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essential element; 1 and cannot, therefore, be indicted for felonies, as treason, murder, perjury, etc.2 But beyoud this, corporations are not exempt from the consequences of unlawful and wrongful acts committed by their agents in pursuance of authority derived from them, and they may be indicted for misfeasance, as well as for nonfcasance, as it respects duties of a public nature, enjoined by the legislature for the benefit of the public.4 Thus, a corporation may be indicted for misfeasance in cutting through and obstructing a public highway, 5 or for nonfeasance in neglecting to repair a highway. And, in general, a corporation may be indicted for creating and continuing a nuisance; and it is immaterial whether the party erecting the nuisance does it ignorantly or by design, or with a good or an evil intent.8 The legislature has power to relieve a municipal corporation from liability for any nonfeasance or misfeasance of the city officers.9 An act conferring authority upon a corporation to construct a dam on its own land upon and across a river which is a highway, protects it from indictment for a nuisance in obstructing the river; 10 but not from liability for overflowing the land of others, in building its dam. 11 If the officer or employé of a corporation, with intent to evade the provisions of the law, issue papers which the law requires to be stamped, without the proper stamps, the corporation is liable to indictment therefor.12

1 See Riddle v. Proprietors etc. 7 Mass. 169; Cumberland etc. Co. v. Portland, 56 Me. 77; 62 id. 504; Reg. v. Great North of England Railw. Jo. 9 Q. B. 315; Reg. v. Stephens, Law R. 1 Q. B. 702.

2 Riddle v. Proprietors etc. 7 Mass. 169.

3 State v. Ohio etc. R. R. Co. 23 Ind. 362; Boston etc. R. R. Co. v. State, 32 N. H. 215; Commonw. v. New Bedford Bridge, 2 Gray, 339.

4 Commonw. v. New Bedford Bridge, 2 Gray, 339; Louisville etc. R. R. Co. v. Commonw. 13 Bush, 333; State v. Morris etc. R. R. Co. 23 N. J. L. 360; Phillips v. Cominonw. 44 Pa. St. 197.

5 Louisville etc. R. R. Co. v. State, 3 Head, 523; Reg. v. Scott, 3 Q. B. 543; 3 Eng. Railw. Cas. 187; Reg. v. Longton Gas Co. 2 El. & E. 651.

6 Syracuse etc. Plank Road Co. v People, 66 Barb. 25; Red River Turnp. Co. v. State, 1 Sneed, 474; Commonw. v. Hopkinsville, 7 B. Mon. 88; Bragg v. City of Bangor, 51 Me. 532; Reg. v. Mayor etc. 7 EL &B. 453; and see State v. Dover, 46 N. H. 452.

7 State v. Morris etc. R. R. Co. 23 N. J. L. 360. Compare State v. Vermont Cent. R. R. Co. 30 Vt. 108; Mayor etc. v. Henley, 3 Barn. & Ald. 77; 2 Clark & F. 331; State v. Ohio etc. R. R. Co. 23 Ind. 362; State v. Manuf. Co. 20 Me. 41.

8 State v. Morris etc. R. R. Co. 23 N. J. L. 360.

9 Gray v. City of Brooklyn, 50 Barb. 365.

10 Hooksett v. Amoskeag Manuf. Co. 44 N. H. 105; Eastman v. Amoskeag Manuf. Co. id. 143.

11 Eastman v. Amoskeag Manuf. Co. 44 N. H. 143.

12 United States v. Balt. etc. R. R. Co. 7 Am. Law Reg. N. S. 757.

§ 87. Liability to taxation.-Taxes are burdens or charges imposed by the legislature upon persons or property, to raise money for public purposes, or to accomplish some governmental end.1 It is a pecuniary burden for the support of government; 2 and a corporation may be taxed in its business and property, with as much propriety as may an individual, unless there is something in the act by which it is constituted which exempts it from this burden. Houses and lands, articles of personal property, and stock owned in moneyed corporations, are among the most common subjects of taxation.4 And where the word " persons occurs in tax-laws, it is presumed to include corporations.5 The business or franchise of a corporation created by state legislation, as well as its property, are legitimate subjects of state taxation; 6 but a state cannot impose taxes which restrain the action of the national government, or the operation of any constitutional law of congress. A state may impose a tax, license fee, etc., upon a foreign corporation seeking to transact business within the limits of such state, as a condition of granting the privilege; but states cannot impose taxes upon the movement or transportation of goods or persons from one state to another. Double taxes are illegal and unjust, and not allowable; 10 and, therefore, corporate property taxed in the hands of stockholders, is not liable to taxation in the hands of the corporation.11 But a state may tax shares of capital stock invested in United States bonds, against stockholders, although it could not tax the bonds themselves.12 A corporation BOONE CORP.-10.

