
    The People of the State of New York ex rel. New York State Gas and Electric Corporation, Respondent, v. John F. Gilchrist et al., Constituting the State Tax Commission, Appellants.
    (Submitted January 21, 1925;
    decided February 25, 1925.)
    
      Tax —• mortgage tax —■ mortgage given to secure issue of bonds —• retirement of bonds and issue of new bonds in their stead secured by same mortgage — when additional tax improperly imposed.
    
    
      Matter of N. Y. State Gas & Elec. Corpn. v. Gilchrist, 209 App. Div. 771, affirmed.
    Appeal from an order of the Appellate Division of the Supreme Court in the third judicial department, entered July 29, 1924, which reversed a determination of the State Tax Commission requiring the relator to pay an additional mortgage recording tax. Relator executed and recorded a mortgage covering certain real property as security for an issue of bonds, and paid -the recording tax thereon. Thereafter it retired such bonds and issued a new series in place thereof secured by the same mortgage. The question was whether an additional recording tax on the amount of the new bond issue was legally imposed.
    
      Carl Sherman, Attorney-General (Francis W. Cullen of counsel), for appellants.
    
      Frank Irvine and Garrett A. Brownback for respondent.
   Order affirmed, with costs, on opinion of Kellogg, J., below.

Concur: Hiscock, Ch. J., Cardozo, Pound, Crane, Andrews and Lehman, JJ. Absent: McLaughlin, J.  