Show FRANCHISE TAX LAW Argument Heard on Matter In New York Supreme Court Albany N Y Dec Argument In the appeal from the dccislon declaring constitutional the franchise tax law was begun In the Appellate dIvision of thli Supreme court here today and will continue for three days Fortyseven I corporations among the largest in New York city arc parties to the contio vcrh > The decision In question sets forth that t the special tax law violated neither the State nor the Federal Constitutions Con-stitutions that the State Hoard of Tax fominlsMioners II > not required in determining de-termining the value of a special fran chlbo to separate the value of the tangible from the value of the Intang bIt property constituting the franchise and that the rate of taxation on special franchises should correspond with the Tale applied In determining the value of other serIes of real estate In the same tax district The amount Involved aggregates 12 000000 which ban been aH eHscd against tho corporations of the State and paid by them under protest The decision in the cane was rendered by Judge Robert Earl who died at HeHcImcr today as referee and was continued by Supreme Court Justice Hfrrlck i |