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CONEY ISLAND JOCKEY CLUBS TAXES. Albany. N. Y.. January 22. The Court of Appeals in a decision just handed down, sustains the contention of Attorney-General Carmody in regard to corporate franchise taxes assessed against the Coney Island Jockey Club by State Comptroller Sohmer. The Coney island Jockey Club complained that it had not held race? meetings at the Sheepsliead Ray track since the anti-race track laws were enacted in July, 19Ll, and that, therefore, since that time it was doing nothing for which it was incorporated and should not have; been taxed. However, it appeared that since 1NS0. when the club began operations, it had accumulated. 4lX acres of land at Sheepsliead Ray, which the company itself valued at ,80O,0OO. and which only cost it approximately 25,000. The Court of Appeals held that in looking after and taking care of this valuable property it was doing business for which it was properly taxable, even though it was not holding race meetings on its properly.
