Ætna Insurance Company, Appellant and Respondent v. the Mayor, Aldermen and Commonalty of the City of New York…

Summary

The Court held that the 1886 exemption statute did not apply retroactively to taxes assessed for 1886, that the taxes imposed in 1887 and 1888 on the plaintiff's bank stock were void, that money paid under a void tax may be recovered without first vacating the assessment, and that payments made by banks without the plaintiff's express authority were involuntary and thus recoverable.