Louis Brandeis

“ It authorized the state either to tax the shares of a national bank, or to include dividends derived therefrom in taxable income of the holder thereof, or to tax the income of the bank, and provided that the 'imposition by said state of any one of the above three forms of taxation shall be in lieu of the others.' In 1917 Missouri enacted a law (Laws 1917, p. 524) taxing income which, so far as here material, has remained in force without change. ”

“ The decree was entered upon a hearing before a single judge. An interlocutory injunction had not been prayed for in the bill, or otherwise sought. The taxing officers, took an appeal to the United States Circuit Court of Appeals for the Eighth Circuit, which was allowed and is now pending. Then they applied to the District Judge for the allowance also of a direct appeal to the court, because they were uncertain whether the appeal lay to it or to the Circuit Court of Appeals. ”

“ As so amended, section 266 also permits a direct appeal to this court from the final decree in those suits in which the hearing on an application for an interlocutory injunction is required to be before three judges.
First National Bank v. Buder, supra, is not a case of that character, because no state statute is assailed as being repugnant to the federal Constitution. The tax upon the shares in the bank was assessed as of June 1, 1923, for the year 1924. ”