McLouth Steel Corp. v. Corporation & Securities Commission

(for reversal). Defendants appeal from the entry of judgments in 3 cases consolidated for trial in the court of claims and consolidated on appeal in this Court.

These actions were filed in the court of claims to recover from the State of Michigan the allegedly excessive portion of annual privilege fee for the years 1957, 1958, and 1959. Judgments in favor of plaintiff totaling $248,494.24, with interest as provided by law, were entered April 12, 1961:

At issue is whether an item, originally computed as “reserve” and representing 52% of the cumulative difference between book depreciation' and…