Lenawee County Savings Bank v. City of Adrian

The city of Adrian, in 1885, taxed all the shareholders in complainant’s savings bank upon their shares, and, in addition thereto, undertook to tax the complainant, as a corporation, for its bank fixtures, valued at $1,000, and for $30,000 as an alleged surplus of property *274beyond its nominal capital stock of $60,000. Complainant claimed it was not taxable except for real estate. This bill was filed to restrain defendants from enforcing tbe tax on this property, which the defendant Morey was proceeding to do by seizure of the bank furniture and fixtures.

Under the law of 1885, this controversy…