Spillman v. Kentucky Rock Asphalt Co.

Opinion op the Court by

Turner, Commissioner

Affirming.

Section 4019a, subsection 9, Ky. Stats., provides, in part: “A tax of twenty (20) cents is hereby imposed upon each one hundred dollars ($100.00) or fraction there>of of indebtedness which is, or may be, in any contingency secured by any mortgage of property in this state, which mortgage shall be lodged for record after this act goes into effect where the indebtedness does not mature within five years. ’ ’

By mortgage or deed of trust dated the first of August, 1919, the Kentucky Rock Asphalt Company conveyed in trust to the Central Savings…