Central Railroad & Banking Co. v. Wright

Syllabus

<p>Section eighteen of the act of the legislature of Georgia of December 14, -1835, providing that no municipal or other corporation shall have power to tax'the stock of the Central Railroad and Banking Company of Georgia, but may tax any property, real or personal, of said company within the jurisdiction of said corporation in the ratio of taxation of like property, when construed in connection with other legislation on that subject, permits municipal corporations to tax such property within their respective jurisdictions in the ratio of taxation of like property.</p> <p>While, in the absence of any words showing a different intent, an exemption of the stock or capital stock of a corporation may imply, and carry with it, an exemption of the property in which such stock is invested, yet, if the legislature uses language at variance with such intention, the courts, which will never presume a purpose to exempt any property from its just share of the public burdens, will construe any doubts-which may arise as to the proper interpretation of the charter against the exemption.</p>