SPRATLEY, Justice.
The plaintiff, The Chesapeake and Potomac Telephone Company of Virginia, is now and has been for many years operating its telephone business, both in interstate and intrastate commerce, within the City of Newport News, Virginia. The franchise under which it formerly operated expired December 31, 1950. That franchise required no payment of money to the City; but expressly reserved to the City the right to impose any lawful tax. By ordinance, the...
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