NEW YORK, C. & ST. L. R. CO. v. BURNET

No. 5638.

64 F.2d 152 (1933)

NEW YORK, C. & ST. L. R. CO. v. BURNET, Com'r of Internal Revenue.

Court of Appeals of the District of Columbia.

Decided March 6, 1933.


Attorney(s) appearing for the Case

Adrian C. Humphreys and Newton K. Fox, both of Washington, D. C., for appellant.

G. A. Youngquist, Sewall Key, Morton K. Rothschild, C. M. Charest, and E. C. Algire, all of Washington, D. C., for appellee.

Before MARTIN, Chief Justice, and ROBB, VAN ORSDEL, HITZ, and GRONER, Associate Justices.


GRONER, Associate Justice.

Appellant claims a deduction of $35,045.38 in 1917 as discount accrued in that year upon its first mortgage 4 per cent., 50-year bonds issued in 1887. It is a railroad company and was organized in 1887. Its predecessor company had been previously placed in receivership (precisely when does not appear) because of default in the payment of interest on its first and second mortgage bonds. The principal of the bonds, together with accrued interest...

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