The Goodland republic. [volume] (Goodland, Kan.) 1891-1907, 1902-10-03
Partial VICTORY
Railroads Do Not Escape Entirely
Unscathed IN Court
SYLLABUS IN THE CASE
Decision Rendered By Chief Justice HoI-
comb f. = Lengthy One-EarnIngs
and stock Values are Elements
showing Real Value

The supreme court Of Nebraska has
handed down its decision in the man
damus suit brought to compel the state
board Of equalization to as sess the
franchises, etc. Of the railroads.
As Judge HOlcOmb once occupied a
position on the state board Of eQualiza-
ton, he was supposed to be more IA
miliar with the subject than any other
member Of the bench.
We cannot escape the conclusion
says the court, that both the tangible
and intangible property Of the railroad
companies were in fact assessed as one
property or one unit" Earnings,
franchises. stocks and bonds are desig-
mated as property to be considered
The two principal questions eOnsid-
cred by the court were as follows:
Has the board failed to assess property
which under the law il is its duty to
assess Second, in making the assess
meRt has the board acted fraudulently
in valuing such properties for assess
ment and for that reason rendered
void the action taken In effect the
court finds that franchises and all in
tangible property must be and were
assessed by the board; that the trans
action. was not tainted with fraud;
that the board is clothed with quasi
judicial powers as TO the valuation
Of such property and when il has act
ed on sufficient information and ex-
pressed an hOSest judgment as to such
value, its judgment cannot be con-
trOlied by the writ Of mandamus-
fol- 50 ha 1TuFn 81 he
case:
I. Pleadings construed and held to
present an issue Of fraud in regard TO
the manner Of making the assessment
complained Of.
2 II is the duty Of the state board
Of equalization to value and assess for
purposes Of taxation, all railroad and
telegraph properties of all kinds with
in the state, with the exceptions men
toned in sections 80 and 40 Of the
revenue act
3. In assessing property for taxa
ton the dominant idea Of the organic
law. is that needful revenues shall be
raised by levying a tax on property
by valuation, in such manner that
every owner Of property subject to
taxation shall pay taxes In proportion
10 the value OF the property owned
3. The word property" as used in
the constitution is a generic term and
includes all property OF whatsoever
description whether tangible or in
tangible.
5. While the revenue act provides
for the assessment for tax purposes Of
all property at its fair cash value. the
court will take judicial notice Of the
fact that for general revenue purposes
the standard Of value generally prevail
ing is far below the actual cash value
Of the property assessed.
8. In Observing the constitutional
rule Of uniformity. property which es-
capes taxes altogether can not be
taken into account in determining the
standard Of valuation Of property &C
tually listed, returned or assessed, on
which taxes are levied
Z. The state board Of equalization,
in the assessment Of railroad and tele-
graph properties should include in its
assessment the value Of the franchises
with the tangible property assessed
8. In the assessment Of railroad and
telegraph property, the state board Of
equalization may consider not only
the returns required to be smade by
sections 80 and 40. but also other in
formation Of a reliable character OBJ
tainable which may tend TO establish
sessed-
9. The provisions Of section 90. Of
the revenue act, requiring the assess
ment of the capital stock Of the cor
pOratiOns named therein, at its actual
value, after deducting therefrOm the
value OF the real estate and other per
sOnal property Of such corporation as
sessed as such, are not applicable to
the assessment made by the state board
Of equalization, Of the properties Of
railroad and telegraph companies
10. Sections 80 and 40 Of the revenue
act embrace the legislative plan and
method Of assessing railroad and tele-
graph property which are complete
within themselves and capable Of en-
fOrcement Independent Of the prOvi-
siOns of section 81
II. In assessing railroad and tele-
graph property, il is the duty Of the
state board Of equalization to secure
all reasonable and necessary reliable
information relative TO the value Of
the entire property Of each corpora
ton assessed and assess such property
as a unit or as one property
y. In determining the value Of the
property assessed, il is the duty Of
the board to consider all factors hav-
ing the elements Of property, whether
tangible or intangible. which enhance
the value Of the corporate estate. and
value such property for assessment
purposes so that the valuation placed
thereon shall harmonic with the con-
stitutional rule Of uniformity.
13 Where railroad and telegraph
properties are situated in more than
one state, il is necessary to consider
and determine the value Of the whole