Wilkes-Barre Deposit & Savings Bank v. City of Wilkes-Barre

Citations

• 148 Pa. 601
• 24 A. 111
• 1892 Pa. LEXIS 1039

Syllabus

<p>Taxation — Municipal bonds — Act of June, 1, 1889.</p> <p>It is the duty oí the city treasurer to retain, out of the interest on city bonds, the tax imposed by the act of June 1, 1889, § 1.</p> <p>Bonds held by savings bank — Effect of payment of six mill tax under § 25 of the act of June 1, 1889.</p> <p>Notwithstanding the payment by a savings bank of a tax of six mills on the dollar upon the par value of all the shares of its stock, under § 25 of the act of June 1, 1889, city bonds, held by it and constituting part of its capital and profits, are taxable under § 1 of said act.</p>