Georgetown National Bank v. McFarland, 273 U.S. 568 (1927)

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Georgetown National Bank v. McFarland

No. 78

Argued December 13, 1926
Decided March 21, 1927
273 U.S. 568

ERROR TO THE COURT OF APPEALS

OF THE STATE OF KENTUCKY

Syllabus

Upon the question of fact whether capital invested by individuals in bonds and other securities was so invested as to come in competition with national banks (Rev.Stats. § 5219), this Court will accept the negative finding of the state court where the evidence is in some particulars conflicting and the finding is supported by evidence and not certainly against the weight of evidence. P. 570.

So held where the evidence fell short of establishing that the capital was employed substantially as in the loan and investment features of banking in making investments by way of loan or discount or in notes, bonds, and other securities, with a view to sale or repayment and reinvestment.

208 Ky. 7 affirmed.

Error to a judgment of the Court of Appeals of Kentucky which reversed a judgment for the plaintiff in a suit to enjoin the sheriff and other taxing officials of Scott County, Kentucky, from assessing or collecting taxes on the shares of the Bank.