The Pacific commercial advertiser. [volume] (Honolulu, Hawaiian Islands) 1885-1921, 1897-02-20

of the constitutions because good will and other elements
directly entered value The market value property
is what it will bring when sold such property ordinarily
sold in the community where it situated; and the fact
that is its market value be questioned because atrb
uted somewhat good will franchise, sfm of
the property, any other legitimate agency
In consequence this decision Judge Taft reversed
his decisions upon demurrer above mentioned and sustained
the validity OF the law without however stating whether he
convinced of the of the reasoning of the Ohio
and upon further hearing upon the question of fact
whether the had followed the construed
the Ohio he held that they had kept we'll within the
law See Sanford I. Poe 90 Fed. II. 546 547 On appeal
however, the express company ease
Appeals consisting of another Circuit Judge District
Judges the followed the Supreme Court of Ohio with
the approval And upon the question whether it
made difference that the property express company
mainly personal property and did form continuous
line in the of railroad company, said: The
value of property depends large degree upon the
which 1t put If railroad may be valued at unit rather
than given number of of land plus many of
rails and many thousands and certain number of de-
pots shops, there sufficient why the property
OF an express should not be treated unit plant
: That an express company line of railway,
and operates railroad does the value of Its
property from being affected by the relation part
other and the which part put factor
IN The same court decided the same way ON
the appeal in the of the telegraph company Western In
T Co e. Poe, 90 Fed Rep further appeals the
Supreme Court of the United States, the decisions the
Court of Ohio and the Circuit Court of Appeals
sustained II we may rely ON teegraphe communication to
this effect dated the 1 of this month and published in the San
Francisco papers received The following decisions
of the Supreme Court of the United States also hold the
way under somewhat similar statutes Pittsburgh Co. u
Bdckus ia T. S. 421, and CtcredHd Bdcns 1b 439
railroad under Indiana statute; Western
Taggart 1853 e. S. 1, telegraph case Indiana
statutes and P"hnans Palace Car Co Pennsylvania, 14l
T. S. IS, under Pennsyl statute the
pay running It's through the United States but
ing the railroads which they
We therefore hold, against the contentious the
plaintiff that under the present in vang combined
property as whole not only the earnings and in the
OF corporations the market value of the stock be taken
into consideration, but that these very important
to be considered and furnish in the best datum
start from also that the of production of the several
parts Is not the proper test OF the value of such combined prop
ey when it consists chiefly manufactured personal
property From this it follows that the by
plaintiff be sustained Whether assessment made by
the and sustained by the appeal
is but whole we are of the opinion
that disturb the US IT is true
the earnings and the value of the stock should not be
taken the conclusive the prop
and that required by the facts
considerations which reasonably and fairly bear upon
tom should "be taken into consideration But in
the assessor took INTO consideration various other matters be
sides the earnings and the value
plaintiff unable the hearing before appeal court
although the attempt made, to show that the
omitted to consider anything that necessarily would have led
a different result
There considered question of the admiss
bty of evidence Plaintiffs counsel asked the assessor
witness low generally have you assessed Hawaiian corpor
atons by multiplying capital stock by the market value
thereof and deductng fifteen
The court daowed the question incompetent and rree
Plaintiffs counsel contends that because
If the rule had not been generally applied the
would have been nvadaed the ground of inequality
Determinations First Nat Bank Lindsey Fed r. 619
at bar that it cannot be regarded authority in support of
the contention made The obliged to follow
the all As above decided the
market value of the stock could be made the sole
The main question this whether
ment OF the plaintiffs property and if could be
proved that the did follow the
this would show that he did follow right
In this that he did follow the right
much less that he guilty of dcrmn-
alton
The decision of the appeal court is sustained and the
appeal dismissed
Kinney d Balion for plaintiff.
ThwstOn d StaaIey for defendant.