New Orleans City & Lake Railroad v. City of New Orleans

*1054The opinion of the court was delivered by

Breaux, J.

The plaintiff company; through its secretary, made its return to the Board of Assessors of its property.

The franchise of the road was returned at its original cost, less seven years which had elapsed; in other words, the franchise haying been granted for twenty-five years, the original cost was divided by that'number, and the plaintiff, assuming that the quotient was the value of each year, deducted the value for the years elapsed, and returned the remainder as the value of the franchise unexpired.

On this theory there was…