National Bank v. Commonwealth
Supreme Court of the United States
Error to the Court of Appeals of Kentucky; the case being this: The act of Congress establishing the National banks,* enacts: “ Section 40. That the president and cashier of every such association shall cause to be kept a correct list of the names and residences of all the shareholders in the association, and the number of shares held by each, and such list shall be open to the inspection of the officers authorized to collect taxes under State authority.
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Error to the Court of Appeals of Kentucky; the case being this: The act of Congress establishing the National banks,* enacts: “ Section 40. That the president and cashier of every such association shall cause to be kept a correct list of the names and residences of all the shareholders in the association, and the number of shares held by each, and such list shall be open to the inspection of the officers authorized to collect taxes under State authority. "Section 41. Provided, that nothing in this act shall be construed to prevent all the shares in any of the said associations held by any…
1Opinion of the CourtJustice Millek
In the several recent decisions concerning the taxation of the shares of the National banks, as regulated by sections forty and forty-one of the act of Congress of June 3d, 1864, it has been established as the law governing this court that the property or interest of a stockholder in an incorporated bank, commonly called a share, the shares in their aggregate totality being called sometimes the capital stock of the bank, is a different thing from the moneyed capital of the bank held and owned by the corporation. This capital may consist of cash, or of bills and notes discounted, or of real…
2Cited by308 opinions
- Gully v. First Nat. Bank in MeridianSupreme Court of the United States · 1936
- Watters v. Wachovia Bank, N. A.Supreme Court of the United States · 2007
- Whitney v. CaliforniaSupreme Court of the United States · 1927
- Brushaber v. Union Pacific RailroadSupreme Court of the United States · 1916
- Knowlton v. MooreSupreme Court of the United States · 1900
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