United States Supreme Court Cases & Opinions

U.S. Supreme Court

Lederer v. Fidelity Trust Co., 267 U.S. 17 (1925)

Lederer v. Fidelity Trust Company

No. 184

Argued January 15, 16, 1925

Decided January 26, 1925

267 U.S. 17

Syllabus

1. Railroad equipment certificates issued by a trust company as security for money advanced by a syndicate to purchase equipment leased by the trust company to a railroad under contract for periodical payments, as rentals, and ultimate acquisition of title by the latter, and which are payable with interest to bearer or registered holder from the rentals thus to be paid by the railroad, held subject to stamp tax under Title XI, § 1100 and schedule A(1) of the Act of February 24, 1919, c. 18, as in the category of "instruments . . . issued by any corporation . . . known generally as corporate securities." P. 267 U. S. 20.

28 F.1d 09 reversed.

Page 267 U. S. 18

Certiorari to a judgment of the circuit court of appeals which reversed a judgment of the district court in favor of the petitioner in an action brought by the respondent to recover the amount of a stamp tax paid under protest.

Page 267 U. S. 20