COMMISSIONER OF INTERNAL REVENUE v. PETROLEUM R. CO.

Nos. 5471, 5472.

75 F.2d 189 (1934)

COMMISSIONER OF INTERNAL REVENUE v. PETROLEUM RECLAMATION CO. SAME v. PETROLEUM RECLAMATION CORPORATION.

Circuit Court of Appeals, Third Circuit.

December 20, 1934.


Attorney(s) appearing for the Case

Frank J. Wideman, Asst. Atty. Gen., Sewall Key and Norman D. Keller, Sp. Assts. to Atty. Gen., for petitioner.

Raymond B. Goodell, of New York City, for respondents.

Before BUFFINGTON, WOOLLEY, and DAVIS, Circuit Judges.


BUFFINGTON, Circuit Judge.

These tax cases, tried, argued, and disposed of as one, depend on their own particular pertinent facts, which are as follows: The Petroleum Reclamation Corporation (hereafter called Reclamation Corporation) was organized April 28, 1926. It thereupon acquired all the stock of the Petroleum Reclamation Company (hereafter called Reclamation Company) and all the stock of the Looker Oil Company (hereafter called Looker). For the balance of the...

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