Securities Inv. Co. v. Cobb

The bill was filed by the securities company to enjoin the collection by Davidson county of a privilege tax for dealing in secondhand automobiles, under item 9 of section 1, article 3, chapter 13, of the Pub. Acts of the Second Extraordinary Session of 1931, as amended by section 1(7) of chapter 194 of the Public Acts of 1935. The chancellor first granted a temporary injunction, but, after hearing the case upon the stipulation of facts, held that the securities company was liable for the tax and dismissed the bill, from which decree the company has appealed.

The primary business of the…