Phelps Mortg. Co. v. Bd. of Equal. of Oskaloosa

• Decision Date: 06 February 1892
• Citation: 84 Iowa 610,51 N.W. 50
• Parties: PHELPS MORTGAGE CO. v. BOARD OF EQUALIZATION OF CITY OF OSKALOOSA.
• Court: Iowa Supreme Court

84 Iowa 610

51 N.W. 50

PHELPS MORTGAGE CO.

v.BOARD OF EQUALIZATION OF CITY OF OSKALOOSA.

Supreme Court of Iowa.

Feb. 6, 1892.

Appeal from district court, Mahaska county; D. RYAN, Judge.

Appeal by plaintiff from an assessment on moneys and credits for the year 1889.Bolton & McCoy and John O. Malcom, for appellant.

G. B. McFall, for appellee.

GIVEN, J.

Appellant is a corporation duly organized under the laws of Iowa for the business of making and selling loans, with the principal place of business in the city of Oskaloosa, Iowa. On the 1st of January, 1889, the assessor of the city assessed the appellant, on moneys and credits, in the sum of $1,000, with the consent and approval of Mr. Phelps, president, who signed and swore to the statement. The board of equalization posted appellant, as provided by law, raising the assessment from $1,000, as fixed by the assessor, to $13,000. Mr. Phelps appeared before the board, and protested against the assessment of $13,000, and asked that it be reduced to $1,000, upon which application the assessment was reduced to $6,000, from which appellant appealed to the district court, where, after full trial, it was reduced to $1,000, from which appellant appeals to this court. It will be observed that the president of the appellant company did not question the right of the board to assess the company upon $1,000, moneys and credits, and that the appeal to the district court was from the action of the board refusing to reduce the assessment to that sum. Mr. Phelps testifies that he gave in $1,000, and signed the affidavit, but did not notice what it was on; that he made no objection to a $1,000 assessment. “I was willing to pay on one thousand dollars at that time, provided we could do so without trouble.” It does not appear that Mr. Phelps' consent to an assessment on $1,000, as expressed to the assessor and to the board, was based upon any condition. Having thus consented to an assessment in the sum fixed by the district court, we think it is now too late for the appellant to raise the question of its liability to any assessment; and therefore the judgment of the district court should be affirmed.