Mayor, C., of Troy v. . the Mutual Bank
New York Court of Appeals
Appeal from the Supreme Court. Case submitted without action, under section 372 of the Code. The facts agreed upon by the parties are these: The defendant became incorporated under the general banking law, December 25, 1851, and is located at the. city of Troy.
Read the full summary
Appeal from the Supreme Court. Case submitted without action, under section 372 of the Code. The facts agreed upon by the parties are these: The defendant became incorporated under the general banking law, December 25, 1851, and is located at the. city of Troy. Its capital stock, $100,000, was not all paid in until April 20, 1853, and it began to issue cireulating notes May 23, 1853. On the 3d October, 1853, the plaintiff levied a legal city tax, whereby the defendant was taxed for that fiscal year $991 on its capital stock, and the bank thereby became indebted to the plaintiff in that…
1Opinion of the Court
Johnson, Ch. J.
In the case of the American Transportation Company v. The Oity of Buffalo, 1 which was determined in this eoirrt in 1857, the effect of chapter 654 of the Laws of 1853 came in question. It is by virtue of that act that the right of corporations to commute for their taxes exists. It was held, in the case alluded to, that the two systems of taxation, the one for municipal purposes and the other for county and State purposes, are distinct and independent: that the latter species of taxation, forms the subject of the general provisions of the Revised Statutes relating to taxes, and…
2Cited by9 opinions
- Hassan v. . City of RochesterNew York Court of Appeals · 1876
- State ex rel. Smith v. ParkerWashington Supreme Court · 1895
- Johnson Home v. Village of Seneca FallsAppellate Division of the Supreme Court of the State of New York · 1899
- People Ex Rel. Young v. . WillisNew York Court of Appeals · 1892
- County of Jefferson v. City of WatertownAppellate Division of the Supreme Court of the State of New York · 1904
4 more not listed; retrieve them via the Exa API.