In re Assessment of Taxes, Wailuku Sugar Co.

OPINION OP THE COURT BY

HARTWELL, C.J.

The property of the company returned by'it at. $1,700,000, was assessed at $2,380,000, and valued by the tax appeal court at $2,000,000. The assessor appeals from that valuation. The board of equalization took from the stock quotations the prices hid for the shares, namely, $275 a share for the old issue of 7000 shares, and $3 50 a share for the new issue of 7000 shares, and, deducting twenty per cent., arrived at the valuation of $2,380,000, acquiesced in by the assessor who testifies that he also considered other matters such as net profits, gross…