that “the bank as a corporation is not liable for the tax, and occupies the position of stakeholder, on whom the cost and trouble of the litigation should not fall. If it pays, it may be subjected to a separate suit by each shareholder. If it refuses, it must either withhold dividends, and subject itself to litigation by doing so, or refuse to obey the laws, and subject itself to suit by the State. It holds a trust relation…