Railroad Co. v. Maine
Supreme Court of the United States
Error to the Supreme J udicial- Court of the State of Maine. An act of the legislature of Maine, passed in 18X4, provides for a tax upon the corporate franchise of every railroad company in that State, at the rate of one and^one-half per cent upon, its estimated value, ■ determined in this wise: The governor and council of the State are each year required to ascertain the true market value of its shares, and estimate therefrom the fair cash valuation of all the shares'…
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Error to the Supreme J udicial- Court of the State of Maine. An act of the legislature of Maine, passed in 18X4, provides for a tax upon the corporate franchise of every railroad company in that State, at the rate of one and^one-half per cent upon, its estimated value, ■ determined in this wise: The governor and council of the State are each year required to ascertain the true market value of its shares, and estimate therefrom the fair cash valuation of all the shares' constituting its capital -stock, on the first day of the preceding April. Erom this valuation are to be deducted the' value…
1Opinion of the Court
Ms,. Justice Field,
after stating the facts, delivered - the opinion of the court.
The principal question for. our determination is whether-the conditional and limited taxation, to which the two original companies first consolidated wer¿ subjected, is extended to the present corporation defendant after its second consolidation.’ As the act of 1856, authorizing the first-consolidation, conferred upon the new corporation “ all the powers, privileges, and immunities ” possessed by each of the consolidating c impanies, and the act of 1873, by reference, adopts'the same provisions, it is contended…
2Cases cited5 opinions
- Minot v. Philadelphia, Wilmington & Baltimore RailroadSupreme Court of the United States · 1874
- New Jersey v. YardSupreme Court of the United States · 1877
- Tomlinson v. JessupSupreme Court of the United States · 1873
- Central Railroad & Banking Co. v. GeorgiaSupreme Court of the United States · 1876
- Chesapeake & Ohio Railroad v. VirginiaSupreme Court of the United States · 1877
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- Sinking-Fund CasesSupreme Court of the United States · 1879
- Pulllman's Palace Car Co. v. Missouri Pacific Railway Co.Supreme Court of the United States · 1885
- Union Pacific Railroad v. United StatesSupreme Court of the United States · 1878
- Greenwood v. Freight Co.Supreme Court of the United States · 1882
- Keokuk & Western Railroad v. MissouriSupreme Court of the United States · 1894
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