Cumberland Pipe Line Co. v. Lewis

ANDREW M. J. COCHRAN, District Judge.

This is a three judge ease. The interlocutory injunction sought is, in the main, to restrain the enforcement of the assessment of plaintiff’s franchise for taxation for the year 1924, made April 29, 1925, as of date December 31,1923, under section 4077 et seq., Kentucky Statutes.

The procedure followed was that required by section 4079. The value of plaintiff’s capital stock was first fixed. The assessed value of its tangible property was then deducted from such value; and the remainder was the sum at which plaintiff’s franchise was assessed. The value at…