Commonwealth v. Beech Creek Railroad

Citations

• 188 Pa. 203
• 41 A. 605
• 1898 Pa. LEXIS 592

Syllabus

<p>Taxation — Corporation—Capital stock — Findings of fact.</p> <p>Where an appeal from a tax settlement made by the officers of the commonwealth is tried by the court without a jury, and no special finding of fact is set out in the opinion, and none was requested except that the court should adopt the appraisement of the company’s officers, the Supreme Court will assume that the court below correctly found the facts on which it expressly declared that its judgment rested.</p> <p>Taxation — Corporation—Tax on capital stock — Debt.</p> <p>In ascertaining the value of the capital stock of a corporation for the purposes of state taxation under the act of June 8, 1891, the indebtedness of the company cannot be deducted from the value of the property and assets otherwise ascertained, but it may be considered as one of the relevant facts bearing upon the value of the stock.</p>