Ellis v. W. A. Handley Mfg. Co.

This case was tried upon an agreed statement of facts, and the only point made by the appellee against the assessment is that, in ascertaining the actual amount of property employed in. this state, the total value of the lands, machinery and buildings should not be considered as a basis. In other words, that there is an existing mortgage indebtedness on the plant and the amount of same should be deducted from the value of the plant. The Act of 1919, § 16, p. 291, was passed pursuant to section 232 of the Constitution of 1901, dealing with foreign corporations, and which authorizes a franchise…