State v. Norwich & Worcester Railroad
Supreme Court of Connecticut
Debt, to recover taxes claimed to be due to the state from the defendants, under the 24th section of the statute of 1851, with regard to taxation, which provides that every railroad company shall pay an annual tax to the state of one third of one per cent on the market value of its stock. The case was tried in the superior court, on the general issue closed to the court.
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Debt, to recover taxes claimed to be due to the state from the defendants, under the 24th section of the statute of 1851, with regard to taxation, which provides that every railroad company shall pay an annual tax to the state of one third of one per cent on the market value of its stock. The case was tried in the superior court, on the general issue closed to the court. The defendants were incorporated by the legislature of this state in the year 1832, by a close charter, under the name of the Boston, Norwich and New London Railroad Company, with a capital of $1,000,000—the 17th section of…
1Opinion of the CourtButler, J.
It appears from the finding and the resolutions referred to, that the corporation defendant was organized in *2941832, under a special charter, with a capital of $1,000,000, by the name of the Boston, Norwich and New London Railroad Company, and by the 17th section of its charter it was provided that the capital stock of the corporation should be and remain free from taxation, until the tolls collected by the company should be sufficient to afford a dividend of six per cent per annum on its capital stock.
In 1836 the corporation was united with a similar one incorporated by the legislature of…
2Cases cited1 opinion
- Ward v. Griswoldville Manufacturing Co.Supreme Court of Connecticut · 1844
3Cited by2 opinions
- Smith v. DanaSupreme Court of Connecticut · 1905
- Nichols v. New Haven & Northampton Co.Supreme Court of Connecticut · 1875