New-York daily tribune. [volume] (New-York [N.Y.]) 1842-1866, 1864-11-04
COURT or APPEALs -sEPTEMBER THRM.-ls5I
IMPOGTkST TAX CASE.

The British Commercial Lie Insurance Company, sppelanis.
at TIL. Commissioner OF Taxes and Assessors lor the
City sud County OF New-York respondents
By ThE CoUET: INGRAHAM, 1.-The decision OF
the Court below a. 10 the United be
sirei under the reviewed decision 81 the supreme
ONT Of tie lEitrd states on tue Sar question The STOCK
% tine nlicd STATE, exempt from stae taxation aud here
the s,.essmeni il directly usds upon such securities Tho
respondents counsel comedies TN. ana does nos argue rms
tis objected on the part u the appellants TIA, the place Of
should be where the Controller resides upon the
ground that De hods the funds trustee. and h." not tbs
compauy should BE- assessed Tue property i. the property
the company held BY them but deposited with TIE Oon-
troe a. security II would be aIaole II the company
d no. carry on business IN th Stat By the provisions u
the r. 5. 18th I'd p Y5 /, al lands and Al PERSONAL
,st,e hu t state whether oy led by iudisiduss by
corporation made liable and 10y section four
debs due bonds included under the term personal
by r. 18th ed eos sec 8 every person is to be
the ward where ne resides for the p"rsons
,,cry incorpori,ei company aole iaxaon Is capital
shall be assessed in the town OF ward whee che prineips
where the operations o. the company ha De carried
is in the City Of NewlolA which il admitted by the de-
murrer.
oE doing business In ih stat. srd not residents IA TIE saie
a BE- assessed and taxed on invested any manner
N sad br unes tie same as Z hey were eiens o. TIE Sas
Taking these provisions together huA there Al De 40 aia
cuy Ia hodi that the place Of the place whsFs
the operation. OF tho corporation carried on.
Generally under peTsons tsed IA Jaws providing iot
taxation corporations pve been included une-' some speoA
provision Of law provided IN ts same '' oi 'e al''V OF
People ~ Utica Co. Is John 1851 Aud corpora ds
The Ontario Bank agt. Bunnri 10 Nrnd. 1861.
These cases that corporations 20 be ircuCcd undes
the seuer4 persons regard 70 tier liability 10
ton the place who're they cary their business SUI that
there ground Tor the lection that the Corpora
assessed in the City Of New-lor~.
The other question watcher the plaintiffs liable 70 re
upon the bonds Of the city q Buffalo d-poed With The
Controller There be doubt burtat those bonds
Included under tie personal used IN the stau,e
aud the only QUESTION which ars 81 ehel s property
invested H. sry manner IN bushes, which they carry
pom this poi. - - little Doubt The statute
prohibits orei -s from carrying business OF LIE
Insurance until such company have deposited with The Con-
tIOcr securities fOte aountoi $1,000 Tor the beHeht OF the
policy hold Of TIE company a~ OF 1885. cA s3 sec ~
This dcpo.t with the Controller necessarily rade IN
necton the business OF tie Company without IL hey
do business and IL u deposited 10 security 10
these who hold polio Of tho Company Ia therefore,
used he tu.ues. the peny. aud fact ems IL cap
it.i iu thi. which l. liable to W CREDITOR and cones
within drhniion Of capital defined M Th Mutual ms,
Co art OF tae 10 Comstock -i3 These -for
de- denosed with the Controller form the same nj OF
capita A. that corpora alton incorporated for
inu purpose mich the capita is the security ior tho':
who iea with it Neither actually invested IN business ind
used or purpose bat both form the os on "heh tbs
business transacted and the security iIon "nch pAlSns
- claims is 10 be enforced - 49,
lar made on the onds OK the CITY
Of Buffalo the properly made AID tho oder aP-
psalrd from should ns affirmed
Charles A hsppalO FOL appehaAs Aoni H. LAsre'cs Jt'
Tor respondents.