United States Radiator Corp. v. State
Appellate Division of the Supreme Court of the State of New York
Appeal by the claimant, the United States Badiator Corporation, from a judgment of the Court of Claims of the State of New York,' dated the 9th day of January, 1911, and entered in the office of the clerk of said court dismissing the appellant’s claim.
1Dissent
Houghton, J. (dissenting):
I do not think the transaction had with the trust company amounted to a sale or an agreement to sell or transfer stock within the meaning of section 270 of the Tax Law.
It is conceded that if the 52,100 shares had been issued direct by the United States Radiator Company to the four corporations which it was organized to absorb, or their respective stockholders, in payment of the agreed purchase price no transfer tax would have been payable. Such a transaction would constitute an original issuance of stock which, under the holding in People v. Duffy-MeInnerney Co. (122…
2Cases cited2 opinions
- People v. Duffy-McInnerny Co.Appellate Division of the Supreme Court of the State of New York · 1907
- People v. . Duffy-Mcinnerney CompanyNew York Court of Appeals · 1908