A Concise Treatise On the Law of Corporations Having Capital Stock : Including Manufacturing Corporations And Business Corporations ... And the Rights And Liabilities of Stockholders And Officers ; New York Cases And Statutes

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Y. 64; People i, § 7.
ex rel. Mutual Union Tel. Co. v. ■• People ex re! . Trowbridge v Commrs., gg id. 254. Commrs., 4 Hun. 595, affd, 62 N. Y, ° Laws of 1855, chap. 37; British 630.
Com. Life Ins. Co. v. Commrs , I ' Laws of 1882, chap. 409, g§ 318, Keyes, 303; i Abb. App. Dec. 199; 319; Matter of Appln. of McMahon People ex rel. Parker Mills v. v. Palmer, lOi'&.N. l^b; Mercantile Commrs., 23 N. Y. 242; People ex Natl. Bank v. The Mayor, 121 U.
rel. Bay State Shoe and Leather Co. v. S. 138.
Mc
...Lean, 80 id. 254.
266 THE LAW OF CORPORATIONS.
sessed upon other moneyed capital in the hands of indi- vidual citizens of the state. There nriust also be deducted from, the value of such shares the same proportion of such value as the assessed value of the real estate of the bank, in which such shares are held, bears to the whole amount of its capital.' The assessors must ascertain the value of such shares, taking into consideration everything that gives them value, — the surplus, and the circumstances of the bank, its franchises, and the advantages and dis- advantages under which it exists.'' They must then deduct from the actual value of each share a sum bearing the same proportion to such value as the assessed value of the real estate of the bank bears to the actual value of all the capital stock.' When the owner of stock in any bank does not reside in the pjace where the bank is located the collector and county treasurer respectively have the same power as to collecting the tax to be assessed, that they have by law when the per- son assessed has removed from the town, ward, or county in which the assessment is made ;' and the managing ofificer or officers of such bank must retain so much of any dividend or dividends belonging to such stockholder as may be nec- essary to pay any taxes assessed until it is made to appear to such officers that they have been paid.' Article II.


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