Commonwealth v. Lackawanna I. & C. Co.

Citations

• 129 Pa. 346
• 18 A. 133
• 1889 Pa. LEXIS 961

Syllabus

<p>(a) A coal and iron company, exercising the corporate powers with which it was invested, owned and operated coal and ore lands, and from the products manufactured, transported and sold iron and steel as a manufacturing company, having, also, a portion of its capital invested in bonds and mortgages, city lots and store-goods.</p> <p>1. In such case, § 20, act of June 30, 1885, P. L. 193, exempts from the state tax imposed by § 4, act of June 7, 1879, P. L. 112, only so much of the corporation’s capital as is employed in strictly manufacturing operations, as distinguished from that employed in mining operations, or invested in city lots and bonds and mortgages.</p> <p>2. The fact that a portion of the capital of a manufacturing corporation is employed in other business operations, does not deprive the comjiany of the exemption authorized by § 20, act of July 30, 1885, P. L. 193, as to its capital employed strictly in its manufacturing business.</p>