Commonwealth v. Thackara Mfg. Co.

Citations

• 156 Pa. 510
• 27 A. 13
• 1893 Pa. LEXIS 1377

Syllabus

<p>Taxation — HxempMon—Manufacturing corporations — Invalid power in •charter — Acts of April 29,1874, and June 1, 1889.</p> <p>Under the act of April 29,1874, P. L. 73, a corporation cannot be organized to carry on a mercantile business of dealing or of buying and selling.</p> <p>If the charter of a company organized under the act of April 29, 1874, contains words empowering it not only to manufacture, but also to engage in a mercantile business, the mercantile words are ineffectual, and the corporation has only the single power to manufacture. Such a company is taxable only on so much of its capital stock as is invested in its mercantile business, under the act of June 1, 1889, P. L. 420.</p>