106 Neb. 877 | Neb. | 1921
This is an appeal from the assessment for taxation of the shares of stock of the Peters Trust Company, appellant herein. Appellant requested the taxing authorities of Douglas county to deduct from the valuation for assessment purposes certain bonds of joint stock land banks, organized under the laws of the United States, and certain United States Liberty bonds, which were at the time of the assessment owned by appellant. The request was denied, and on appeal the action of the taxing authorities was upheld by the judgment of the district court. This appeal is lodged to review that judgment.
It is conceded that both series of bonds are not subject to taxation as property in the hands of their owners. Appellant insists that including these bonds in the valuation of the shares of stock for assessment purposes, as required to be done under section 6343, Rev. St. 1913, as amended by chapter 108, Laws 1915, does in effect lay a tax on the bonds in the hands of their owners, and is contrary to the laws of the United States declaring such bonds exempt from taxation in the hands of their owners.
The solution of the question presented depends on the interpretation given to said section 6343,. as amended, which provided the same method and procedure for the assessment of the shares of stock of trust companies that are provided for the assessment of shares of stock of banking corporations. In State v. First Nat. Bank, 103 Neb. 280, this court, after a thorough and elaborate presentation by able counsel, and after full investigation and careful consideration, construed said section in so far as
The judgment of the district court is
Affirmed.