United States Supreme Court Cases & Opinions

U.S. Supreme Court

Hollister v. Zion's Cooperative Mercantile Institution, 111 U.S. 62 (1884)

Hollister v. Zion's Cooperative Mercantile Institution

Argued March 5, 1884

Decided March 17, 1884

111 U.S. 62

Syllabus

An order by A in favor of B or bearer upon C for "five dollars in merchandise at retail," paid out by A and used as circulation, is not a note within the meaning of the Act of February 8, 1875, imposing a tax of ten percent on notes used for circulation and paid out by persons, firms, associations other than national banking associations, corporations, state banks, or state banking associations.

These cases were heard together. The question at issue was whether notes to bearer for a given sum payable in merchandise at retail, paid out and used as circulation, were subject to the ten percent tax imposed by the statute of February 8, 1875, 18 Stat. 311. In the case from Utah, it appeared that the notes in question were paid out by the defendant in error, and used as circulation. In the case from Illinois, it appeared that the notes were used as circulation, but it did not appear that they were paid out by the defendant in error. The principal opinion of the Court relates to the Utah case.