Commonwealth v. Reading & Southwestern Street Ry. Co.

Hargest, P. J.,

This case is an appeal from the settlement of a corporate net income tax for the year 1939, upon $15,600, amounting to $1,092. The ease was tried without the intervention of a jury, and a stipulation as to facts was filed. We have also answered the defendant’s requests for findings of fact and conclusions of law.

Facts

The Reading & Southwestern Street Railway Company was incorporated in 1890 to operate a street railway. In 1901 it executed a lease for a term of 999 years, whereby its street railway system, its franchise, and all its rights and property of every sort were leased…