People Ex Rel. Tradesmen's National Bank v. Commissioners of Taxes & Assessments
New York Court of Appeals
Appeal from order of the General Term of the Supreme Court, in the first judicial department, modifying the assessment of the relator’s capital stock, by reducing the assessment per share from forty-eight dollars, as assessed by the commissioners of taxes and assessments of the city of New York, to the sum of forty-four dollars and eighty cents. The proceedings of the commissioners were brought up for review by certiorari.
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Appeal from order of the General Term of the Supreme Court, in the first judicial department, modifying the assessment of the relator’s capital stock, by reducing the assessment per share from forty-eight dollars, as assessed by the commissioners of taxes and assessments of the city of New York, to the sum of forty-four dollars and eighty cents. The proceedings of the commissioners were brought up for review by certiorari. (Reported below, 9 Hun, 650.) The facts are sufficiently stated in the opinion. The words “ whole amount of the capital stock,” in the act of 1866 (chap. 761), must be…
1Opinion of the CourtMiller, J.
The relator claims relief upon the ground that the commissioners of taxes and assessments did not obey the mandate of the statute in maldng the proper deduction from the value of each share of the capital stock of the bank as the law required. The capital of the bank was $1,000,000 and was represented by 25,000 shares at forty dollars a share. The commissioners valued the shares at fifty-six dollars each, and assessed the real estate at $200,000, making the total value of the capital stock, including the real estate, $1,400,000. They deducted from the value of each share eight dollars, being…
2Cases cited1 opinion
- People Ex Rel. Gallatin National Bank v. Commissioners of Taxes & AssessmentsNew York Court of Appeals · 1876
3Cited by6 opinions
- Citizens' National Bank v. Baker County Board of EqualizationOregon Supreme Court · 1924
- Mayor of Newark v. TunisSupreme Court of New Jersey · 1911
- First National Bank of Ossining v. Board of Assessors of OssiningNew York Court of Appeals · 1905
- Exchange National Bank v. MillerUnited States Circuit Court · 1884
- Mercantile National Bank v. Mayor of New YorkNew York Supreme Court · 1899
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