KIRKLAND v. BURNET

No. 5355.

57 F.2d 608 (1932)

KIRKLAND v. BURNET, Commissioner of Internal Revenue.

Court of Appeals of District of Columbia.

Decided March 14, 1932.


Attorney(s) appearing for the Case

Harvey D. Jacob and Walter A. Bolinger, both of Washington, D. C., for appellant.

G. A. Youngquist, Asst. Atty. Gen., and Sewall Key, John MacC. Hudson, C. M. Charest, and William E. Davis, all of Washington, D. C., for appellee.

Before MARTIN, Chief Justice, and ROBB and GRONER, Associate Justices.


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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