UNITED STATES SUPREME COURT DECISIONS ON-LINE

1. The last clause of sec. 3408 of the Revised Statutes exempts savings banks of the character there mentioned from taxation on so much of their deposits as they have invested in securities of the United States, and on all sums not exceeding $2,000 which they have on deposit in the name of any one person.

2. The Act of March 1, 1879, c. 125, 20 Stat. 327, does not change the effect of that clause.

The facts are stated in the opinion of the Court.