State Bank v. City of Richmond
Supreme Court of Virginia
Error to judgment of circuit court of city of Richmond, rendered 19th December, 1874, in an action at law wherein the State Bank of Virginia was plaintiff, and the city of Richmond was defendant.
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Error to judgment of circuit court of city of Richmond, rendered 19th December, 1874, in an action at law wherein the State Bank of Virginia was plaintiff, and the city of Richmond was defendant. Under an ordinance passed 8th April, 1872, a tax of $1.25 on the $100 value of personal property, moneys and credits, including capital stock, &c., within said city, a tax of $3,126.25 was assessed upon the capital stock of the said hank, consisting of $159,804 of paid up stock and $90,296 of demand notes given hy the stockholders to the hank and .held hy it, for unpaid up stock, and bearing…
1Opinion of the CourtFauntleroy, J.
The material facts disclosed by the record are as follows, viz: On the 1st February, 1882, there had been subscribed to the capital stock of the bank 2,501 shares, of $100 each, making a subscribed capital stock of $250,100. There had been paid in by the shareholders on their subscriptions $159,804, and demand notes were given for the unpaid portion of the subscriptions, $90,296. The value of the share, if fully paid up, was $100.
By an ordinance of the city, passed April 8th, 1872, a taxation of $1.25 on the one hundred dollars value of various-kinds of property, was provided for. Under this…
2Cited by13 opinions
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- Phillips v. City of PortsmouthSupreme Court of Virginia · 1913
- Town of Danville v. PaceSupreme Court of Virginia · 1874
- Loyd's Executorial Trustees v. City of LynchburgSupreme Court of Virginia · 1912
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