8

created by the co-operating legislation of two states, for the purpose of erecting a bridge over a river, the middle line of which forms the boundary between the states, and which has erected such bridge, is liable to taxation in each state for one-half of its capital and surplus. 18 Municipal corporations created by the various states, are agencies of the state governments for the administration of local affairs, and congress has no power to tax the revenues thereof. 14 Persons associated together to hold property and carry on business, but not incorporated, are not taxable as shareholders in a corporation, but as partners. 15 But a joint-stock association formed under a general act is a corporation within the meaning of laws relating to taxation, and, as such, is liable to be taxed on its capital.16 Property belonging to a corporation is vested in the shareholders in their corporate capacity, and is consequently taxable in the name of the corporation.17

1 Hanson v. Vernon, 27 Iowa, 28; and see Warren v. Henly, 31 Id. 31; Sharpless v. City of Philadelphia, 21 Pa. St. 147; Hilbish v. Catherman, 64 d. 154; Railroad Company v. Stockton, 41 Cal. 149; City of Santa Barbara v. Stearns, 51 id. 499.

2 United States v. Railroad Co. 17 Wall. 322.

3 Shitz v. Berks County, 6 Pa. St. 80; Bank of Penn'a v. Commonw. 19 id. 144; State v. Commercial Bank, 7 Hain. (Ohio) 125; Monroe Savings Bank v. City of Rochester, 37 N. Y. 365; Harvard College v. Aldermen etc. 104 Mass. 470; New Orleans v. People's Bank, 27 La. An. 646.

4 See Mechanics' Bank v. Debolt, 1 Ohio St. 591; People v. Mayor etc. 6 Barb. 209; People v. Pacheco, 27 Cal. 175; Bulow v. City Council etc. 1 Nott & McC. 527; Duer v. Small, 4 Blatclif. 263.

5 Louisville etc. R. R. Co. v. Commonw. 1 Bush, 250; People v. Utica Ins. Co. 15 Johns. 358; West. Un. Tel. Co. v. Richmond, 26 Gratt. 1; Miller v. Commonw. 27 id. 110; and see People v. Comm'rs of Taxes, 23 N. Y. 242; British etc. Ins. Co. v. Comm'rs of Taxes, 1 Keyes, 303; Inhabitants etc. v. Trustees etc. 37 Me. 30). But a state is not a "corporation" " within the tax laws: State v. Atkins, 35 Ga. 315.

6 Monroe Sav. Bank v. City of Rochester, 37 N. Y. 365; and see Railroad Co. v. Maryland, 34 Md. 344; 21 Wall. 456; Richmond etc. R. R. Co. v. Brogden, 74 No. Car. 707.

7 Minot v. Phila. etc. R. R. Co. 2 Abb. U. S. 323; 18 Wall. 206; Soc. for Savings v. Coite, 6 id. 554; Railroad Co. v. Peniston, 18 id. 5.

8 Liverpool Ins. Co. v. Massachusetts, 10 Wall. 566; West. Un. Tel. Co. v. Lieb, 76 Ill. 172; West. Un. Tel. Co. v. Mayer, 28 Ohio St. 521; Att.-Gen. v. Bay State Mining Co. 99 Mass. 148; British etc. Life Ins. Co. v. Comm'rs of Taxes, 31 N. Y. 32; and see Doyle v. Continental Ins. Co. 94 U. S. 535; Buffalo etc. R. R. Co. v. Commonw. 3 Brewst. 386.

9 Railroad Co. v. Maryland, 21 Wall. 456; Clarke v. Phila. etc. R. R. Co. 4 Houst. 158.

10 Smith v. Burley, 9 N. H. 423; Gordon v. Mayor etc. 5 Gill, 231; Rex v. Churchwardens etc. 1 East, 534; Rex v. Vandewall, 2 Burr. 991. Compare State v. Collector etc. 37 N. J. L. 258.

11 State v. Hannibal etc. R. R. Co. 37 Mo. 265; Savings Bank v. City of Nashua, 46 N. H. 389; Bank of Cape Fear v. Edwards, 5 Ired. 516;. State v. Cumberland etc. R. R. Co. 40 Md. 22. Compare Van Allen v.. Assessors, 3 Wall. 573; People v. Assessors, 16 Hun, 196.

