394 



ILLINOIS. 



tutional amendment which shall make the traffic in 

 alcohol as a beverage illegal throughout our national 

 domain. 



There are six life-insurance companies or- 

 ganized under the laws of the State, with an 

 aggregate capital of $1,827,694.84, and fifty 

 life and accident insurance companies of other 

 States doing business in Illinois, whose capital 

 amounts in the aggregate to $8,464,194.35. 

 The aggregate assets of foreign companies do- 

 ing business in the State amount to $377,318,- 

 385. The premiums received amount to $90,- 

 022,989.86 ; deferred and unpaid premiums, 

 $11,236,957.41. The total number of life- 

 policies issued during the year was 10,707, 

 amounting to $23,265,606; premiums received, 

 $3,958,397; losses paid, $1,446,824. Total as- 

 sets of all the companies, $389,093,484.99 ; 

 liabilities, $356,202,578.34; surplus, $32,890,- 

 856.65 ; income, $117,774,726.27 ; expendi- 

 tures, $84,514,643.23. 



During the year the following railroads 

 passed into the hands of receivers through the 

 bankruptcy of the companies : 



Miles. 



Oilman, Clinton & Springfield Ill 



Springfield & Illinois Southeastern 226 



Springfield & Northwestern 49 



Cairo & Vincennes 160 



St. Louis & Southeastern '203 



Tainaroa & Chester. . . 42 



: 



cause in violation of that rule, and consistent with 

 no other reasonable theory of valuation, cannot be 

 the honest judgment of a majority of that board. It 

 is an arbitrary and unreasonable valuation. Because 

 the law has devolved on the Board of Equalization 

 and not on the courts the duty of making such valu- 

 ations, we hold it is not the duty of the courts to ex- 

 ercise any supervisory care over its valuations, so 

 long as it acts within the scope of the powers with 

 which it is invested, and in obedience to what may 

 reasonably be presumed to be an honest judgment, 

 however much we may disagree with it. Hut when- 

 ever the board undertakes to go beyond its juris- 

 diction, or to fix valuations through prejudice or a 

 reckless disregard of duty, in opposition to what 

 must necessarily be the judgment of all persons of 

 reflection, it is the duty of the courts to interfere 

 and protect tax-papers against the consequences of 

 its acts. Where its jurisdiction is conceded, no 

 mere difference of opinion as to the reasonableness 

 of its valuations will justify equitable interference. 

 But its valuations must be the result of honest judg- 

 ment and not of mere will. 



The elections and legislative sessions in this 

 State are biennial. No State election occurred 

 this year, and, as there is no session of the 

 Legislature in 1876, official reports of the va- 

 rious departments of the government are want- 

 ing. 



Assessment returns from the several coun- 

 ties of the State afford the following statistics : 



i Aiuuarua o& vuester *z PERSONAL PROPERTY. 



Kockford & Bock Island 320 



Toledo, Peoria & Warsaw 246 CLASS. Numbor. Value. 



Indianapolis, Bloomington & Western 189 



Teledo, Wabash & Western 582 Horse9 9 28 ,468 $37,818,706 



T . , - Cattle 1,985,155 28,823,950 



lotal - 2,078 Mules and asses 116,878 5,346,693 



In the case of the people against the Chicago ){* jg|i5J 



&A IA. T> -i j n n' *. /~i .UOgS z,!>0yifo9 o,lo7,li<3 

 Alton Railroad Company the Circuit Court 



made a decision in November which sustains Total value personal property $289,102,189 



the constitutionality of the railroad law, al- 

 though the case was not disposed of. The de- REAL ESTATE. ^ 



cision of the lower court in favor of the people CLASS. Number. value. 



was reversed on account of a defect in the dec- ' 



laration, and the case was continued to allow improved lands, acres 2 f' 12 H 1 5 $490,152,123 



of an amendment. In the case of the Chicago, SHSKln and city iots.'.: ! \ '. '372J62 18$2$5 



Burlington & Quincy Railroad Company against Unimproved town and city lots . . . 464,697 40,778,&4T 



Cole, thepoint at error was whether the Board To tai value personal property, 



of Equalization, in determining the valuation lands, and lots $1,019,929,630 



of the property, was right in adding to the Kaiiroad property assessed: 



market valae of the shades the cash falue of IS&SS^.:: \\ ""i&i *%& 



the debts, not only of the company itself but Lots -M46 2^510,852 



of the indebtedness of six other companies Total $7491409 



whose roads it had leased. This court de- Total value 'of all property as- " 



cided that the amount of this indebtedness, sessed in counties $1,025,421,039 



amounting to $6,756,000, should not have been 



included in making up the valuation. It said: Wheat ._ 2439633 



"We can conceive no possible process by which the Corn ' '.'.'.'.'.".'.'.'.'.'.'.".".'. 7J9l',268 



amount of this indebtedness can be made to show Oats 2,23s,644 



the present value of that which belongs to ap- JSf^ij""* 2,821,518 



pellant. It cannot be said to reduce the* value of Acre's fnlnSsed Ssiures 



its shares of stock because its payment demands 1^ j^cS. ^^ ;;;;:;;; ; ^gjg- 

 notnmg winch would otherwise, in any contingency, Acres in woodland .... 7 103 809 

 belong to the shareholder. The effect of it is. neces- 

 sarily and unavoidably to increase the valuation of COMPARATIVE STATEMENT. 



the capital stock, including the franchise of appellant, Aggregate assessment for 1874 $1,105,658,1 76 



$6,756,000 beyond what it should be. If, as it must " 1875 1,025,421,089 



be to be sustained, the rule adopted bv the Roard 



of Equalization, by 'which to be governed in makfng Excess of 1S74 over 1875 $80,237,131 



this class of assessments, mayT>e regarded as the "iSgSSUXJ assessment 1875 over ..__._ 



B 11 ?the maJ01 i ty *&tt'*X^'ZZZy. H7S4 ' 355 

 this assessment, be- gregating..; $85,021,492 



