, 1877-05-10
Judge Moore Refuses the Injunction in
the Bank Tax Cases.
Corporate Banks Must Dc Regarded aa
tho Agents Of the Stockholders.
Suit to Eoreolose Mortgage on the Gale
donian Park Property.
Judgments, Confessions. Bank"
ruptcies, New Suits,
Etc,

kionst Bank, tho Fifth National Hank. the Union
National BAnk, the MeEthhnta' National hank. tho
Commercial National Uank, and tho Northwestern
National bank. against Mark Klmbali, Town Col
aeetof, and l.. C. 1iuck, conaty Treasurer, to re-
strap tho collection of ccftatn proportion Of tho
4ax on tho capital stock of those banks, The orig
ipAI valuation was raised BY tho County Board
after notice 10 tho banks but not Ia the individual
stockholders, and It was claimed that the notice 10
the banks wns not sufficient to authorize the In.
creased assessment, ~ tho banks were not in such
Sonsa trustees Of the atockhodetA. int that notce
should hare been given 10 tho stockholders indi-
yldunlly.
Tho Judge said tho Constltuton OF the State
provided for raising revenues by OF according 10
valuation Of the property to be taxed. That rule
was extended to persons or corporations owning Or
using f.snsh,es I'D + was A., s,o demanded shat
e eeeal saae1 seeens e e!ens
s 1 ~ wsnnx n shs pncp.
uniformity. stockholdess ID every Stats oi Ma:
t!o9sl st xers t. Se assessed 90 the ,sins Of
hoiS.S eiS S se.ded there Or not ill., lst of sso
ef. pos to bs a1ed geter ras shan
psopsrty. f vsra to g. assessed It ther iii eash
h iien On ths respective shares. Each Iank wss
70 rcialn any dlyidcnds declared until after tho sax
@ III Gs .w sns sg g .ss ssf ot
tSs s sha1s, on WHICH Il was iasisd sond b sc}a.
stituilon. Valuation and uniformity were bath
:ss M :: GyafS !, H. y sw ~ oSst.s Il IT,
complied Sith; ~ A. ses 4s.s..or vas !.
dag .aa heses the s county ' nea asnS
Board Of Koualfknlon, could rosfow and correct
what had not been done correctly, on tho app!lca
who might complain that the property ot another
waa assosaed too low. hut no complaint could b.
e ea as asa :n ,sn
portnnity to b heard II he was : resident q tie
county. Bnt there ysas 9ne other provision Of tue
any Of she ofasers eoanectei with tbe assessment,
@ q ses e m .. PCT sa stsns s tho
thereof" That provision was found in Tho middle
connection. The ptoviaons Of tho law then would
1 1eaa suesstan.iaIly that any enc might eempla!a
plalnt should NOT bo acted on until the person 70
assessed Or his agent should b notified Of aneh
o. informally in tho proceedings Of any Of Tic of
fcsrs connected With tho assessment, lcyying. o!
collecting Of tho taxes not affecting The substantial
manner at1cct the tax OF Tho nssessmcnt thereof.
Tbs complananss, Stockholders Of tho above
banks wsre q! Eesldents M Of the county and they
creased. Tia complaints which were originally
aggrtsvcd, Ind on sneh ,compiainis tho a..
.ss.smsnts ss u, , wsrs -, Esl:sa. hut not to morn
YIN T., oos.thta ths fatf essh market yase
notice to the banks Of this increaee In tho vaIna-
ton was not notice to the stockholdc!s and that tho
notice wasregaftedto residents Of Cook County, ths
result would 10 TO work hatdshipt to non.residents
aaa tho law would nos aet nniforn,l{. but sho
matter thas conferred Jurisdiction Or set IN motion
e. e. saa a9:f hiI2f is sHss
or rtn!o!maltsy shonll not vit}ato tho assessment,
tLa collection Of sa1 for mere error o. informally
that the various officers must gtye notice 10 every
ons specially. concerned he'oto they could act ia
en II 10 ss ss. e s q hs ec
Introduced Into the 1o1st section Of tho pretcnt
1sersnue law, bud produced radical change in pro.
!" o Il sast os
~ tho prevlou. decss!ons Of ths supreme Court On
ssss :':a Il 3sn,ns Tho Of
ths County noarl, must make ont their respective
sa;ss sS{ n{ GyeEeom:nx ths p'saunap!on thst Lawful
TO whatever nuthorlty had been conferred afon It,
bat I waa undoubtedly true that It would 10 con.
staton.l ass t9 PASS law providing for assessment
taxed yearly on ali he owned, and be ahoald taks
@ some notice Of what was done In tho premises.
s ss" Rs1snppe ~ psoSsa sw to ptoss es e x st
1e.'dcus siockholdsrs. hut, even supposins notlco
Il. xs: ae.sp r g
iact of the 1pcreased valuation was brought home
l. a as.
notice: Moreover. some OF the complanants up.
Rsased before the Goun.y Board on aohalf of thslr
need not oo ~ exact ~ IL lawsal. sersieo o., an
agent waa onEy goo4 10 long ~ ho was In the On.
sy,sa R,oy 81 b: opT,nsip.l baak vi dteeted 10
'Sasose ~, setsd sssoaah sa!sss lad intefs:t.
nS q H. the 70 Ts
b the stockhoids!s toeE caro- Of it. md Tic stoeE
@ ao!dcts measured sholr valuo Of tho stock by
5sp: tss IL. S p'eeSak sseetkodei.. Pass ~
r. nfornst1on required to Tho Assessor 10 enablo
~ lT ah 70 make hls rvturn, retained tho dividend
.aetesote, b. tho statute VIZ cicsri, ths agent 81
y shs ~ .na i III Sse Ssa y
I'D svsa ss f1a.tes sfs viii poses sas
and Interests Of ita cestus que trust. It wss thus
md fssnsh: u ~ ' tsns .hsss es II.
~ MeEeIJ MunlMcnt or titlu that he WIS one OF
We owners of the bank it, properly and franchtscs
ewdF' wdtF' rapfsed ana eSItrsllsd 81 oisesrs .eluet;
~, ~ tho stoekhosturs; It was THAR Trustees Its
WY WA peculiarly 10 manage every Thug xo ~ u
aeke tae sharee Ut stock valuable; 10 make Them
KEY dlTI!cn!l and To Rusr against everything
soat might diminish tho auount Ut dividends. Tbs
ssSnelnsion Was inuyltab!s That tho bank must bo
pank Haa sufficient.
~ next question was ~ to whether the COM
pla!nh were sufficient. The requirements OF Tho
is,' were very general thzt citizen might com.
kl.;Ma 1nt no directions wess given ~ to whether
'sshhou1d BY oral or in writing, or what assrments
MhI,5oald eontstn, but thu description Ut share
aH!aers 10 particular bank was 70 deHnto that 10
otaSs persons could be mistaken for them, TheEo
fooia % 90 question ~ to who wsfu meant,
VA the shares Of stock which wsfu
hsseEl1ed a. s>aesssd too low and that could
p sesiIg uuc1sseod Tut iii tho4s aharvs Of stock
eaa esgn aasesas to each respective 0wnst and tha
shMp!alnt, therefore, and notlce, meAntl ihat tic
snees o. slock htunxinx tu each Of tho Respective
sna5sno'sefI had been valued tou low, tbs notice
haa complaint, unqrs the statute, must be held 10
W a4llc!ent.
vlnn ns o. oniy remaining question. then, was what
,Isns % tnlusl!ce had been or w1s about tu hs
&s9 70 aay y hs somp'a!nsn Ths Legs.taiu
etc should VltlHta Tile 4se4sn,e nt and Cpu tt4