Commonwealth v. Central National Bank

Opinion bt

Mr. Justice Sadler,

The Central National Bank has been engaged in business in the City of Philadelphia for many years. During the period involved in the present controversy its capital stock has consisted of 12,500 shares, having a par value of $100 each, with an actual worth of $553. It made returns from year to year to the auditor general for taxation purposes, and had paid at the rate of ten mills on the par value for the fiscal year ending June 30, 1925, as permitted by the Act of 1897 (July 15th, P. L. 292), making its settlement prior to March 1st, thus securing exemption from…