First Nat. Bank of Lampasas v. City of Lampasas

• Decision Date: 18 November 1903
• Citation: 78 S.W. 42
• Parties: FIRST NAT. BANK OF LAMPASAS v. CITY OF LAMPASAS.<SMALL><SUP>*</SUP></SMALL>
• Court: Texas Court of Appeals

Page 42

78 S.W. 42

FIRST NAT. BANK OF LAMPASAS v. CITY OF LAMPASAS.^*

Court of Civil Appeals of Texas.

November 18, 1903.

Appeal from District Court, Lampasas County; John M. Furman, Judge.

Action by the city of Lampasas against the First National Bank of Lampasas. From a judgment for plaintiff, defendant appeals. Reformed and affirmed.

This is a suit by the city of Lampasas to recover $600, as taxes, and 10 per cent. thereon as a penalty, from the First National Bank of Lampasas. There was a nonjury trial, resulting in a judgment for the plaintiff for the amount sued for, and the defendant has appealed.

The trial judge filed the following findings of fact:

"(1) I find as a fact that the city of Lampasas is a municipal corporation, duly incorporated under and by virtue of the laws of the state of Texas as a city of over one thousand inhabitants.

"(2) I find as a fact the defendant is a corporation duly and legally incorporated as a national bank, and was engaged in doing a banking business on January 1, 1902, with a capital stock of $50,000, of which $200 was invested in real estate mentioned in plaintiff's petition, and was also possessed of a surplus fund of $10,000 over and above said $50,000 capital stock, and was doing business and located in the city of Lampasas, with J. F. Skinner as president, H. N. Key as second vice president, and J. F. White as cashier.

"(3) I find that on, to wit, the 22d day of May, 1902, plaintiff, through its regularly qualified city assessor and collector of taxes, called upon defendant to render its property for taxes for the year 1902, whereupon said defendant, through its cashier, J. F. White, made out under oath, and rendered to said city assessor and collector, a rendition containing, among other items, the following: `500 shares of capital stock, etc., value, $49,800'; also the real estate mentioned in the petition, of the value of $200.

"(4) I find that said city assessor, in accordance with law, delivered to the board of equalization of said city the various lists of property rendered for taxes for said year 1902, among which was the list so rendered by J. F. White as cashier of defendant.

"(5) I find as a fact that said board of equalization were duly qualified to act as such, and did thereafterwards, on or about July 23, 1902, enter an order placing the valuation of said 500 shares of capital stock so rendered by defendant at the sum of $59,800.

"(6) I find as a fact that said valuation was ascertained and found by said board by considering the valuation of said stock as rendered, together with the value of said surplus fund of $10,000; and I further find that said board considered, under all the evidence, that said 500 shares of stock so rendered was of the fair and reasonable value of $59,800 on the 1st day of January, 1902. And I further find that said 500 shares of stock was in fact of the fair and reasonable market value of $59,800 on said 1st day of January, 1902.

"(7) I find as a fact that after determining to raise said valuation of said stock from $49,800, as rendered, to $59,800, the real value thereof, said board of equalization caused the defendant to be duly notified of said proposed increase in valuation, and thereupon the said defendant appeared before said board, and, after a full hearing, said valuation, as changed and raised by said board, was ordered by said board to be placed on the tax rolls of said city for the year 1902, which was accordingly done. I further find that on August 9, 1902, said rolls were duly approved...