Hempstead County v. Hempstead County Bank

On the first Monday in June, 1901, the Hemp-stead County Bank had capital stock paid in of $35,000 and undivided profits of $1,243.77. N had invested $9,777.22 of its capital stock in real estate of that value. The case is one to determine the amount of taxes the bank should pay. The lower court deducted the value of the real estate, which was paid upon separately, from the capital stock and undivided profits, and taxed the bank upon the residue, thus adding $35,000 and $1,243.77, making $36,243.77, total valuation, and took from it $9,777.22, the value of the real estate, leaving $26,466.55…