Raleigh & Gaston Railroad v. Reid
Supreme Court of the United States
In the case just above adjudged and reported, the property of the railroad company could not by its charter be taxed under any circumstances. In the case of the charter of the railroad company now under consideration the exemption was limited to a term of fifteen years.
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In the case just above adjudged and reported, the property of the railroad company could not by its charter be taxed under any circumstances. In the case of the charter of the railroad company now under consideration the exemption was limited to a term of fifteen years. After this limitation expired the legislature was at liberty to tax the individual shares of the stockholders whenever their annual profits exceeded 8 per cent., provided that the tax did not exceed twenty-five cents a share per annum. The pleadings in the case showed that the annual profits on the shares never reached 8 per…
1Opinion of the CourtJustice Davis
The only way in which the property of this company could be reached for taxation at all was after the limitation of the fifteen years had expired. The legislature was then at liberty to tax the individual shares of the stockholders, whenever their annual profits exceeded 8 per cent. When a statute limits a thing to be done in a particular mode, it includes a negative of any other mode. It was the manifest object of the legislation which incorporated this company to invite the investment of capital in the enterprise of building this road; and no means better adapted for the purpose could have…
2Cited by68 opinions
- Christensen v. Harris CountySupreme Court of the United States · 2000
- Botany Worsted Mills v. United StatesSupreme Court of the United States · 1929
- Longview Fibre Co. v. RasmussenCourt of Appeals for the Ninth Circuit · 1992
- Mobile & Ohio Railroad v. TennesseeSupreme Court of the United States · 1894
- David v. Yarborough v. United StatesCourt of Appeals for the Fourth Circuit · 1956
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