Oahu Railway & Land Co. v. Shaw

OPINION OP THE COURT BY

JUDD, C.J.

In this case the value of the leaseholds of the lands of Honouiliuli, Kahuku, Waimano and Waiawa, Oahu, held by the Oahu Railway & Land Company is in dispute. The company returned their leaseholds as worth nothing. The Tax Assessor placed the ■value at $10,000, and this was affirmed by the Tax Appeal *211Court. The company appealed to this Court. The lease of the lands of Honouliuli and Kahuku have forty-three years of the term unexpired and the company pay an annual rental of $40,000, and, having sublet portions of the land, receive as rentals some $3,000 more…