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Show BANK'S CONTENTION UPHELD TJ. S. Circuit Court of Appeals K-e-verses Lower Court. SAN FRANCISCO. Feb. C.-Tho United State Circuit Court of Appeals today reversed re-versed an order of tho Circuit court permitting per-mitting the Tax Collector of San Fran- ' Cisco to collect taxes on $557,313 worth of property that waa assessed to the London Lon-don & San Francisco bank. In April, 1S05. the Assessor demanded from the bank a statement of Its property. It was given nnd tho tax on the amount specified was tendered, but the Tax Collc.or refjscd It, claiming: that In addltUfl there scrc taxes du on $12,000 wor of other credit cred-it $110,771 duo tho bank by tho Port- lur.d and $123,537 duo by the Tacoma branch. Tho bank claimed that these amounts wero not assessablo in the clly and county of San Francisco. Tho Circuit Cir-cuit court sustained tho contention of the Tax Collector, but tho Appellate court holds the bank's olalm was Just. |