Humphrey v. Pegues
Supreme Court of the United States
Error to the Circuit Court for the District of South Carolina; the case being thus: On the 16th of December, 1851, the legislature of- South Carolina, by “ an act to incorporate the Northeastern Railroad Company,”1 chartered the corporation now known by that name. This act contained no exemption of the company’s property from taxation, and by its terms was to continue in force for fifty years from the ratification thereof.
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Error to the Circuit Court for the District of South Carolina; the case being thus: On the 16th of December, 1851, the legislature of- South Carolina, by “ an act to incorporate the Northeastern Railroad Company,”1 chartered the corporation now known by that name. This act contained no exemption of the company’s property from taxation, and by its terms was to continue in force for fifty years from the ratification thereof. On the 19th of December, 1855, the same legislature passed another act, entitled “An act to amend the charter of the Northeastern Railroad Company, and for other purposes.”…
1Opinion of the CourtJustice Hunt
(having quoted the several statutes above given) delivered the opinion of the court.
The stockholders of the Cheraw and Darlington Company contend that the act of the 19th of December, 1855, entitled “ An act to amend the charter of the Northeastern Railroad Company,” &e., formed a part of the charter of the Northeastern Company in 1863, when the privileges conferred upon that company were granted to the Cheraw and Darlington Company.
The State contends that the privileges thus granted were limited to those conferred upon the Northeastern by its .original charter or act of incorporation, passed…
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