Hilson Co. v. State Board of Assessors

The opinion of tlie court was delivered by

Gummere, Chief Justice.

The writ in this case was sued out to review the assessment of a franchise tax for the year 1909 laid against the prosecutor by the state board of assessors. The only question in dispute between the parties is whether the state board properly considered the issue by the company of three thousand debenture certificates, of the par value of $300,000, as outstanding stock of the company in determining the amount of the tax to be assessed against it. The claim on the part of the prosecutor is that these debentures are merely…