26 Wash. 79 | Wash. | 1901
This is a proceeding instituted in the -court below for a writ of review, to review an action of tbe board of equalization of assessment for tbe city of Seattle. Tbe respondents are holders of sixteen hundred and ninety-seven shares of the capital stock of Dexter Horton & Co., Bankers, a corporation located and doing business in the •city of Seattle. The assessor of King county, for the purposes of taxation for the year 1900, assessed and valued "these shares at $2,833.99. On January 1, 1901, the board
“Seattle, Wash., Aug. 10th, 1900.
“To Dexter Horton & Co., Seattle:
“The board of equalization, now sitting at the King County Court House, hereby cites you to appear before it within five (5) days after the date of the service of this notice upon you, and show cause, if any, why your personal assessment for the year 1900 should not be raised. Ho. 43. “Boabd op Equalization.”
“By E. H. Evenson, Clerk of the Board.
“By E. W. Wood, Deputy,”—
and made representations to said board in opposition to the raising of said assessment. The board, after due hearing, in which the bank was fully heard, reached the conclusion that said assessment ought to be raised, and that $50,910 was a true, just and equitable valuation of said stock, and thereupon increased the valuation of the same to said amount. The court below found that the board, in raising said assessment, acted without notice to the respondents and without the appearance of the respondents, and that by reason thereof the said board was wholly without jurisdiction, and its act in raising said assessment void. Judgment was accordingly entered for the respondents. Erom the same this appeal is prosecuted.
But two points are raised. It is contended by the respondents (1) that the notice to the bank was no notice to the stockholders, (2) that the notice given was not notice of an intention on the part of the board to raise the valuation upon the shares of stock of the bank. The determination of these questions depends upon the proper construction of §§ 1677-1680, Bal. Code. It will be no
“A bank is composed of its shareholders, and, while the law assesses the shares to the shareholders, it imposes upon the bank the duty of making out and delivering to the assessor of the county in which the bank is located a statement, verified by the oath of the cashier of said bank, showing the name of each shareholder, with his residence and the number of shares belonging to him. It is also the duty of the bank, under the law, to pay the tax collector the taxes authorized by this assessment when they become due, and the taxes are made a lien upon the real estate of the bank. If the bank is liable for the payment of the taxes, and the law imposes upon it the duty of paying them, then a trust is imposed upon the bank by the law for the payment of the taxes and the bank could properly bring the action under § 4825, supra. As a practical fact, the assessor goes to the cashier of the bank to obtain his data. In fact, it frequently occurs that the owners of the shares are non-residents, and the tax could not be collected in any other way. . . . The law certainly has constituted the bank the trustee of the shareholders for the purpose of returning the assessable property to the assessor, and of paying the taxes on the same to the collector.”
The law charges the principal with notice of every fact
The judgment of the court below is therefore reversed, with instructions to dismiss this action at the cost of the respondents; appellants to recover costs of this appeal.