People ex rel. Central Hudson Gas & Electric Co. v. State Tax Commission

In the opinion of the court written by Mr. Justice Kellogg it is stated: “ It seems to me that the special franchises of the relator should not be valued at a greater stun than such proportion of the capitalized net earnings attributable to wires carrying current in a given town as the length of the wires over public ways bears to the total length of all such wires in such town.” (218 App. Div. 44, 60.)

It is urged that the opinion does not clearly indicate the manner in which the total intangible value should be distributed to the various tax districts and that the opinion is susceptible of…