South-Western Railroad & Banking Company. v. Georgia

92 U.S. 676

SOUTH-WESTERN RAILROAD & BANKING COMPANY.

v.

GEORGIA.

October Term, 1875

1

What we have said in Central Railroad & Banking Company v. Georgia, is applicable, in its largest extent, to the present case. It appears from the record that the South-western Railroad Company, chartered in 1845, with an exemption from taxation beyond one-half of one per cent of its annual net income, was united with the Muscogee Railroad Company, a company entitled by its charter to a similar exemption. The union was effected under an act of the legislature, approved March 4, 1856, the effect of which was to…