People Ex Rel. New York & Albany Lighterage Co. v. Cantor

Sections 209 and 210 of the Tax Law (Cons. Laws, ch. 60) impose a franchise tax upon every domestic mercantile and manufacturing corporation except certain corporations specifically enumerated. Corporations so taxed are relieved from all further taxes on personal property or on capital stock. (Sec. 219J.) If excepted, however, a corporation is taxable under section 12. Among such latter corporations are “ every corporation * * * formed for steam surface railroad, canal, steamboat, ferry * * * express, navigation, pipe line, transfer, baggage express, telegraph, telephone, palace car or…