SPROUSE v. COMMISSIONER OF INTERNAL REVENUE

No. 9751.

122 F.2d 973 (1941)

SPROUSE v. COMMISSIONER OF INTERNAL REVENUE.

Circuit Court of Appeals, Ninth Circuit.

October 22, 1941.


Attorney(s) appearing for the Case

Charles E. McCulloch and Thomas B. Stoel, Jr., both of Portland, Or., for petitioner.

Samuel O. Clark, Jr., Asst. Atty. Gen., and Sewall Key and Warren F. Wattles, Sp. Assts. to Atty. Gen., for respondent.

Before GARRECHT, HANEY, and HEALY, Circuit Judges.


HANEY, Circuit Judge.

Petitioner seeks review of a decision of the Board of Tax Appeals holding that a stock dividend received by him was taxable income.

Sprouse-Reitz Co., Inc., was organized under the laws of Oregon on February 20, 1920. On February 13, 1936, its capital stock, authorized and issued, was as follows:

            Class             Authorized     Issued
  -----------------------------------------------------
  $100 par voting...

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