Certiorari from the Supreme Court to the Board of Equalization of Placer County, on petition of the Central Pacific Railroad Company.

The County of Placer was divided into revenue districts, and sixteen and a quarter miles of the railroad of the petitioner was in District Number One, and seventy-six miles thereof in District Number Two. The Assessors of said districts listed said road and the telegraph line of the company along the road at twelve thousand dollars per mile, for the fiscal year 1871-2, and returned the same to the Clerk of the Board of Supervisors, about June, 1872. On the 2d day of July, 1872, the company filed a complaint with the Board of Equalization, asking that the assessment be reduced to six thousand dollars per mile. The Board, after hearing evidence on both sides, on the 19th day of July, 1872, denied the application. On the 9th day of July, 1872, J. E. Campbell, a taxpayer, filed with the Board a complaint that tiie assessment was too low, and asking that it be raised. The Board, after hearing evidence and argument on this application, on the 27th day of July, 1872, granted the application, and raised the assessment to twenty-five thousand dollars per mile. The Board also, on demand of the petitioner, entered of record a declaration of the legal principles by which it was governed in raising the assessment.

This declaration was to the effect that the sum to which the assessment was raised was the full cash value of the property at which it would be appraised if taken in payment of a debt, and that the Board did not confine itself to the mere value of rails, ties, spikes, chairs, and fish plates, but took into consideration the railroad as a whole, with its embankments, cuts, fills, culverts, trestlework, snowsheds, and everything entering into its construction, and the fact that it was a part of an entire road, extending from San Francisco to the City of Ogden, in the Territory of Utah, and connecting there with other railroads extending to the Atlantic Coast.