BUFFINGTON, Circuit Judge.
In this case it appears the taxpayer, a resident of Philadelphia, had served as president of a Canadian company at a salary of $15,000 a year. The stock of the company was purchased by Canadian interests and a new set of directors elected by these new owners. Thereupon the president resigned. The reason for his so doing he thus stated: "I resigned because control of the stock of the Lake Superior corporation had apparently passed to Canadians...
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