Farrington v. Tennessee
Supreme Court of the United States
Error to tbe Supreme Court of the State of Tennessee. The Union and Planters’ Bank of Memphis is a banking corporation, doing business at Memphis, Shelby County, Tennessee, organized under a charter granted by the General Assembly of that State March 20, 1858, and amended Feb. 12, 1869, the tenth section'of which provides that “ said' company shall pay to the State an annual tax of one-half of one per cent on each share of the capital stock subscribed, which shall be in lieu…
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Error to tbe Supreme Court of the State of Tennessee. The Union and Planters’ Bank of Memphis is a banking corporation, doing business at Memphis, Shelby County, Tennessee, organized under a charter granted by the General Assembly of that State March 20, 1858, and amended Feb. 12, 1869, the tenth section'of which provides that “ said' company shall pay to the State an annual tax of one-half of one per cent on each share of the capital stock subscribed, which shall be in lieu of all other taxes.” Sect. 1 of an act.of the General Assembly of 1869-70, c. '81, provides: “ All shares of stock in…
1Opinion of the CourtJustice Swayne
This case lies within narrow limits. The question to be decided arises under the Constitution of the United States.' ■ The ground of the discussion has been well-trodden by our predecessors., Little is left for us but to apply, the work of other minds. The facts are agreed by the partie|, and may be briefly stated.
The'Union and Planters’ Bapk of Memphis was duly organized under apharfcer granted by the Legislature of Tennessee,' by two acts, bearing date respectively oh the 20th of March, 1858, and the 12th of February, 1869. Since its organization, it has been doing a regular banking…
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