ERROR TO THE COURT OF APPEALS OF THE STATE OF NEW YORK.
MR. JUSTICE PECKHAM delivered the opinion of the court.
The plaintiff in error comes here for the purpose of obtaining a review of the judgment of the New York Court of Appeals, which affirmed the judgments of the courts below dismissing a writ of certiorari.
The relator is a corporation created under the laws of the State of New York and a resident of and doing business in the city of New York, and it procured the writ, as provided for in the statute, to review an assessment of $165,999 made upon its capital in the regular course of proceedings to levy and collect the annual tax budget of the city for the year 1896. Plaintiff sought to review the assessment on the ground,
among others, that it was illegal, and that to levy it, under the facts stated, would be to deny to the company the equal protection of the laws.
The facts upon which the question arises are these: The capital of the company was $900,000. The tax commissioners of the city of New York, in the course of their proceeding to tax the actual value of that capital, ascertained the actual value of what they termed the total "gross assets" of the company, which they found to have been $1,095,049
This value was arrived at from a statement of its property made by the company to the commissioners. By the term "gross assets," used by the commissioners, is meant the actual value of the capital and surplus of the company, but not its franchise. People ex rel. Union Trust Company v. Coleman, 126 N.Y. 433.
From this total they deducted --
(a) The debts of the company $329,050
(b) The assessed value of the real estate
of the company, otherwise taxed. 600,000
Leaving a balance of $165,999
which was the amount upon which the company was assessed upon its capital aside from the assessment of $600,000, ...