State v. State Board of Assessors

The opinion of the court was delivered by

Depue, J.

The Electric Storage Battery Company was ■organized as a corporation of this state by a certificate filed June 5th, 1888. The object of the incorporation was the manufacture of storage or secondary batteries for the storage of electricity for light and power purposes. The authorized capital of the company was originally $10,000,000, which was, in December, 1894, increased to $13,500,000. The •entire capital stock of $13,500,000 has been issued and is outstanding, and on that amount a franchise or license tax of $4,425 was assessed by the state…