Page:Federal Reporter, 1st Series, Volume 2.djvu/894

 WILLIAMS r. BBES. 887 �in the fifth line of that section, as printed in the Eevised ■ Statutes, while gas companies are still described as one of the classes of corporations whose capital stock is to be valued and assessed by the board of equalization. I think it clear, iherefore, from the manner in which the amendment is made, that the legislative intention was to require gas companies to make retums of their capital stock for assessment by tha board of equalization. In other words, the legislature did not intend to include gas companies in the class of corpora* "tions "organized for purely manufacturing purposes, " whose "property shall be assessed by the local assessors in like manner as the property of individuals is required to be as- sessed." �I have no doubt the purpose of the legislature was to ex- «ept manufacturing companies, other than gas companies, from a capital-stock tax, and to continue to impose a capital- stock tax on gas companies ; and this brings me to consider the second proposition — the constitutionality of the law under consideration. �Section 1, art. 9, of the constitution of this state is as fol- lows: �"Section 1. The general assembly shaU provide such rev- enue as may be needful, by levying a tax by valuation, so that every person and corporation shall pay a tax in propor- tion to the value of his, her or its property, such value to be ascertained by some person "Xir persons; to be elected or ap- pointed in such manner as the general assembly shaU direct, and not otherwise ; but the general assembly shall have the powertotaxpeddlers, auctioneers.brokers, hawkers, merchants, commission merchants, showmen, jugglers, innkeepers, grocery keeper s, liquor dealers, toll-bridges, ferries, insurance, telegraph and express interests or business, vendors of patents, and per- sons or corporations owning or using franchises and privi- leges, in such manner as it shaU, from time to time, direct by general law, uniform as to the class upon which it operates." �It will be seen that the legislature is clothed with full power, to be exercised in its discretion, as to the manner in -which persons or corporations owning or using franchises ����