DALLAS T. & T. WAREHOUSE CO. v. COMMISSIONER OF INT. REV.

No. 7046.

70 F.2d 95 (1934)

DALLAS TRANSFER & TERMINAL WAREHOUSE CO. v. COMMISSIONER OF INTERNAL REVENUE.

Circuit Court of Appeals, Fifth Circuit.

April 12, 1934.


Attorney(s) appearing for the Case

Eustis Myres, of Dallas, Tex., for petitioner.

Frank J. Wideman, Asst. Atty., Gen., Sewall Key and Walter L. Barlow, Sp. Assts. to Atty. Gen. and E. Barrett Prettyman, Gen. Counsel, Bureau of Internal Revenue, and Bruce A. Low, Sp. Atty., Bureau of Internal Revenue, both of Washington, D. C., for respondent.

Before BRYAN, SIBLEY, and WALKER, Circuit Judges.


WALKER, Circuit Judge.

The petitioner is a Texas corporation, engaged in the transfer and storage business. In 1924 it leased a unit of a warehouse building in Dallas, Tex., for a term of twenty years, beginning July 15, 1924, at a rental of $7,000 a month. In October, 1925, the petitioner owed its lessor $47,592.57 for unpaid rental and other bills, and for that amount executed its note and gave as security a deed of trust conveying a parcel of real estate which...

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