Continental Passenger Railway Co. v. Philadelphia Rapid Transit Co.

Citations

• 263 Pa. 564
• 107 A. 390
• 1919 Pa. LEXIS 476

Syllabus

<p>Lease — Covenant to pay taxes assessed on real estate — Taxation, dividends, earnings, etc. — Federal income tax — War excess profits tax — Street railways — Corporations.</p> <p>A covenant in a lease of a street railway to pay and distribute among the stockholders of the lessor a certain amount per annum on each share of stock, and also to pay “all taxes......assessed on tbe said real estate, franchises, stock, dividends, earnings and license fees on each car,” does not include any taxes assessed against the lessor, such as the federal income tax, and the war excess profits tax.</p>