Commonwealth v. West End Coal Co.

Citations

• 182 Pa. 353
• 38 A. 14
• 1897 Pa. LEXIS 818

Syllabus

<p>Taxation — Corporation—Appraisement of shares — Mining leases.</p> <p>A corporation owning mining leases earned over sixteen per cent during the tax year of 1895, during which time there were no sales of stock. It owned no land, and some of its mining leases were to expire on June 30, 1897, and there was some uncertainty about their renewal, which was considered in making the assessment. It did not appear that a failure to secure a renewal of the leases would necessarily end the business operations of the company. The auditor general and state treasurer assessed the shares at live sixths of their par value. Held, that a proper allowance had been made for a possible failure to renew the leases, and that the assessment should be sustained.</p>