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MERCANTILE BANK v. TENNESSEE

No. 676.

161 U.S. 161 (1896)

16 S.Ct. 461

40 L.Ed. 656

MERCANTILE BANK, v. TENNESSEE, FOR THE USE OF MEMPHIS.

Supreme Court of United States.

Decided March 2, 1896.

Attorney(s) appearing for the Case

Mr. T.B. Turley, (with whom was Mr. L.E. Wright on the brief,) for plaintiffs in error.

Mr. S.P. Walker, (with whom was Mr. C.W. Metcalf and Mr. F.T. Edmondson on the brief,) for defendant in error.

MR. JUSTICE PECKHAM, after stating the case, delivered the opinion of the court.

By the original charter granted to the Gayoso Savings Institution in 1856, under which an organization was effected and the institution did business for many years, an exemption was granted to it similar to that granted in the case of the Bank of Commerce, just decided, ante, 134. That exemption was applicable to the shareholders...

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