Railroad Reports Volume 41

Railroad Reports Volume 41

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This historic book may have numerous typos and missing text. Purchasers can usually download a free scanned copy of the original book (without typos) from the publisher. Not indexed. Not illustrated. 1906 edition. Excerpt: ...it was essential to determine the valuation as a basis for the taxes sought to be recovered. If the offer were sufficient to prove the value of the road in 1900, in the absence of any contrary testimony that value would be presumed to continue during 1901. However, we believe that under the circumstances shown the offer was not sufiicient to show the value in 1901, or at any other time, and that the objection ought to have been sustained. In Hammersmith 11. Avery, 18 Nev. 229, 2 Pac. 55, it was said: "The evidence of the plaintiff as to the offer made him for the property should have been rejected, because, among other reasons. the person making the offer may not have known the value of the property;" and, quoting from Fowler '21. Com'rs, 6 Allen, 96: "The value of an offer depends upon too many considerations tc allow it to be used as a test of the worth of property." VVe do not wish to be understood as holding that cases may not arise in which it is permissible to prove an offer, or the declarations of a party in interest or authority in reply to one; but when, as here, it is not shown that the persons who made them had the means to meet them. or knowledge of the value of the property, we see no principle upon which they may be considered admissible. Sharp 1'. U. S.. 191 U. S. 341, 24 Sup. Ct. 114, 48 L. Ed. 211. and other cases cited in appellants' brief. The district court erred in refusing defendants' instruction No. 7, following: "You are instructed that in ascertaining the net income. if any, of the Nevada Central Railroad, for the year 1901. or the net loss, if any, you should add any taxes actually paid by the company for that year to the other necessary expenditures of the road, and...show more

Product details

  • Paperback | 480 pages
  • 189 x 246 x 25mm | 848g
  • Rarebooksclub.com
  • United States
  • English
  • black & white illustrations
  • 1236831179
  • 9781236831170