First National Bank v. City Council of Estherville
Supreme Court of the United States
ERROR TO THE SUPREME COURT. OE THE STATE OP IOWA. The facts are stated in the opinion. The statutes of Iowa, §§1305-1322 of the Code, provide a scheme of taxation of banks by which the franchises, good will, good business management, dividend earning’ power, and United States bonds held as required by law are all included by force of the very statutes themselves, while all of these elements are’ excluded by force of the same statutes, as to moneyed capital in the hands of…
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ERROR TO THE SUPREME COURT. OE THE STATE OP IOWA. The facts are stated in the opinion. The statutes of Iowa, §§1305-1322 of the Code, provide a scheme of taxation of banks by which the franchises, good will, good business management, dividend earning’ power, and United States bonds held as required by law are all included by force of the very statutes themselves, while all of these elements are’ excluded by force of the same statutes, as to moneyed capital in the hands of individual citizens- and invested in the very moneyed institutions which come in competition with national banks. This…
1Opinion of the CourtChief Justice Fuller
This was an appeal under § 1373 of the Code of Iowa from, the action of the members of the city council .of the city of Estherville, Iowa, sitting as a board of equalization and review, in fixing the assessed value of the shares of stock in the plaintiff bank for the year 1906.. The shares of stock in the plaintiff bank were assessed by the assessor on the .basis of' the book or assessed value obtained by adding the' capital, surplus and -undivided profits of the bank and dividing the sum total by the number of shares of capital sto.ck to ascertain the value of one share, a proper deduction…
2Cases cited5 opinions
- Tyler v. Judges of the Court of RegistrationSupreme Court of the United States · 1900
- Frost v. Board of ReviewSupreme Court of Iowa · 1901
- First National Bank of Estherville v. City CouncilSupreme Court of Iowa · 1907
- Farmers Loan & Trust Co. v. Town of FondaSupreme Court of Iowa · 1901
- Cedar Rapids & Marion City Railway Co. v. City of Cedar RapidsSupreme Court of Iowa · 1898
3Cited by12 opinions
- Franklin v. StateCourt of Appeals of Maryland · 1972
- Kellogg v. KingSupreme Court of the United States · 1917
- Holden v. Circleville Light & Power Co.Court of Appeals for the Sixth Circuit · 1914
- Devou v. Cincinnati, Covington & Erlanger Railway Co.Supreme Court of the United States · 1911
- United States Fidelity & Guaranty Co. v. PoetkerSupreme Court of the United States · 1914
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