Mobile & Ohio Railroad v. Moseley

Citations

• 52 Miss. 127

Syllabus

<p>1. Railuoad : Charier thereof. Exemption from taxation.</p> <p>An exemption from taxation contained, in the charter of a corporation organized under it is irrepealable and inviolable.</p> <p>:2. Same : Case in judgment.</p> <p>The charter of appellant contained a provision that no tax should be levied upon its road until it was paying eight per cent, on its cost, etc. A largo body of land was donated by Congress to the state for the purpose of aiding in the building of a road from Chicago to Mobile. These lands were afterwards granted by the state to appellant, which claims exemption for them also under the same provision. Held,-that under the charter all the real and personal property of every sort, necessary to and used in the actual business of the company as a common carrier, is exempt from taxation, and that this exemption can only be met by proof that the portion of the road located in this state has annually earned a sufficiency to pay the required rate of interest; but that the company took the detached lands as any other citizen of the state, subject to the exercise of the taxing power, and does not occupy such a position toward them as inhibits the levy of a tax upon them in the same manner and for the same purpose that other lands are taxed.</p> <p>-3. Taxes : Injunction to restrain the collection thereof.</p> <p>The general rule is that, when a portion of a tax sought to be enjoined is legaLy due, a bill of injunction will not be entertained unless the portion properly collectible is paid or tendered.</p>