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People ex rel. Bankers' Trust Co. v. Glynn

134 A.D. 987 Court Third Department, English

Contents

Majority

p. 987
Third Department,
November, 1909.
The People of the State of New York ex rel. Bankers’ Trust Company, Relator, v. Martin H. Glynn, as Comptroller of the State of New York, Respondent.

Headnote

Certiorari to review the determination of the Comptroller in stating a franchise tax against the relator.

The Comptroller, in stating the franchise tax against a trust company, is not, bound to accept the hook value (representing actual cost) of its securities in determining its undivided profits, but may consider the actual market value of such securities. Determination unanimously confirmed, with fifty dollars costs and disbursements.