Citizens Nat'l Bank v. Durr
257 U.S. 99 (1921)

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U.S. Supreme Court

Citizens Nat'l Bank v. Durr, 257 U.S. 99 (1921)

Citizens National Bank of Cincinnati v. Durr

No. 27

Argued October 7, 1921

Decided November 7, 1921

257 U.S. 99

Syllabus

1. Where objection to a tax imposed under general state statutes was limited to a claim of constitutional immunity for the particular subject taxed, without drawing in question the validity of the statutes as construed or of the authority exercised under the state in imposing the tax, a judgment sustaining the tax is reviewable by certiorari, but not by writ of error, under Jud.Code § 237, as amended. P. 257 U. S. 106.

2. A constitutional ground advanced for the first time in a petition for rehearing, presented to a state supreme court and denied without reasons given, comes too late to raise a question for review by this Court. P. 257 U. S. 106.

3. A membership in the New York Stock Exchange, although partaking of the nature of a personal privilege and assignable only with qualifications, is a valuable property right subject to property taxation. P. 257 U. S. 108.

4. Whether such a membership, when held by a resident of Ohio, is subjected to taxation by the Ohio taxing laws is a question of state law determinable by the supreme court of that state. P. 257 U. S. 108.

Page 257 U. S. 100

5. Since a membership carries peculiar and valuable privileges, not confined to the real estate of the exchange in New York, which enable a nonresident member to conduct a lucrative business in the state of his residence through other members in New York, his membership is taxable as intangible personal property at his domicile. P. 257 U. S. 108. Louisville & Jeffersonville Ferry Co. v. Kentucky,188 U. S. 385, distinguished.

6. Taxation by two states upon identical or closely related property interests falling within the jurisdiction of both is not forbidden by the Fourteenth Amendment. P. 257 U. S. 109.

7. A discrimination, in imposing a tax in Ohio on a membership in the New York Stock Exchange while exempting memberships in a local stock exchange, which may have been due to mere accident or negligence of subordinate officials, or have been based upon some fair reason, the presumption of which was not rebutted, held not to render the tax invalid under the Equal Protection Clause. P. 257 U. S. 109.

8. The fact that nonresident members of the New York Stock Exchange may deal in its securities through other members for less commissions than are charged nonmembers affords a reasonable ground for taxing the privilege in the one case and not in the other. P. 257 U. S. 110.

9. A tax on a membership in the New York Stock Exchange employed by an Ohio broker in executing orders for his Ohio clients through the exchange in New York held not an unconstitutional burden on interstate commerce. P. 257 U. S. 110.

100 Oh.St. 251 affirmed.

Review of a judgment of the Supreme Court of Ohio sustaining a tax in a suit brought by Anderson to enjoin its enforcement.

Page 257 U. S. 106

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