First National Bank v. Holmes

The First National Bank of Urbana, the appellee,. has a capital stock of $50,000, divided into five hundred shares of the par value of $100 each. In the year 1908 the township assessor valued the shares of stock at the aggregate sum of $84,000 and the assessed value amounted to $16,-800. The board of review raised the ^valuation to $145,000 and the assessed value to $29,000. The total taxes assessed on the shares to be paid by the bank for its stockholders was $2545.21. The bank paid $1473.36, which would have been the amount of taxes on the valuation of the assessor, and filed its bill in…