President of Connersville v. Bank of Indiana

Per Guriam.

The Bank, a branch of the Bank of the State, sued the Town of Oonnersmlle on town orders. The town answered, setting up taxes alleged to be due from the bank to the town.

Trial by the Court; the set-off disallowed; and judgment for the bank.

The case is here upon the evidence. We think the judgment below was right. The taxes alleged to be due the town were assessed upon the money and notes on hand of the bank. .

By the charter, the capital stock of the bank is not taxable for municipal purposes. The capital stock consists originally of the money paid in by the subscribers to the stock…