Town of McGregor v. McGregor Branch of the State Bank

It was agreed by the parties, in the District Court, that the plaintiff was duly incorporated and possessed *80tbe power to levy a tax for corporation purposes, and that , the corporation tax for the year 1856, was properly and correctly levied. It was further agreed that the defendant was a corporation doing business as a Branch of the State Bank of Iowa, within the limits of the town of McGreg- or, and organized under the general banking law of this State, and the cash capital of the defendant, at the time of assessment of said tax for the year 1860, as paid in by the stock holders, was…