This proceeding reviews tax assessments in the town of Fallsburgh on real property of the New York, Ontario and Western Railway Company in seven successive years, 1944 to 1950-51. The assessments ranged from $1,300,960 in the first of these tax years to $380,230 in the last.
During all this time and for several years earlier, the railroad has been in reorganization under section 77 of the Bankruptcy...
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