PEAVY-BYRNES LUMBER CO. v. COMMISSIONER OF INT. REV.

No. 6903.

69 F.2d 712 (1934)

PEAVY-BYRNES LUMBER CO. v. COMMISSIONER OF INTERNAL REVENUE.

Circuit Court of Appeals, Fifth Circuit.

March 17, 1934.


Attorney(s) appearing for the Case

S. L. Herold and John B. Files, both of Shreveport, La., for petitioner.

Frank J. Wideman, Asst. Atty. Gen., John MacC. Hudson and Sewall Key, Sp. Assts. to Atty. Gen., and E. Barrett Prettyman, Gen. Counsel, Bureau of Internal Revenue, and John E. Marshall, Sp. Atty., Bureau of Internal Revenue, both of Washington, D. C., for respondent.

Before BRYAN, FOSTER, and HUTCHESON, Circuit Judges.


HUTCHESON, Circuit Judge.

This court has written one opinion, the Board two, in this case. Peavy-Wilson Lumber Co. v. Commissioner of Internal Revenue, 51 F.2d 163; 14 B. T. A. 625; 25 B. T. A. 223. We refer to them for the facts. Only a brief summary of their effect will be necessary here. The arrangement entered into in November, 1909, and later resulting in the transfer of one-half of petitioner's capital stock, did exhibit some...

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