structures which support the same, without any separate assessment of land and improvements, as required by section 2 of article XIII of the Constitution, is void. The Constitution provides a mode in which the state board of equalization shall fix its valuation of railroads, and must be construed, in so far as it differs from the general rule in allowing the roadway, roadbed, and rolling stock to be valued together, as an authorized exception. (California etc. R. R. Co. v. Mecartney, 104 Cal. 616, 38 Pac. 448.)

The roadbed is the foundation on which the superstructure of a roadway rests; the roadway is the right of way, which property is liable to taxation; the rails in place constitute the superstructure. An assessment of these items separately does not constitute double taxation. (San Francisco etc. R. R. Co. v. Board of Equalization, 60 Cal. 12.)

A railway company organized under the laws of the state of California to construct and operate its railroad within the state, which has subsequently received from the United States a franchise to construct and operate a railroad from the Pacific Ocean eastward, may be assessed upon its franchise derived from the state, which is not merged in or destroyed by the franchise received from the federal government. The assessment of a railroad franchise within the state properly susceptible of valuation by the state board of equalization must be presumed, in the absence of any other evidence than the assessment itself, to have been assessed upon property within the jurisdiction of the board, rather than upon property which it had no power to include in the assessment. (People v. Cen. Pac. R. R. Co., 105 Cal. 576, 38 Pac. 905. Cited: Solano Co. v. Me Cudden, 120 Cal. 651, 53 Pac. 213.)

Franchises, Generally.-A water company whose franchise has been assessed in the country where it has its principal place of business, cannot be assessed as upon a "franchise" for a mere right of way in another county, through which a portion of its pipe and pipeline passes entirely unconnected with any privilege granted by such county to take tolls or collect water rates, or enjoy any other special prerogative. Such mere right of way is not a franchise. (Spring Valley W. W. v. Barber, 99 Cal. 36, 33 Pac. 735.)

In this state, the Constitution having declared that franchises are property, and that all property in the state not exempt from taxation shall be assessed in proportion to its value, to be ascertained as provided by law (Const., art. XIII, sec. 1), it would seem to follow that the tax must be according to a valuation made by the officer appointed for the purpose. If the state can impose a tax on the franchise of a corporation in the nature of an excise or duty, it does not exclude the taxation by a valuation made by an (Spring Valley W. W. v. Schottler, 62 Cal. 69. Cited: Spring Valley W. W. v. Barber, 99 Cal, 38, 33 Pac. 735.)

assessor.

Franchises are property, and are to be taxed in proportion to their

value. (San Jose Gas Co. v. January, 57 Cal. 614. Cited: 62 Cal. 108, 112, 114, 117; Spring Valley W. W. v. Barber, 99 Cal. 38, 33 Pac. 735.)

There can be no doubt of the power of a state to tax the franchise at its assessed value. There may be more difficulty in arriving at its value than that of a parcel of land or personal chattels, but still its value may be estimated, and such value may exceed the value of the tangible property of the corporation. (Spring Valley W. W. V. Schottler, 62 Cal. 69. Cited: People v. City of Oakland, 92 Cal. 614, 28 Pac. 807; Spring Valley W, W. v. Barber, 99 Cal. 38, 33 Pac. 735.) It was the intention of those who framed and ratified the Constitution to place franchises in the category of property to be taxed. The word "franchise" as used in the first section of article XIII is used generally without any qualifying words, and is intended to embrace all franchises of the character above referred to, whether V. Schotvested in individuals or bodies politic. (Spring Valley W. W. tler, 62 Cal. 69; San Francisco Gaslight Co. v. Schottler, 62 Cal. 119.) The clause and all other matters and things, real, personal, and mixed, capable of private ownership," in section 1 of article XIII, does not qualify the word "franchises,' ," which precedes it. The words used show clearly that they were intended to add something to what preceded them, to refer to kinds of property not previously mentioned, not to qualify anything. They constituted a declaration that in enumerating the property to be taxed it was not intended to confine the enumeration to "" 'moneys, credits, bonds, stocks, dues, franchises," but to include all other kinds of property, and that by no construction of the word "property," as used in the section, were any kinds of property to be left out. (Spring Valley W. W. v. Schottler, 62 Cal. 69.)

All these rights exist until the legislative authority has acted so as to impair them or take them away; and until such legislation is enacted, the rights of property remain unimpaired. Shares of stock, whether real or personal estate, are property. (Spring Valley W. W. v. Schottler, 62 Cal. 69.)

When all the property of the corporation is assessed-its franchise and all of its other property of every character-then all of the stock of the corporation is assessed, and the mandate of the Constitution is complied with. (Burke v. Badlam, 57 Cal. 601.)

Description of Owner.-In the absence of evidence of identity, an assessment of property to the "Sulphur Banks Q. M. Co., F. Fiedler, Agent," cannot be enforced against a corporation known as the "Sulphur Bank Quicksilver Company." (Lake County v. S. B. Q. M. Co., 66 Cal. 17, 4 Pac. 876. Affirmed: Landregan v. Peppin, 86 Cal. 124, 24 Pac. 859.)

Description of Property.-The description of property assessed as "loans on stocks and bonds" is sufficiently certain to enable the Savings bank to which it is assessed to know for what property it

is taxed. (Sav. & Loan Soc. v. San Francisco, 131 Cal. 356, 63 Pac. 665.)

RETURN OF STATEMENT BY OFFICER.

