Commonwealth v. Central D. & P. Tel. Co.

Citations

• 145 Pa. 121
• 28 W.N.C. 515
• 22 A. 841
• 1891 Pa. LEXIS 655

Syllabus

<p>(a) In consideration of a part of the capital stock of a telephone company, the owner of patents for telephones agreed with the company that it should have the exclusive right for a term of years to use the same within certain territory, the instruments so used to be furnished by, and to remain the property of the patentee, the company paying a rental for their use:</p> <p>1. The contract not transferring to the telephone company the ownership of any interest in the letters patent, but simply the right to use as a lessee manufactured instruments made thereunder, the stock paid under the- contract was not an investment in patent rights, so as to be exempt, under the laws of the United States, from taxation by the state.</p>