Board of Council v. Fidelity Trust & S. V. Co.
Court of Appeals of Kentucky
Case 71 — Action to Enjoin the Collection of Taxes APPEAL FROM FRANKLIN CIRCUIT COURT. JUDGMENT'FOR PLAINTIFF AND DEFENDANT APPEALS. Taxation — Mortgages Held by Non-Residents — Persons Entitled to Sue. POINTS AND AUTHORITIES CITED. The 'State has power to tax mortgages and other cboses in action of non-residents, provided the property mortgaged lies within the State. Savings and Loan.
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Case 71 — Action to Enjoin the Collection of Taxes APPEAL FROM FRANKLIN CIRCUIT COURT. JUDGMENT'FOR PLAINTIFF AND DEFENDANT APPEALS. Taxation — Mortgages Held by Non-Residents — Persons Entitled to Sue. POINTS AND AUTHORITIES CITED. The 'State has power to tax mortgages and other cboses in action of non-residents, provided the property mortgaged lies within the State. Savings and Loan. Soc. v. Multnomah county, 169 U. S.i 42i; Bristol v. Washington county, 177 U. S., 133; Bank of U. S. v. Mississippi, 12 §. & M., 456; Maltby v. Railroad Co., 52 Pa., 147; City of Detroit v. Lewis, 66 N. W.,…
1Opinion of the Court
Opinion op the court by
JUDGE BURNAM
Affirming.
In July, 1885, the Frankfort Water Company, a domestic corporation, pursuant to a provision of its charter, issued and sold upon the market 125 negotiable bonds, for $1,000 each, which were made payable to Grant Green, of Frankfort, Ky., -or bearer. They were to run twenty-five years, and bear interest at five per cent, per annum, payable semiannually; and the principal of these bonds and. the accruing interest thereon were secured by a first mortgage upon all the property of the water company, which was located-in Franklin county, partly within…
2Cases cited14 opinions
- New Orleans v. StempelSupreme Court of the United States · 1899
- Bristol v. Washington CountySupreme Court of the United States · 1900
- Savings & Loan Society v. Multnomah CountySupreme Court of the United States · 1898
- Baldwin v. ShineCourt of Appeals of Kentucky · 1886
- Douglass v. ClineCourt of Appeals of Kentucky · 1876
9 more not listed; retrieve them via the Exa API.
3Cited by10 opinions
- Commonwealth v. R. G. Dun & Co.Court of Appeals of Kentucky · 1907
- Semple v. CommonwealthCourt of Appeals of Kentucky · 1918
- Higgins v. CommonwealthCourt of Appeals of Kentucky · 1907
- Whittaker v. Farmers' Nat. Bank SomersetCourt of Appeals of Kentucky (pre-1976) · 1931
- Aetna Life Ins. v. CoulterCourt of Appeals of Kentucky · 1903
5 more not listed; retrieve them via the Exa API.