People Ex Rel. Second Avenue Railroad v. Barker
New York Court of Appeals
Appeal from order of the General Term of the Supreme-Court in the first judicial department, made June 9, 1893, which affirmed an order of Special Term setting aside an assessment for taxation upon the relator’s capital stock. The facts, so far as material, are set forth in the opinion.
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Appeal from order of the General Term of the Supreme-Court in the first judicial department, made June 9, 1893, which affirmed an order of Special Term setting aside an assessment for taxation upon the relator’s capital stock. The facts, so far as material, are set forth in the opinion. "The commissioners -vwere justified in their determination that the aggregate value of the capital stock after deducting the assessed value of the real estate of the corporation, equaled the assessment made. ( U. T. Co. Case, 126 N. Y. 433 ; People ex rel. v. Coleman, 107 id. 543; 126 id. 433; People v. R., W.…
1Opinion of the CourtBartlett, J.
The relators were assessed for the purpose of taxation upon capital stock for the year 1892, in the sum of $968,973. In July, 1892, they sued out a writ of certiorari to review the proceedings of the tax commissioners.
The special term of the Supreme Court reversed the adjudication of the tax commissioners and vacated the assessment. The general term, in affirming this order, considered at length the question whether, as a matter of law, the debts of the relator were necessarily deductible from the value of the corporate assets. We are satisfied with its conclusions on that point and will not…
2Cases cited1 opinion
- People Ex Rel. Union Trust Co. v. ColemanNew York Court of Appeals · 1891
3Cited by4 opinions
- People Ex Rel. Cornell Steamboat Co. v. DederickNew York Court of Appeals · 1900
- People ex rel. Equitable Gaslight Co. v. BarkerNew York Supreme Court · 1894
- People ex rel. National Surety Co. v. FeitnerNew York Supreme Court · 1900
- People ex rel. Rochester Railway Co. v. PondAppellate Division of the Supreme Court of the State of New York · 1899