City & County of San Francisco v. Spring Valley Water Works
California Supreme Court
Appeal from a judgment of the Superior Court of the city and county of San Francisco, and from an order refusing a new trial. The action was brought to recover State and city and county taxes for the fiscal year 1877-78 upon an assessment of “capital” six million dollars; and for the fiscal year 1878-79 upon an assessment of “capital stock” six million dollars. The case was tried upon an agreed statement of facts, sufficiently set forth in the opinion.
1Opinion of the CourtMcKinstry, J.
By the revenue law of 1861 (Stats. 1861, p. 420), all property was taxable; and by its fifth section the term .“personal property” was declared to include “the capital stock of all corporations.” The sixteenth section of the Act of 1861 provided: “The owner or holder of any stock .... in any incorporated company or association, the entire capital of which is invested in property which is, assessed, or the capital of which is assessed, shall not be assessed individually for his stock in such company or association. The thirteenth section required that the assessor should list and assess all…
2Cases cited1 opinion
- San Francisco v. Spring Valley Water WorksCalifornia Supreme Court · 1880
3Cited by3 opinions
- In re TylerCalifornia Supreme Court · 1884
- In re TylerCalifornia Supreme Court · 1884
- In re TylerCalifornia Supreme Court · 1884