Page:Federal Reporter, 1st Series, Volume 3.djvu/276

 L. & N. B. CO. r. OAINBB. 269 �roads. By virtue of this purchase, complaînant Bucceeded to ail the rights, privileges, and immunities appertaining to the franchises of the road so sold to it under its act of incorpora- tion and amendments thereto. �From the foregoing it will be seen that the Tennessee & Alabama Eailroad Company was vested with ail the "rights, powers, and privileges;" the Central Southern Eailroad Com- pany with ail the "powers and privileges;" the Memphis & Ohio Eailroad Company with ail the "powers, rights, and privileges ; " and the Memphis, Clarksville & Louisville Eail- road Company with ail the "rights, powers, and privileges," of the Nashville & Chattanooga Eailroad Company. �The period named in said several charters, during which •time the property of said companies was respectively exempt from taxation, had not elapsed when the assessment corn- plained of was made. �The act of the twenty-fourth of March, 1875, entitled "An act declaring the mode and manner of valuing the property of railroads for taxation," enacts, section 1, "that each rail- road company owning and operating a railroad in the state shall, on or before the first day of May of each year, make ont and file with the comptroller of the state treasury a com- plete Bchedule of ail its property, real, personal, and mixed, setting forth therein the length in miles, or fractions thereof, of its entire road-bed, switçhes, and side tracks, and showing how many miles, or fractions thereof, lie in the state, in each county of the state through which the road passes, and in each ineorporated town, and the value of the whole and each part thereof, as subdivided herein; the total amount of cap- ital stock ; the number of engines, and their respective values ; the gross annual receipts; the number of cars of ail character, their classes and value ; the number of depôt buildings and warehouses, and other buildings; in what county and ineor- porated town located, and the value of each, including the lands and lots on which the same are built ; the value of ail machine shops, and stationary machinery and tools therein, and in what county and ineorporated town located, including the land on which the same are built; ail real, personal, or ����