(DOWNLOAD) "Trask v. Maguire" by United States Supreme Court " eBook PDF Kindle ePub Free
eBook details
- Title: Trask v. Maguire
- Author : United States Supreme Court
- Release Date : January 01, 1873
- Genre: Law,Books,Professional & Technical,
- Pages : * pages
- Size : 59 KB
Description
Messrs. B. R. Curtis and Drydens, for the appellant: That the property of the original corporation was exempt from taxation is undeniable. It is nearly or quite as clear that if the purchaser at the sale which was made had been a private person, or a corporation–any purchaser other than the State–such purchaser would have held what he bought, equally exempt. The lien of the mortgage was 'on the road of the company, and every part and section thereof, and its appurtenances.' That by the word appurtenances it was meant at the time that all rights, franchises, privileges, and immunities should pass under the lien is hardly questionable. In any but a purely technical sense–the sense in which the word is used in a deed–appurtenances would certainly include them. They would certainly do so alike in the popular and in the legislative sense, and these are the only important senses to be considered here; for the transaction was between managers of a railroad and a body of legislators. The State expected to get and the road meant to give as a security all that it had. Why retain an immunnity from taxation when 'the road and every part and section thereof, and its appurtenances,' were put in mortgage and liable to be gone? Of what use would the immunity be when there was no property to which it could apply? Further than this, there would be ground to argue that in a stricter sense the word appurtenances would include the immunity.3