Joseph P. Bradley, Grant Collector v. Hartford and New Haven Railroad Company…
“ Indeed, his assessment is not for 'profits used in construction,' but for 'earnings used in constructing new Windsor Bridge, $55,712.60.' In this view he was decidedly wrong. Earnings expended on a new structure may or may not be profits. ”
Joseph P. Bradley, Grant Collector v. Hartford and New Haven Railroad Company…
“ If a railroad company should make a second track when they had but a single track before, this would be a betterment or permanent improvement, and, if paid out of the earnings, would be fairly characterized as 'profits used in construction.' The works of the company would have an additional value to what they had before, with an increased capacity for producing future profits. ”
