Commonwealth v. Independence Trust Co.
Supreme Court of Pennsylvania
Appeals, Nos. 13 and 15, May T., 1911, by plaintiff and defendant, from judgment of C. P. Dauphin Co., Commonwealth Docket, 1909, No. 172, for the Commonwealth on case tried by the court without a jury in suit of Commonwealth v. Independence Trust Company. Appeal from tax settlement.
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Appeals, Nos. 13 and 15, May T., 1911, by plaintiff and defendant, from judgment of C. P. Dauphin Co., Commonwealth Docket, 1909, No. 172, for the Commonwealth on case tried by the court without a jury in suit of Commonwealth v. Independence Trust Company. Appeal from tax settlement. From the record it appeared that the defendant was incorporated on July 29, 1889, under the general incorporation act of 1874, with an authorized capital of $1,000,000. On this amount it paid the bonus of one-fourth of one per centum, the rate then established by law. In 1903, it decreased its capital stock to…
1Opinion of the Court
Opinion by
Mr. Justice Elkin,
These are cross appeals from the same judgment and will be disposed of in one opinion. In one case the commonwealth contends that the bonus should have been computed at the rate of one-third of one per centum upon the actual increase of the capital stock, while the learned court below sustained the contention of appellee by holding that the bonus rate applicable under the facts presented is one-fourth of one per centum. A brief reference to the legislation requiring the payment of a bonus to the commonwealth for the privilege of incorporation under our laws, or of…
2Cases cited1 opinion
- Commonwealth v. Buffalo & Susquehanna RailroadSupreme Court of Pennsylvania · 1903
3Cited by9 opinions
- Butler Bros. v. MartinIllinois Supreme Court · 1938
- Commonwealth v. McGlinn Distilling Co.Supreme Court of Pennsylvania · 1919
- Talbott, Auditor Pub. Accts. v. Louisville Trust Co.Court of Appeals of Kentucky (pre-1976) · 1935
- Northern States Power Co. v. DonovanSupreme Court of Minnesota · 1960
- Oklahoma Gas & Electric Co. v. CartwrightSupreme Court of Oklahoma · 1951
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