NORTHWEST BANCORPORATION v. COMMISSIONER OF INT. REV.

No. 10712.

88 F.2d 293 (1937)

NORTHWEST BANCORPORATION v. COMMISSIONER OF INTERNAL REVENUE.

Circuit Court of Appeals, Eighth Circuit.

February 17, 1937.


Attorney(s) appearing for the Case

Peter S. Rask, of Minneapolis, Minn. (P. J. Coffey, of Minneapolis, Minn., on the brief), for petitioner.

Arnold Raum, Sp. Asst. to Atty. Gen. (Robert H. Jackson, Asst. Atty. Gen., and Sewall Key and Berryman Green, Sp. Assts. to Atty. Gen., on the brief), for respondent.

Before GARDNER, THOMAS, and FARIS, Circuit Judges.


THOMAS, Circuit Judge.

This is a petition to review a decision of the Board of Tax Appeals (32 B.T.A. 1218), and involves income taxes for the year 1930 in the amount of $13,577.85. The petition was filed by the taxpayer, the board having found in favor of the Commissioner of Internal Revenue. Petitioner contends that on November 8, 1930, it sustained a loss of $654,467.75; this amount being the difference between petitioner's cost of stock of the Metropolitan National...

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