Case ID: ad_134/html/0987-05.html
Source: Caselaw Access Project
Author: {"author": "Per Curiam:", "license": "Public Domain", "url": "https://static.case.law/"}
Date Created: 2024-08-24T03:29:51.129683

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

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.