The New York herald. [volume] (New York [N.Y.]) 1840-1920, 1854-06-01
Supreme Court-General Term.
Before Hon. Judges Mitchell Up. J.), Roosevelt and

Before Hon. Judges Mitchell (P. ~, Roosevelt, and
NAY sl-7he Nsssas Ii5s Ims.ranoe Company of Hep
Fork, appellants the Board Of Srpcrviscrs-This
case came on for argument appeal from the de.
insurance company for . mandamus to compel the
Board OF Supervisors to reduce the the
points submitted to the by Messrs Joseph Blunt
and Miller for the appellants were that the personal
property Of the company assessed at ss0oOoo in
the 1853 That the Board OF Supervisors completed
the assessment roll the LIST August 1853 by which
tax was imposed the basis Of that assessment The
took effect the 10th July, 1865 BY which the in.
surance company were made subject TO the taxa
ton as incorporated under the generallaw with capt.
their duties the appellants objected to the assessment
and applied to them to reduce it to the of
TO the special term Of this court for mandamus which
was denied, and hence this appeal The appellants con-
June, 1853 enacted Nthat any mutual LIE insurance
company incorporated previously to the General In
surance law the 10th April 1840, shall subject to
100000" This last law went into effect before the
Board Of Supervisors made their estimate and completed
their rolls They therefore bound to that
estate the insurance pany subject to
taxation $100 000 and not $500 0O0 and not having
done the action of the board illegal and without
posed.
For the respondents, Mr. Dillon, the Corporation
Counsel submitted that the insurance company tax
able upon their assets, as their capital stock from
which they derive income profit They form the
fund upon which they transact their business which Is
liable to creditors and in Of insolvency passes TO
receiver, and which they themselves for the
payment of debts, losses, and expenses. The
persons assured are the corporators-the credits
the books their certificates OF stock
the stock is made up from accumulations, in
stead of cash capital Immediately subscribed and paid
That the of the First ward having jurisdiction
Of the plaintiffs their assessment judicial act
binding and conclusive until it is reversed that the
Board Of Supervisors had power to alter the
ment roll except in two cases namely. When ncor-
porated company showed to their satisfaction that 1t
was not in receipt Of any profits income. II Rev.
Stat sec. o. or, g. When the assessors had made an
erroneous assessment, which in their judgment was
good for reduction (Act Of 1874 p 1884, sec. q
do. 1850 1888, sec. 49, Upon these two points they
act judicaly and their judgment Is binding until 1t is
reversed. They must then insert the assessment as
made by the assessors, corrected by themselves
Il Rev. Stat p. AT sec 1917 That mandamus is not
the proper remedy to correct judicial errors. The
court, under mandamus require inferior tribunals
to and act but cannot dictate what their udg
ment shall be-certiorar performs that Office.
Mr. Dillon also contended that the act Of 1853 has not
altered the liability Of the appellant who complain
of the taxation but OF the assessment which, being
at the time it vas made the Board of Super
visors had power to correct To require the Super
visors TO make this correction is to make the act of
1853 retrospective, which it is not The object the
act 10 put mutual companies incorporated before
1s4e the equality with those incorporated under
the act of 1849 Tho latter companies taxable upon
their premiums, notes, and accumuations therefrom
capital and that judgment should therefore, be affirmed
with costs. Decision reserved.