Case Name: 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
Court: New York Supreme Court, Appellate Division
Jurisdiction: New York
Decision Date: 1909-11
Citations: 134 A.D. 987
Docket Number: 
Parties: 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.
Judges: 
Reporter: Appellate Division Reports
Volume: 134
Pages: 987–987

Head Matter:
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.

Opinion:
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.