ILFELD CO. v. HERNANDEZ

No. 579.

292 U.S. 62 (1934)

CHARLES ILFELD CO. v. HERNANDEZ, COLLECTOR OF INTERNAL REVENUE.

Supreme Court of United States.

Decided April 2, 1934.


Attorney(s) appearing for the Case

Mr. A.T. Hannett for petitioner.

Mr. Erwin N. Griswold, with whom Solicitor General Biggs, Assistant Attorney General Wideman, and Messrs. Sewall Key and Norman D. Keller were on the brief, for respondent.


MR. JUSTICE BUTLER delivered the opinion of the Court.

In 1917 petitioner purchased all the capital stock of the Springer Trading Company for $40,000 and in 1920 all that of the Roy Trading Company for $50,000. It held these shares until late in 1929 when both companies were dissolved. In that period it advanced the Springer Company sums amounting to $69,030.27, and the Roy Company $9,782.22. Nothing having been paid it on account of these advances, petitioner had...

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