Philadelphia v. Philadelphia & Gray's Ferry Passenger Railway Co.
Supreme Court of Pennsylvania
Certificate from Nisi JPrius. This was an action of debt by the City of Philadelphia against The Philadelphia and Gray’s Ferry Railway Company, to recover 6 per cent, on the dividends of the company for the years 1861, 1862. and 1863. The Act of April 9th 1858, incorporating the company, by its 4th section provides that “ the company shall annually pay into the treasury of the city of Philadelphia for the use of the said city, whenever the dividends shall exceed 6 per centum…
Read the full summary
Certificate from Nisi JPrius. This was an action of debt by the City of Philadelphia against The Philadelphia and Gray’s Ferry Railway Company, to recover 6 per cent, on the dividends of the company for the years 1861, 1862. and 1863. The Act of April 9th 1858, incorporating the company, by its 4th section provides that “ the company shall annually pay into the treasury of the city of Philadelphia for the use of the said city, whenever the dividends shall exceed 6 per centum per annum on the capital stock, the sum of 6 per centum on the said dividends thus declared.” The 3d section provides…
1Opinion of the Court
The opinion of the court was delivered, March 26th 1866, by
Read, J.
It is conceded that, according to the original act of incorporation of this company, the verdict and judgment below are correct, the dividends being calculated on the capital stock paid in, and the sum due to the city by the 4th section of the charter being ascertained on that basis. The sums due the city for the years 1861, 1862 and 1863 were never paid by the company. These sums thus to be annually paid into the treasury of the city of Philadelphia for the use of the said city are not called taxes, but simply sums to be paid…
2Cited by1 opinion
- Commonwealth v. Lehigh Ave. Ry. Co.Supreme Court of Pennsylvania · 1889