Mercantile Trust & Deposit Co. v. Mellon

Citations

• 196 Pa. 176
• 46 A. 308
• 1900 Pa. LEXIS 497

Syllabus

<p>Corporations — Municipal tax on stock — Receivers—Action against nonresident stockholder.</p> <p>A tax assessed by the city of Baltimore under the laws of Maryland against the stock of a Maryland corporation owned by a citizen of Pennsylvania and enfbreed against the receivers of the corporation, may, when paid by such receivers, become by statute a lien against the stock, but the decree of the court in such proceedings does not raise a cause of action in personam against the Pennsylvania stockholder.</p>