Railroad Companies v. Gaines
Supreme Court of the United States
ERROR to the Supreme Court of the State of Tennessee. This was a suit in equity commenced in the Chancery Court of Davidson County, Tennessee, by three railroad companies, the Memphis and Charleston Railroad Company, the Mobile and Ohio Railroad Company, and the Knoxville and Charleston Railroad Company, plaintiffs in-error, to restrain the defendants, who are officers of the State, from assessing and collecting taxes upon the property' of the several corporations, under the…
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ERROR to the Supreme Court of the State of Tennessee. This was a suit in equity commenced in the Chancery Court of Davidson County, Tennessee, by three railroad companies, the Memphis and Charleston Railroad Company, the Mobile and Ohio Railroad Company, and the Knoxville and Charleston Railroad Company, plaintiffs in-error, to restrain the defendants, who are officers of the State, from assessing and collecting taxes upon the property' of the several corporations, under the provisions of “ An Act declaring the mode and manner of valuing the property of a railroad company for taxation,”…
1Opinion of the CourtChief Justice Waite
The claims of the several corporations will be considered separately, and in the order they are presented by the record.
I. THE MEMPHIS AND CHARLESTON RAILROAD COMPANY.
1. As to the extent of the exemption contained in the original charter.
Under this branch of the case the company claims that the exemption of the capital stock from taxation is equivalent to an exemption of the property purchased with or represented by the capital, and there are undoubtedly many cases to be found in this and other courts where it has been held that an exemption of the capital stock of a corporation from taxation…
2Cases cited4 opinions
- Jefferson Branch Bank v. SkellySupreme Court of the United States · 1862
- Morgan v. LouisianaSupreme Court of the United States · 1876
- Bridge Proprietors v. Hoboken Co.Supreme Court of the United States · 1864
- Humphrey v. PeguesSupreme Court of the United States · 1873
3Cited by25 opinions
- New Orleans Waterworks Co. v. Louisiana Sugar Refining Co.Supreme Court of the United States · 1888
- Tennessee v. WhitworthSupreme Court of the United States · 1886
- Wilmington & Weldon Railroad v. AlsbrookSupreme Court of the United States · 1892
- Tennessee v. WhitworthSupreme Court of the United States · 1886
- Bank v. TennesseeSupreme Court of the United States · 1882
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