“ Our conclusion is that the assessment against the railroad is unreasonably discriminatory in so far as it is based on personal property, and in this respect violates the equal protection clause of the Fourteenth Amendment, and that it is otherwise so excessive as to be a manifestly arbitrary exaction and in violation of the due process of law clause of the same amendment. ”

“ The modes in which the assessors arrived at the amounts assessed were not shown on the assessment roll or communicated to the Legislature; so the question of discrimination must be determined independently of the theories and processes of the assessors, as if the assessments were made directly by the Legislature.
Most of the testimony is addressed to the questions whether and how far the railroad will be benefited by the intended improvement of the parallel public road. Some witnesses are of opinion there will be no benefit, and a few that there will be great benefit. ”

“ From all the testimony we think there is ample ground for believing that the improved road will lead to an increase in the traffic and revenue of the railroad, as respects freight moving in carload lots and passengers traveling considerable distances, but that the benefit from this will be cut down by a substantial loss in local freight and passenger traffic attracted to motordriven vehicles moving over the improved road. ”