Security Trust Co. v. Edwards

The opinion of the court was delivered by

Swayze, J.

Leonard Morse, a resident of Hartford, Connecticut, in his lifetime pledged certain stocks of New Jersey corporations and other collateral with the Phoenix National Bank of Hartford as security for a note and died testate, no part of the note having been paid. The question presented by this case is whether the New Jersey stocks so pledged are subject to the transfer tax under the act of 1914. Pamph. Lp. 267. That act, so far as material to this ease, imposes the tax when the transfer is by will or intestate law of shares of stock of…