The Caucasian. (Clinton, N.C.) 188?-1913, 1892-03-10

TN contends that II has the right,
| should il see Ei;, to parallel every
tax-paying railroad in the State,
now or hereafter to be built, with
its non-saxable branches. This is
far removed from the 100 miles of
railway from Wilmington TO Raj
eigh and its modest capital Of $780,
| 900 as contemplated in the charter.
A claim so vast and comprehensive
challenges attention and coInpels
scrutiny.
We do not think that the claim
thus put forward is plain beyond
a reasonable DOUBT" nor upon any
fair reasonable construction Of the
terms of its charter.
The charter as originally granted
was for the construction of a rail-
road from Wilmington to Raleigh,
distance somewhat over one hun
dred miles, with capital stock of
100000. An act passed in 1885
authorized change of terminus TO
"some point on the Roanoke river"
and an increase Of the capital stock
to $l,500,OO0, and the road was
: accordingly built to Halifax, l54
, miles, and thence by the acquisition
of the Halifax & Weldon railroad,
, it was extended to Weldon, a dis
,, lance of 1862 miles from Whining
ton. 1t also authorized the COM
pany, as a part of its business, to
own and operate steamboat lines
and other vessels to Charleston cor
elsewhere" and makes other impor-
tant changes. This amendatory act
contains no exemption from taxa
ton. The question whether the
radical change in the location, direc-
: ton and length Of the proposed rail-
= road was not in effect new char
ter and its acceptance a release
from the exemption from taxation
> contained in the "original charter"
(as it is termed in the amendatory
: act) is question which was not pre-
: scented in the case of Wilmington &
Weldon Railroad Co. VS.. Reid,
quoted as above and it is not neces-
= sary that we now consider It. In
Ii deed we are aware that different
i inference might be drawn from Rail
= road VS.. Commissioners, 88 n. c.,
u $40, but the learned judge who
d wrote that opinion based it on the
/ ground that when the case of w
e., & w. R.. R. Co. VS.. Reid, 13 Wall
u 264, was decided, sit was not sug
II gested" that this radical alteration
& did not revoke the exemption. /
> might seem perhaps more just t.
{ say that the point, not having beer
'e presented, was 'res non judicata.
u That case { Railroad VS.. Reid) wa
Z" decided in this court by Pearson
G.. j., on the ground that the ex
* emption was not broad enough t
'e cover the franchise, and the rever
K sal in the U. S. Supreme Court wa
u directed to that view of the case
re this other not having been raised
oe 1t is very certain that, by many &C
IL Indications, so radical change {
~ route would have released subscriE
L. tions made to the original compan
te and it would hardly seem reason
nc able that the legislature meant t
III confer upon the corporation til
Is right to a perpetual exemption fror
~ taxation of any number of lines b
10 sea as we'll as by land, or to SAM
ny ton an exemption for the large az
&C dition to the capital stock and
ne the length of the road without a
IT, express exemption from taxation {
lis such addition. Scovill rs. Thaye
rs lO5 U. S. 14S; l Morawitz Sc
Mt 434, 447, 452. And if there wa
OF in effect (by the Act of 1850 ne
w. corporation, the exemption fro
ry taxation ceased since it is not e:
Ms pressly conferred. Morgan V
lo- Louisiana, SO U. S. 2l7; Ches
IL R. VS.. Miller, ia U. S. l76.
~ ~. We do not however deem it e
~: sential to discuss this further,
a+a the question before us may be d
~ :. termined upon the words of Il
- original charter. In that A
(1833) the first 20 sections a
- taken up with provisions for t
~ main line from Wilmington to RI
- eigh. The 2lst section gives authe
'nv ity to open books of subscription
w.: construct branch roads, such 81
scription not to exceed 100000
, "a and to be applied exclusively to t
w. construction of such branch roa'
' s Sections % and % are as +
=. lows:
,cb %. "Be it further enacted Il
inc all the powers, rights and privilel
her conferred by the preceding sectit
ION. upon the said company, in resp
ods to the main road and the lal
cted through which it may pass,
Its hereby declared to extend in ev'
the respect to the said company and
tied President and Directors thereof
@ha 1ov;no f,ut- in the construct