12 Building Assoc. r. Lightner, 47 Mo. 393. Compare Manufactur ers' Ins. Co. r. Loud, 99 Mass. 146; State v. Metz, 32 N. J. L. 199; State v. Haight, 34 id. 128; Coite v. Conn. Life Ins. Co. 36 Conn. 512; People v. Comm'rs of Taxes, 32 Barb. 509.

13 State v. Metz, 32 N. J. L. 199; Commonw. v. Trenton Bridge_Co. 9 Am. Law Reg. 298. Compare Eastern Bridge v. Northampton Co. 9 Pa. St. 415.

14 United States v. Railroad Co. 17 Wall. 322; The Collector v. Day, 11 id. 113.

15 Hoadley v. Comm'rs of Essex, 105 Mass. 519.

16 Sandford v. Supervisors etc. 15 How. Pr. 172.

17 Balt. etc. R. R. Co. v. Supervisors, 3 Wash. (Va.) 319; and see People v. Assessors, 16 Hun, 156.

§ 88. Place of taxation.-Land is taxable in the place where it is situated; but where lands owned and occupied by a corporation are situate, partly in one township and partly in another, they will be subject to taxation in that township in which the corporation resides.2 Corporations, like natural persons, are liable to be taxed for their personal property in the places where they reside. But this rule has respect to the corporate property as distinguished from the interests of individual stockholders; and, as to such interests, they are taxable in the places where the stockholders respectively reside. Stock of a corporation, created in one state, which is owned and held by persons residing in another state, is not subject to the taxing power of the former state.5

1 Salem Iron etc. Co. v. Danvers, 10 Mass. 514; Carbon Iron Co. v. Carbon County, 39 Pa. St. 251; Nashua Sav. Bank v. Nashua, 46 N. II. 389; People v. Assessors, 39 N. Y. 81; Tremont Bank v. City of Boston, 1 Cush. 142.

2 State v. Warford, 37 N. J. L. 397; and see People v. Oswego, 6 Thomp. & C. 673.

3 Union Bank v. State, 9 Yerg. 490; Mohawk etc. R. R. Co. v. Clute, 4 Paige, 34; McKeen v. Northampton County, 49 Pa. St. 519; Orange etc. R. R. Co. v. City Council etc. 17 Gratt. 176; State v. Ill. Cent. R. R. Co. 27 Ill. 64; Jones v. Bridgeport, 35 Conn. 253; Middletown Ferry Co. v. Middletown. 40 id. 65; and see McHarg v. Eastman, 4 Robt. 635; Metcalf v. Messenger, 46 Barb. 325; People v. Bay State etc. Co. 17 Hun, 204; People v. Comm'rs etc. 46 How. Pr. 315.

4 Conwell v. Town of Connersville, 15 Ind. 150; Nashua Sav. Bank v. Nashua, 46 N. H. 389; Smith v. Exeter, 37 id. 556; and see Auditor etc. v. New Albany etc. R. R. Co. Il Ind. 570.

5 Union Bank v. State, 9 Yerg. 490; and see Railroad Co. v. Pennsyl vania, 15 Wall. 300.

§ 89. Modes of valuation and assessment.-A state has power to tax the property, real and personal, of all the corporations within its borders, the same as it may tax similar property belonging to natural persons, and it may do this upon a valuation, or on the principle of an excise tax; but a state has not the power to tax both the capital stock, and also the real and personal property of a corporation. If it elects to tax the property, the rule of uniformity of taxation requires that the assessment shall be at the same rate as all other property in the state. But the tax law of a state is not objectionable merely because it prescribes a different rule of taxation for corporations from that for individuals; and corporate taxation, and the place and parties to be taxed, are matters which are now generally regulated by statute.5 Under the California tax-laws, a railroad is taxed as real estate, the portion situate in each county being assessed in that county as so much land. In Tennessee, a railroad is not to be estimated as so much land used for farming purposes, but according to its value as a railway. In Rhode Island, rails, sleepers, bridges, etc., of a railroad company, together with the easement in the lands within the limits of the road, are real estate, and taxable as such in the towns through which the road passes.8 In New York, the real estate of railroad corporations, occupied and used by them for railroad purposes, cannot properly be assessed as non-resident lands";9 for the purposes of taxation, the corporation is to be deemed a resident of each town and county through which its road passes, 10 and each piece of property is to be estimated in connection with its position, its incidents, and the business and profits to be derived therefrom.11 Railroad property in Kentucky, including depot grounds, buildings, etc., cannot be taxed by