FAIRBANKS COURT W. GROC. CO. v. COMMISSIONER OF INT. REV.

Nos. 5365, 5366.

84 F.2d 18 (1936)

FAIRBANKS COURT WHOLESALE GROCERY CO. v. COMMISSIONER OF INTERNAL REVENUE.

Circuit Court of Appeals, Seventh Circuit.

June 4, 1936.


Attorney(s) appearing for the Case

Isaac H. Mayer, Carl Meyer, Harry Thom, and Freeman Day, all of Chicago, Ill., for petitioners.

Frank J. Wideman, Asst. Atty. Gen., and Sewall Key and Morton K. Rothschild, Sp. Assts. to Atty. Gen., for respondent.

Before EVANS and SPARKS, Circuit Judges, and BRIGGLE, District Judge.


BRIGGLE, District Judge.

The question for decision is: Where three separate and distinct corporations are consolidated into a new corporation which issued its entire capital stock for the properties of the former corporations in such proportions that the aggregate stock held in the new corporation by all the former stockholders of any one of the three former corporations was less than 80 per cent. of the outstanding stock of the new corporation, shall the new corporation...

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