United States v. Bank of America
District Court, E.D. Pennsylvania
Buie for a New Trial. . Assumpsit, for a tax of one twenty-fourm of 1 per centum each month upon the capital stock of a bank, amounting, with fines and interest, to $3,168.12. The plaintiff put in evidence the official assessment list, made by the commissioner of internal revenue, under section 3408, Bev. St., subsec. 2, and closed.
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Buie for a New Trial. . Assumpsit, for a tax of one twenty-fourm of 1 per centum each month upon the capital stock of a bank, amounting, with fines and interest, to $3,168.12. The plaintiff put in evidence the official assessment list, made by the commissioner of internal revenue, under section 3408, Bev. St., subsec. 2, and closed. The defendant offered to prove (1) that the capital of the defendant was less than $45,000, and not in the amount charged in the assessment list, put in evidence; (2) that at the time of said assessment the defendant was not engaged in business as a bank, and had…
1Opinion of the Court
Eo die. The Court. When the government elects to resort to the aid of the court, it must abide by the legality of the tax.
The defendant may show that it was not, at the time for which the assessment was made, doing business as a bank, within the definition in section 3407, Rev. St., and that the assessment was therefore illegal.
Rule absolute.
Oral opinion by McKennan, J.; Butler, J., concurring.
A corporation whose business is confined to the investment of its capital in bonds secured by mortgage on real estate, and to the negotiation, side, and guaranty of them, is riot a bank or banker within…
2Cases cited6 opinions
- Oulton v. Savings InstitutionSupreme Court of the United States · 1873
- Cary, Collector v. The Savings UnionSupreme Court of the United States · 1875
- Selden v. Equitable Trust Co.Supreme Court of the United States · 1877
- San Francisco Savings & Loan Soc. v. CaryU.S. Circuit Court for the District of California · 1873
- Clark v. BaileyU.S. Circuit Court for the District of Southern New York · 1874
1 more not listed; retrieve them via the Exa API.
3Cited by4 opinions
- De Bary v. DunneU.S. Circuit Court for the District of Oregon · 1908
- Freeman v. United StatesCourt of Appeals for the Fourth Circuit · 1907
- United States v. O'ConnorCourt of Appeals for the Second Circuit · 1961
- United States v. O'ConnorCourt of Appeals for the Second Circuit · 1961