Commercial Bank v. Chambers

Citations

• 182 U.S. 556
• 21 S. Ct. 863
• 45 L. Ed. 1227
• 1901 U.S. LEXIS 1243

Syllabus

<p>As the constitution of Utah distinguished between stock and credits in determining the amount of property of a national bank subject to taxation, shares of stock were not credits, and resident and non-resident shareholders were not entitled to deduct bona fide indebtedness from their shares of stock.</p> <p>The assessed value of real estate owned by a bank in other States than that in which the bank is located, is not to be deducted in determining the amount of assessable property of the bank, unless authorized by the laws of the State in which the bank is situated.</p>