First National Bank of Moscow v. Board of Commissioners

Appellant bank made its tax statement for 1921 to the assessor of Latah county, showing paid-up capital stock of $50,000, surplus and undivided profits $27,262.45, expenses and taxes paid $756.27, or a total of $76,506.18 as the full cash value of the capital stock. It also showed a total of $96,306.49 invested in real estate, furniture and fixtures which had been assessed, and in Federal Reserve Bank stock. The result was that the bank reported that its capital stock had no valuation for taxing purposes. The assessor did not assess the stock. Respondent board of commissioners sitting as a…