UNITED STATES v. HOTCHKISS REDWOOD CO.

No. 5278.

25 F.2d 958 (1928)

UNITED STATES v. HOTCHKISS REDWOOD CO.

Circuit Court of Appeals, Ninth Circuit.

April 16, 1928.


Attorney(s) appearing for the Case

Geo. J. Hatfield, U. S. Atty., of San Francisco, Cal. (C. M. Charest, Gen. Counsel, and L. H. Baylies, Atty., Bureau of Internal Revenue, both of Washington, D. C.), for the United States.

Jones & Dall, of San Francisco, Cal. (Esmond Schapiro, of San Francisco, Cal., of counsel), for defendant in error.

Before GILBERT, RUDKIN, and DIETRICH, Circuit Judges.


RUDKIN, Circuit Judge.

On and prior to June 19, 1919, the Hotchkiss Timber Company, a California corporation, was the owner of approximately 20,000 acres of timber land in Del Norte county, acquired in the year 1906 for the sole purpose of owning and holding the same and reselling as a whole at a profit. The Hotchkiss Redwood Company was organized in 1919, to take over the timber land for the like purpose and to place a new bond issue, which for some reason the old...

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