Protest of St. Louis-S. F. Ry. C.

This is an appeal by the protestant from a judgment of the Court of Tax Review dismissing a protest as to two certain tax levies made by the excise board of Custer county for the fiscal year commencing July 1, 1931.

[One of the levies protested was for the county sinking fund and 2.363 mills thereof was protested on the theory that that amount thereof was excessive and void for the reason that the excise board refused to consider the sum of $68,136.20 cash on hand in the sinking fund in determining the amount necessary to be raised by ad valorem taxation for sinking fund purposes.

It is…