Commonwealth ex rel. McCormick v. Keystone Electric Light, Heat & Power Co.

Citations

• 193 Pa. 245
• 44 A. 326
• 1899 Pa. LEXIS 1109

Syllabus

<p>Corporations—Electric light, heat and power companies—.Reorganization —Act of May 25, 1878.</p> <p>Electric light, heat and power companies are manufacturing corporations within the meaning of the act of 1874, and its supplements. They are not exempt from a tax on their capital stock under section 20 of the act of 1885, because they are not within the policy of the legislature in passing that act, and it was not intended that they should share in its benefits. They are included, however, with other manufacturing corporations, in the Act of May 25, 1878, P. L. 145, and the purchasers at the sheriff’s sale of the franchises of such companies are authorized to reorganize as provided by that act.</p>