S. W. Straus & Co. v. County of Los Angeles

This action was commenced to recover $14,607.96, being the amount of taxes paid under protest. Judgment went for the defendants and this is an appeal therefrom.

The facts giving rise to the question may be recited as follows: On the first Monday in March, 1926, the appellant had in its possession certain bonds and interim certificates which had been deposited with it for safekeeping by patrons residing in the county of Los Angeles. Shortly after that date a deputy assessor called at appellant’s office and upon an examination of its books noticed an item “Bonds in safe keeping”. Straus & Co. gave a statement of its own taxable property and a description of the bonds deposited with it, as already mentioned, but in response to the request of the deputy for the names and addresses of the owners of the particular bonds, the tax upon which is herein involved, it declined to give the information and told the deputy “they could not afford to give the names of the customers because if they did it would ‘bust them up in business’ ”. The county assessor told the representatives of the appellant that if they failed or refused to furnish the names of the owners of the bonds he would be…