Writ of Certiorari Granted June 3, 1940. See 60 S.Ct. 1097, 84 L.Ed. ___.
AUGUSTUS N. HAND, Circuit Judge.
The question before us is whether a loss sustained by the taxpayer Electro-Chemical Engraving Co., Inc., through a sale of its factory by foreclosure should be limited to $2,000 by reason of Section 117 (d) of the Revenue Act of 1934, 26 U.S.C.A. Int.Rev. Acts, instead of being deductible to the extent of the excess of the adjusted basis over the amount...
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