Main St. Bank Inc v. Richmond

Citation95 S.E. 386
Case DateMarch 21, 1918
CourtSupreme Court of Virginia

95 S.E. 386

MAIN STREET BANK, Inc.
v.
CITY OP RICHMOND et al.

Supreme Court of Appeals of Virginia.

March 21, 1918.


Error to Hustings Court of Richmond.

Motion by the Main Street Bank, Incorporated, for relief against an erroneous assessment. To review an order dismissing the motion, the Bank brings error. Affirmed.

O'Flaherty, Fulton & Byrd, of Richmond, for plaintiff in error.

The Attorney General and H. R. Pollard, of Richmond, for defendants in error.

PRENTIS, J. The Main Street Bank, Incorporated, proceeded under sections 567 and 571 for relief against an alleged erroneous assessment of state and local taxes for the year 1914. The trial court dismissed the motion, and the bank is here complaining.

One controlling question is whether or not the bank can proceed under those sections, and to determine this it is only necessary to refer to the statutes under which the taxes were levied.

Sections 17 to 22, inclusive, of the revenue law, provide for the taxation of bank stock. Under section 17 it is expressly provided that no tax shall be assessed upon the capital of a bank, and that the bank shall annually return to the local commissioner of the revenue a report in which shall be given the names and residences of all of its stockholders, together with the number and actual value of the shares of stock held by each stockholder, for certain deductions of personal debts of individual stockholders from the value of the shares owned by such stockholders, and for

[95 S.E. 387]

the adjustment of the credits due to each stockholder by reason of deductions so authorized. Section 18 provides that it shall be the duty of the commissioner of the revenue, when he receives such report, to assess each stockholder upon the value of the shares of stock owned by him thus ascertained, and that three assessment lists shall be made out, one of which shall be delivered to the bank, one to the auditor of public accounts, and the other retained by the commissioner; that the assessment list thus delivered to the bank shall be a notice to the bank of the tax assessed against each of its stockholders, and have the legal force and effect of a summons upon suggestion formally issued and regularly served; that the tax assessed upon each stockholder shall be the first lien upon the stock standing in his name, and upon the dividends due and to become due thereon, and have priority over any and all other liens; that the bank shall hold the dividends or other funds belonging to the...

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6 practice notes
  • City Of Richmond v. Merch.S' Nat. Bank Of Richmond
    • United States
    • Virginia Supreme Court of Virginia
    • 13 Marzo 1919
    ...proceeding should have been in their name, and could not be maintained by the bank. Main St. Bank, Inc., v. City of Richmond, 122 Va. 574, 95 S. E. 386. Whatever merit there may have been in this assignment in the first instance, the error in procedure was cured by the consent order, nunc p......
  • Richmond Trust Co v. Christian
    • United States
    • Virginia Supreme Court of Virginia
    • 22 Marzo 1928
    ..."In view of the decisions in Union Bank v. City of Richmond, 94 Va. 316, 26 S. E. 821; Main Street Bank v. Richmond, 122 Va. 574, 95 S. E. 386; and the Merchants' National Bank Case, in 256 U. S. 635, 41 S. Ct 619, 65 L. Ed. 1131, I may seem to lay too great emphasis on this matter, but it ......
  • Richmond Trust Co. v. Christian
    • United States
    • Virginia Supreme Court of Virginia
    • 22 Marzo 1928
    ...stockholders. "In view of the decisions in Union Bank City of Richmond, 94 Va. 316, 26 S.E. 821; Main Street Bank Richmond, 122 Va. 574, 95 S.E. 386; and the Merchants National Bank Case, in 258 U.S. 635, 41 S.Ct. 619, 65 L.Ed. 1131, I may seem to lay too great emphasis on this matter, but ......
  • Sussex County v. Jarratt
    • United States
    • Virginia Supreme Court of Virginia
    • 17 Marzo 1921
    ...be an assessment, and a person aggrieved by such assessment (sections 567 and 571). In Main Street Bank v. Citv of Richmond, 122 Va. 574, 95 S. E. 386, decided March 21, 1918, the court says: " 'It is unnecessary for us to consider in this case, whether or not the error on the part of the o......
  • Request a trial to view additional results
6 cases
  • City Of Richmond v. Merch.S' Nat. Bank Of Richmond
    • United States
    • Virginia Supreme Court of Virginia
    • 13 Marzo 1919
    ...proceeding should have been in their name, and could not be maintained by the bank. Main St. Bank, Inc., v. City of Richmond, 122 Va. 574, 95 S. E. 386. Whatever merit there may have been in this assignment in the first instance, the error in procedure was cured by the consent order, nunc p......
  • Richmond Trust Co v. Christian
    • United States
    • Virginia Supreme Court of Virginia
    • 22 Marzo 1928
    ..."In view of the decisions in Union Bank v. City of Richmond, 94 Va. 316, 26 S. E. 821; Main Street Bank v. Richmond, 122 Va. 574, 95 S. E. 386; and the Merchants' National Bank Case, in 256 U. S. 635, 41 S. Ct 619, 65 L. Ed. 1131, I may seem to lay too great emphasis on this matter, but it ......
  • Richmond Trust Co. v. Christian
    • United States
    • Virginia Supreme Court of Virginia
    • 22 Marzo 1928
    ...stockholders. "In view of the decisions in Union Bank City of Richmond, 94 Va. 316, 26 S.E. 821; Main Street Bank Richmond, 122 Va. 574, 95 S.E. 386; and the Merchants National Bank Case, in 258 U.S. 635, 41 S.Ct. 619, 65 L.Ed. 1131, I may seem to lay too great emphasis on this matter, but ......
  • Sussex County v. Jarratt
    • United States
    • Virginia Supreme Court of Virginia
    • 17 Marzo 1921
    ...be an assessment, and a person aggrieved by such assessment (sections 567 and 571). In Main Street Bank v. Citv of Richmond, 122 Va. 574, 95 S. E. 386, decided March 21, 1918, the court says: " 'It is unnecessary for us to consider in this case, whether or not the error on the part of the o......
  • Request a trial to view additional results

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