The daily Argus. (Rock Island, Ill.) 1873-1877, 1876-05-08

this provision statute is not unconstitu-
tional which prescribes a different rule of
taxation for railroads from that of indi-
viduals.
6. Nor does it violate any provision
Of the constitution of the United States.
I. The capital stock, franchises and all
the real and personal property of corpora
tons are justly liable to taxation, and
rule which ascertains the value of all this
by ascertainIlg the cash value Of the
funded debt and of the shares of the
capital stack as the basis of the assess
ment, is probably as fair as any other.
8. Deducting this from the assessed
value OF all the tangible real aud personal
property which is also taxed, leaves the
real value Of the. capital stock and
franchises as subject to taxation as justly
or less imperfect
9. 1t is neither in conflict with the con-
stitution Of Illinois, nor inequitable, that
the entire taxable property OF the railroad
company should be ascertained by the
state board of equalization, and the state,
county and city taxes should be collected
within each municipality on this assess
ment in the proportion which the length
| of the road within such municipality bears
| to the whole length Of the road within the
state.
! To- The action Of the board of eaualiza,
| ton in increasing the assessed value of the
property Of railroad company or an indi-
vidual, above the return made to the
board, does not require a notice to the
party to make it valid. and the courts can.
not substitute their judgment as to such
valuation FIR that of the board
! IL. The supreme court of the state Of
Illinois having decided tnat the law com.
planned Of in these cases is valid under hel
constitution, and having construed TIE
statute, this court adopts the decision O
that court on the statute as a rule to bC
followed in the federal courts.
The opinion concludes as follows: 1t il
profitable thing for corporations or indl-
viduals whose taxes are very large to OBJ
tain a preliminary Injunction as to al
their taxes, and when in the end it is founC
that but a small part of the tax should b.
permanently enjoined submit to pay the
balance. This is not equity. 1t is in di
rect violation of the first principles o
say in the bill that they are ready an(
willing to pay whatever may be found due
They must first pay what is conceded t
be due, or what eau be seen to be due OIL
the face of the bill, or be shown by affida
Wits, whether conceded or not, before tn
preliminary Injunction should be granted
The state is not to be thus tied up as +
that of which there is no contest by lump
ing it with that which is really contested
! If the proper officer refuses to receive
part Of the tax, it must be rendered, an
rendered without the condition annexe
of a receipt in full for all the taxes as
sessed.
: We are satisfied that an observance G
this principle would prevent the large
part of the suits for restraining colectio
of taxes which now come into the court;
We lay it down with unanimity as rul
to govern the courts Of the United State
in their action in such cases Cooley o
Taxation, 537; Palmer VS.. Napoleon, !
Michigan, l1G; Hersey VS.. Supervisors,
Wisconsin, 1856; Roseberry VS.. Huff, >
Indiana, II; Frazier VS.. L:ebom, ID OH
State, GA; Parmley and others VS.. Til
Railroad companies, Dillon, -
But, if for no other reason, we should RI
verse the DEGREES of the circuit court i
these cases because the same question:
Involving tAg same considerations urge
e. unon Us here have been decided by III
: supreme court OF the state OF Illinois in
- manner which leads to the reversal
these. The cases referred to are those
: Samuel Il. Porter, county treasurer, al
h John Y. Cook. county clerk, vs.. Rucktor
d Rock Island 4 ST. i ,uis Railroad Con
@ pany, decided at the January term, 1877
=. and the subsequent case OF the Ch!cag
Il Burlington IL Quincy Railroad Compal
IT VS.. j. =. Cole and another, decided
G June, 1878. 10 these two cases all Il
+. presented to the court, and decided a.
- versely to the railroad companies. The
questions all grew out OF the validity al
lc the construction Of the tax law involved
the present cases, and out of the same {
NJ ton Of the board Of equalization. I
l. validity of the statute is not seriously OUT
70 toned here on the ground Of any conf
~ with the constitution Of the United STAT
ne If any such claim be set up it is suffice
20 TO say it is without foundation. As
n whole matter, then, concerns the valid
~ of state law as affected by the cOnstit
1o ton of the state that question and
90 other one Of the true construction Of Il
& statute belong to the class Of questions
or regard to which this court still holds, W
r. some few exceptions, that the decisions
90 the state courts are to be accepted as I
~ rule of decisions for the federal courts,
y 1t. is, nevertheless, a satisfaction, Il
no eur judgment concurs with that of
y state court, and leads Us to the same CT
of illusions.