Horn Silver Mining Co. v. New York State
Supreme Court of the United States
•ERROR TO THE SUPREME COURT OF THE STATE OF HEW YORK- The coúrt stated the case as follows: . The defendant below, the plaintiff in error here, the Horn. Silver 'Mining Company, is a corporation created under the laws of the Territory of Utah.
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•ERROR TO THE SUPREME COURT OF THE STATE OF HEW YORK- The coúrt stated the case as follows: . The defendant below, the plaintiff in error here, the Horn. Silver 'Mining Company, is a corporation created under the laws of the Territory of Utah. The present action is brought by the People of the State of Hew York, upon the allegation that it was doing business within the State in 1881 and 1882, to recover certain taxes alleged to be chargeable on its “ corporate-franchise or business” for those years and the penalty prescribed for their non-payment in each year. By the act of the legislature of…
1Opinion of the Court
]Me. Justice Field
delivered the opinion of the court.
A corporation being the mere creature of the legislature, its rights, privileges and powers are dependent solely upon the terms of its charter. Its creation (except where the corporation is sole) is the investing of two or more persons with the capacity to act as a single individual, with a common name, and the privilege of succession in its members without dissolution, and with a limited individual liability. The right and privilege, or the franchise, as it may be termed, of being .a corporation, is of great value to its members, and is…
2Cases cited5 opinions
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- Bank of Augusta v. EarleSupreme Court of the United States · 1839
- Pensacola Telegraph Co. v. Western Union Telegraph Co.Supreme Court of the United States · 1878
- Minot v. Philadelphia, Wilmington & Baltimore RailroadSupreme Court of the United States · 1874
- Pembina Consolidated Silver Mining & Milling Co. v. PennsylvaniaSupreme Court of the United States · 1888
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