GRONER, Associate Justice.
This is a petition for review of a decision of the Board of Tax Appeals. The facts are stipulated and may be summarized as follows:
Petitioner acquired shortly prior to February 28, 1923, as an original subscriber for cash, 3,300 shares of United Baking Company preferred stock at a cost of $330,000, and received as a bonus 3,300 shares of no par value common stock of the same company. The United Company was reorganized in 1924 under...
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