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Story
March 9, 1898
The Seattle Post Intelligencer
Seattle, King County, Washington
What is this article about?
In Tacoma superior court, Judge Williamson hears arguments in Scandinavian-American Bank's suit against the county over taxing out-of-state bank stock owned by non-residents. Demurrer sustained; key issue undecided. Case has statewide implications for banks.
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RIGHT TO ASSESS BANK STOCK.
Non-Resident Owners Interested in a Case at Tacoma.
Special Dispatch to the Post-Intelligencer.
TACOMA, March 8.—Legal points of unusual importance at issue in the suit of the Scandinavian-American bank against the county, pertaining to the right of assessment of bank stock owned outside the state, were discussed before Judge Williamson in the superior court today. The fact that there are numerous banks in the state in the same relative position as the plaintiff institution, and that the present suit may become the basis for future action on their part, makes the case of extraordinary interest.
The amount at issue is about $2,500 and the case came up on a demurrer to the complaint, which, after full argument, was sustained. The chief point, whether stock owned outside the state can be taxed within the state, was not definitely decided. Judge Williamson explaining that he would prefer to look more deeply into the law before arriving at a decision.
In talking on this point the court hinted that the fact that the stockholders had not appeared before the board of equalization to push their claim for exemption or a reduction of the tax may make it hard for them to seek any recourse at this late day in the courts. This was more a suggestion than an opinion, but indicates the present position of the court. Briefs are to be submitted upon the chief point in issue and a decision rendered thereafter.
In argument the plaintiff cited a case of similar nature from Pullman, this state. In referring to this case the court called attention to the fact that in this suit the plaintiffs had appeared before the board of equalization, as required by law, where they urged their demands in the form of a protest, the lower court thereafter holding with them, and largely in line with the contention of plaintiff in the present case.
Inquiry develops that in several of the larger counties in the state suits of a similar nature to that of the local bank are pending in one form and another, the principal point at issue in each being the right of a county to assess a tax upon bank stock held outside the state and the property of non-residents. The indications are that the present case will be carried to the state supreme court for final adjudication.
Non-Resident Owners Interested in a Case at Tacoma.
Special Dispatch to the Post-Intelligencer.
TACOMA, March 8.—Legal points of unusual importance at issue in the suit of the Scandinavian-American bank against the county, pertaining to the right of assessment of bank stock owned outside the state, were discussed before Judge Williamson in the superior court today. The fact that there are numerous banks in the state in the same relative position as the plaintiff institution, and that the present suit may become the basis for future action on their part, makes the case of extraordinary interest.
The amount at issue is about $2,500 and the case came up on a demurrer to the complaint, which, after full argument, was sustained. The chief point, whether stock owned outside the state can be taxed within the state, was not definitely decided. Judge Williamson explaining that he would prefer to look more deeply into the law before arriving at a decision.
In talking on this point the court hinted that the fact that the stockholders had not appeared before the board of equalization to push their claim for exemption or a reduction of the tax may make it hard for them to seek any recourse at this late day in the courts. This was more a suggestion than an opinion, but indicates the present position of the court. Briefs are to be submitted upon the chief point in issue and a decision rendered thereafter.
In argument the plaintiff cited a case of similar nature from Pullman, this state. In referring to this case the court called attention to the fact that in this suit the plaintiffs had appeared before the board of equalization, as required by law, where they urged their demands in the form of a protest, the lower court thereafter holding with them, and largely in line with the contention of plaintiff in the present case.
Inquiry develops that in several of the larger counties in the state suits of a similar nature to that of the local bank are pending in one form and another, the principal point at issue in each being the right of a county to assess a tax upon bank stock held outside the state and the property of non-residents. The indications are that the present case will be carried to the state supreme court for final adjudication.
What sub-type of article is it?
Legal Case
Tax Dispute
What themes does it cover?
Justice
What keywords are associated?
Bank Stock Taxation
Non Resident Owners
Superior Court
Tacoma
Scandinavian American Bank
Demurrer
Board Of Equalization
What entities or persons were involved?
Judge Williamson
Where did it happen?
Tacoma
Story Details
Key Persons
Judge Williamson
Location
Tacoma
Event Date
March 8
Story Details
Suit by Scandinavian-American bank against the county over right to assess tax on out-of-state bank stock discussed in superior court. Demurrer to complaint sustained after argument. Chief point undecided pending further review. Case may influence similar suits statewide and likely appeal to supreme court.