Sec. 3629, Pol. C. He must exact from each person a statement, under oath, setting forth specifically all the real and personal property owned by such person, or in his possession, or under his control, at twelve o'clock M. on the first Monday in March. Such statement shall be in writing, showing separately:

1. All property belonging to, claimed by, or in the possession or under the control or management of such person.

2. All property belonging to, claimed by, or in the possession or under the control or management of any firm of which such person is a member.

3. All property belonging to, claimed by, or in the possession or under the control or management of any corporation of which such person is president, secretary, cashier, or managing agent.

4. The county in which such property is situated, or in which it is liable to taxation, and (if liable to taxation in the county in which the statement is made) also the city, town, township, school district, road district, or other revenue districts in which it is situated.

5. An exact description of all lands, in parcels or subdivisions, not exceeding six hundred and forty acres each, and the sections and fractional sections of all tracts of land containing more than six hundred and forty acres, which have been sectionized by the United States government, improvements and personal property, including all vessels, steamers, and other watercraft; and all taxable state, county, city, or other municipal or public bonds and the taxable bonds of any person, firm, or corporation, and deposits of money, golddust, or other valuables, and the names of the persons with whom such deposits are made, and the places in which they may be found; all mortgages, deeds of trust, contracts, and other obligations by which a debt is secured, and the property in the county affected thereby.

6. All solvent credits, unsecured by deed of trust, mortgage, or other lien on real or personal property, due or owing to such person, or any firm of which he is a member, or due or owing to any corporation of which he is president, secretary, cashier,

or managing agent, deducting from the sum total of such credits such debts only, unsecured by trust deed, mortgage, or other lien on real or personal property, as may be owing by such person, firm, or corporation to bona fide residents of this state. No debts shall be so deducted unless the statement shows the amount of such debt as stated under oath in aggregate; provided, in case of banks the statement is not required to show the debt in detail, or to whom it is owing; but the assessor shall have the privilege of examining the books of such banks to verify said statement. Whenever one member of a firm, or one of the proper officers of a corporation, has made a statement showing the property of the firm or corporation, another member of the firm, or another officer, need not include such property in the statement made by him; but his statement must show the name of the person or officer who made the statement in which such property is included. En. March 12, 1872. Amd. March 20, 1880 (Amd. 1880, 7); Amd. March 7, 1881 (Stats. 1881, 58).

Legislative History.

Subdivision 3 is as in the original. Subdivision 6 was the same as the last sentence of subdivision 6 above. Subdivision 6 in its present form was enacted in 1880.

Return of statement to state board of equalization: Sec. 3664, Pol. C., post.

Section Cited.

In Relation to Corporations: Lake County v. S. B. Q. S. Min. Co., 68 Cal. 15, 8 Pac. 593; Security Sav. Soc. v. Hinton, 97 Cal. 221, 32 Pac. 3; McHenry v. Downer, 116 Cal. 29, 47 Pac. 779.

Annotation.

Return of Superintendent of Mining Company.-For purposes of sections 3629 and 3630 of Political Code, superintendent of mining company is equivalent to managing agent, and may be required to furnish the assessor with statement of property of company for taxation. (Lake County v. Sulphur Bank etc. Co., 68 Cal. 14. To same effect: People v. C. P. R. R., 105 Cal. 592.)

A statement of railroad property returned by its superintendent is binding on the corporation, and justifies the assessor in adopting it as a correct statement of the property of the corporation. (People v. Stockton St. R. R. Co., 49 Cal. 414. To same effect: Lake County v. S. B. Q. S. Min. Co., 68 Cal. 14, 8 Pac. 593.)

PROPERTY OF FIRM OR CORPORATION ASSESSED WHERE

SITUATED.

Sec. 3641, Pol. C. The property of every firm and corporation must be assessed in the county where the property is situate, and must be assessed in the name of the firm or corporation. En. March 12, 1872.

County where property situated, assessment in: See ante, sec. 3628, Pol. C.

Section Cited.

S. F. v. Flood, 64 Cal. 504, 2 Pac. 264.

Annotation.

Construction of Section.-This section does not apply to shares in a mining corporation constituted under the laws of this state, but whose tangible property is situated elsewhere. (San Francisco v. Flood, 64 Cal. 504, 2 Pac. 264.)

ASSESSMENT OF WATER DITCHES, TOLL ROADS AND TELEGRAPH LINES.

Sec. 3663, Pol. C. Water ditches constructed for mining, manufacturing or irrigating purposes, and wagon and turnpike toll roads must be assessed the same as real estate by the assessor of the county, at a rate per mile for that portion of such property as lies within his county. All telegraph and telephone lines shall be described in the same manner as real estate is described, but assessed as personal property by the assessor of the county, at a rate per mile for that portion of such property as lies within his county. En. March 12, 1872. Amd. 1873-74, 158; 1880, 13; 1880, 59; 1895, 312.

Legislative History.

The original section provides for the assessment of railroads. The amendment of 1880 was like the first sentence of the above, except that it included "telegraph line." The second sentence above, providing for the assessment of telegraph and telephone lines, was added by the amendment of 1895.

Section Cited.

Coonradt v. Hill, 79 Cal. 590, 21 Pac. 1099; Kern Valley etc. Co. v. County of Kern, 137 Cal. 515, 70 Pac. 476.

Annotation.

Section

Construed-Character of Ditch.-This section does not apply to small ditches supplying water for domestic purposes, water