State Ex Rel. v. Tenn. Finance Co.

This was a suit to recover privilege taxes for the years 1918 to 1921, inclusive. While defendants had paid for and procured licenses as security dealers for these years, the chancellor found that they were engaged in the business of loan agents, at the excess rates which call for the payment of certain privilege taxes prescribed by the revenue acts.

Appealing, numerous errors are assigned. On the merits it is insisted that the business conducted was that of dealing in securities only, and not loaning money, in that it consisted only of buying or acquiring’, by assignments claims of various…