The Houston daily post. [volume] (Houston, Tex.) 1886-1903, 1901-05-24

Oh railroad corporations and vorlors main
~ rs unVe neen devised by which mo vaine
r. s sm,n property may be asccrtained, ami
u seems 10 us that II Ii had boon ma M
poss OF the legislature to tax TINS char
nuCt'f OF property separately from thar ~
b tme ralirond itself. a method would nave
he daaorr' uuu =" Wnlch such vaue Shout /
W W determined. Unless the property IN.
sIiueu as an entirety, this Is one reason
aple thing TO do. The physlcaj nronrrtv
U'i q railroad company is of comparatively
,ntile value except for the uses for wnirn
II Is acquired; It's so-cailed intScHio %ra,a
cry is OF no value without thp roitroa,t
anu Its equipment "''0"'
but article JOS' provides that ralroau
."H.AiilNh snail llSt their personal proncrtV
| IN the SAINT nanner ~ is nov rcnrt,.ed ~
citzehs OF this State This provision wns
nor Ill Inc original act, hut VAS iucornorn,
~ ~ ny an alnfnIment passed IN 1880 Amons
ny article DIS " the Revised statutes W.
nnd; AZ Every franchise and the de.
srnpt'on and Naluc thereof. Franchises
ene 1ehned TO be special privileges con
ielIcu nI the goveinm IN ind V.dua
ana which do not belong to the citizens o.
me country generally o. common right
,Ieople.s Railroad w Mcmrh.s Railroad,
10 Wall. 30 undcr this definition In seems
to MS that the orllnary franchises of
railroad corporation are the right 80 cxist
ana 10 transact business as n corporation
ana the right to condemn properly for is
uses. 1t would seem, therefore that II tho
ch!se at al, 1t Is merely the right Of cor.
rornte existence. For this franchise every
railroad company in this State is reQurel
10 pay to the secretary of state n f9c for
its charter and annually thereafter a tiA
proportlonate to the amount of rs capt.
tai stock upon penalty If forfeiture ot
corporate existence This seems to US
clearly Il tax upon that franchise. II not
what Is the value of such franchise when
any ten persons may. under the general
law or the state. procure such a charter
by filing with the secretary Of state ar
ticles of association, paving fee therefor
and complying with conditions not oncr.
GUS in their character?
But there Is another ground upon which
he held Illegal The assessment Is a T.
lows: The intangibl' personal property
, OF the said AuStd amt Northwestern H,u4-
road company within the State Of 'rrXls,
consisting of its right of way, privilege
immunities. good WILL contracts ana fran
chlse to do and carry on the business Of
ralroad company ms common carrier
Of freight and T. sscngcrs for hire value
NJ Wcution"l in article IilS. which 90 q
viles the manner and form of assessing
taxes. and sp5 once N Tue aMempt
scsSmrnt, Is the franchise. The staiut
however also provides for the assessment
Of other property not enumerated Bui 1t
was clearly the intention o. the legislature
to require that the list whether made
by the taxpayer or by the assessor, should
specifically cnumcratc the properties to he
assessed aud should hfhX thereto the scpa'
rate value Of each. We have seen that
If franchise is 10 be assessed. the list
must give the description and value there
". Con'cding, for the arguments sake
That franchise is described It's valno is
not separately stated Rights. privileges.
nmunitics, good will, contracts and fran
chlScs are valued AT q lump SUI j.
taxable at all, each specific article x'rop,
Prty Of the character In question ~.ould
he valued by itself But beyond all this
we know Of no law for assessing for taxa