Pacific Railroad v. Maguire
Supreme Court of the United States
Error to the Supreme Court of Missouri, the question involved'having been the right of a tax-collector of the State of Missouri to levy a tax authorized by an ordinance of the State named, on the property of the Pacific Railroad Company, a corporation incorporated by the said State.
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Error to the Supreme Court of Missouri, the question involved'having been the right of a tax-collector of the State of Missouri to levy a tax authorized by an ordinance of the State named, on the property of the Pacific Railroad Company, a corporation incorporated by the said State. The, ease was thus: By an act of March 12th, 1849, the railroad company was incorporated, as already mentioned, with a capital of $10,000,000,. for the purpose of building a rail toad across the State, from the city of St. Louis, on the eastern line of the State, to a point indicated in the western line. Authority…
1Opinion of the Court
*42• Mr. Justice HÜNÍ
delivered the, opinion of the court.
'The first question is this: By the acts organizing this company, 'and by the acts loaning the credit of the State and'the proceedings under the same, was an agreement cre- . ated on the part of the State that the Pacific road should ‘not be taxed until.it was builtand finished and had declared-a dividend,- and that for two years after it was finished it should be liable to taxation only in common with other property of the State and at the same rate ?
'The fight, of taxation is a sovereign right, and presumptively beloijgs to the State in…
2Cited by19 opinions
- Hughes v. State of OregonOregon Supreme Court · 1992
- McBride v. Allegheny County Retirement BoardSupreme Court of Pennsylvania · 1938
- State v. Chicago & Northwestern Railway Co.Wisconsin Supreme Court · 1906
- In Re Assessment of First Nat. Bank of ChickashaSupreme Court of Oklahoma · 1916
- Wilmington & Weldon Railroad v. AlsbrookSupreme Court of North Carolina · 1892
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