Commonwealth v. Nashville, C. & St. L. Ry. Co.
| Decision Date | 25 October 1892 |
| Citation | 20 S.W. 383,93 Ky. 430 |
| Parties | Commonwealth v. Nashville, C. & St. L. Ry. Co. |
| Court | Kentucky Court of Appeals |
Appeal from circuit court, Franklin county.
"To be officially reported."
Action by the commonwealth against the Nashville, Chattanooga & St Louis Railway Company to recover certain taxes. Judgment for defendant. Plaintiff appeals. Reversed.
It appears by the agreed facts in this case that by an act of the legislature of this state the Hickman & Obion Railroad Company was incorporated in 1854, that section 24 of said act provided "that all persons residing in this state, and owning stock in said road, shall give said stock in for taxation under the equalization laws of this state from and after the completion of the road, but no further tax shall be imposed on said company or road;" that the said road was thereupon partly constructed by the Hickman & Obion Company that afterwards said road was leased to and consolidated with the Nashville & Northwestern Railroad Company. By the agreements of November 13, 1855, and of January 19, 1856 (the latter supplemental only,) the Hickman & Obion road leased to the Nashville & Northwestern Railroad Company for the period of 1,000 years the exclusive right of transporting and conveying passengers and freight over its said road together with the depot grounds, roadbed, bridges, culverts materials, privileges, and its assets after the payment of its debts; the latter to be used by the said Nashville & Northwestern Railroad Company in the completion of the said Hickman & Obion road. The 50,000 coupon bonds issued to the Hickman & Obion Railroad Company were transferred to the Nashville & Northwestern Railroad Company, and that company issued its own stock to the Hickman & Obion in lieu thereof. Also any other stock due the stockholders of the Hickman & Obion Company was to be surrendered, and stock issued for it in the name of the Nashville & Northwestern Company. Also the Hickman & Obion Company was not required to keep up its organization longer than was necessary to settle its indebtedness. All of its rights and privileges were completely merged in the Nashville & Northwestern Company. And the consideration for all of this was that the Nashville & Northwestern Company was to complete the Hickman & Obion road within a specified time. Thereafter, by a proceeding in the chancery court for Davidson county, Tenn., foreclosing a mortgage that the state of Tennessee held on the Nashville & Northwestern Company, the said road, including the lease, was sold, and certain persons bought it, which sale was confirmed; and thereafter they sold the road and lease to the appellee, the Nashville, Chattanooga & St. Louis Railroad...
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County of Traverse v. St. Paul, Minneapolis & Manitoba Railway Co.
...the Great Northern Railway Company, and hence the lands are subject to taxation. For authorities that the transaction is a sale, see Com. v. Nashville, supra; State v. Winona & St. P.R. Co., 21 Minn. St. Paul & C.R. Co. v. McDonald, 34 Minn. 195; County of Brown v. Winona & St. P.L. Co., 38......
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Nashville, C. & St. L.R. Co. v. Commonwealth
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