by John Marshall Harlan

“ After the adoption of the Constitution of Florida of 1868, there could be no corporation created capable in law of accepting and enjoying such an exemption, for that was prohibited by the constitutional provisions that have been cited. In the case of the Pensacola & Louisville Railroad Company, 1872, the capacity at that time to receive this privilege depended altogether upon the legislative act amending its charter to that effect ”

“ The legislature of the state could not, after the state Constitution went into operation, have reinvested the old railroad company with such property, rights, immunities, or franchises, or have transferred them to a new corporation or to a consolidated railroad corporation created by the union of prior corporations, accompanied by an exemption from taxation that was inconsistent with the Constitution. ”

“ But where, as in the case at bar, specific land is granted to a railroad company to aid in the construction of a railroad, and is specifically exempted from taxation until sold by the company, and the company accepts, in consideration of the exemption, the exemption attaches to and follows the land. ”

“ In execution of the trust created by that act of Congress, the legislative assembly of the territory, by the above act of May 22d, 1857, incorporated the Minnesota & Pacific Railroad Company, investing it with all the powers, privileges, franchises, and immunities incident to a corporation, and empowering it to survey, locate, construct, maintain, and operate a railroad with one or more tracks or lines between certain named places ”

“ Every railroad company owning or operating any line of railway situated within or partly within this state shall, during the year 1905, and annually thereafter, pay into the treasury of this state, in lieu of all taxes and assessments upon all property within this state, owned and operated for railway purposes by such company, including the equipment, appurtenances, appendages, and franchises thereof, a sum of money equal to 4 per cent of the gross earnings derived from the operation of such line of railway within this state ”

“ The franchise to be a corporation remained in, and was exercised by, the old corporation, notwithstanding the mortgage of its charter, until the new corporation was formed and organized; it was then surrendered to the state, and by a new grant, then made, passed to the corporators of the new corporation, and was held and exercised by them under the constitutional restrictions then existing. ”

“ In the present case it is gratifying that there is a concurrence of views between this court and the state court upon the question whether the plaintiff in error, the Great Northern Railway Company, described by the state court as the 'successor in interest of all the prior companies,' was entitled, as upon contract, to claim the benefit of the 3 per centum gross earnings tax provision in the act of 1857. ”

“ Paul & Pacific Company was authorized to issue one or more classes of preferred stock, and to enter into agreements or contracts with the holders thereof for the administration of the portion of the road to which the stock might pertain, and for the independent organization by such holders to enable them separately or in conjunction with the general directors of the road to exercise supervision and control of their separate portion of the road. ”

“ The first payment shall be made on the 1st day of March next after 50 miles of said railroad shall be completed, and such payment shall be in lieu of all taxes and in full of all claims of the territory or state for the grant hereby made ”