Bankers Indemnity Insurance v. City of Newark

Quinn, President.

This case was tried and argued as a companion case to American Insurance Co. v. City of Newark, decided by this board simultaneously herewith, 18 N. J. Mis. R. 516. A number of the legal questions common to both cases have been discussed in the opinion in that case, and reference will be made thereto in connection with those issues. The underlying issue involved is the proper amount of the 1938 assessment against the capital stock and accumulated surplus of petitioner, as a stock insurance company, under Pamph. L. 1918, ch. 236, § 307. The original assessment, in the sum of…