Commonwealth v. J. B. Lippincott Co.
Supreme Court of Pennsylvania
Commonwealth v. J. B. Lippincott Co., 156 Pa. 513 (Pa. 1893)
27 A. 10; 1893 Pa. LEXIS 1378
Dean, Green, Mitchell, Sterrett, Thompson, Williams
Commonwealth v. J. B. Lippincott Co.
Opinion of the Court
This case appears to be ruled by Commonwealth v. William Mann Company, 150 Pa. 64, and is affirmed on the opinion of the learned trial judge, sustaining defendant’s sixth exception to his former adjudication.
The apparent power “ of dealing in books, maps and periodicals, stationery and other like articles,” found in defendant company’s charter, is void, and may therefore be treated as eliminated. That being done the company must be considered as exclusively organized for manufacturing purposes.
Judgment affirmed.
Reference
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- Syllabus
- Taxation — Exemption—Manufacturing corporations — Invalid power in charter — Act of June 1, 1889. A power in the charter of a manufacturing corporation to deal “ in books, maps, periodicals, stationery and other like articles ” is invalid, and such a corporation must be considered as exclusively organized for manufacturing purposes. A corporation so organized can only be taxed on so much of its capital stock as is not invested in its manufacturing business.