DIAMOND ALKALI CO. v. DRISCOLL

No. 691 Civ. A.

37 F.Supp. 536 (1941)

DIAMOND ALKALI CO. v. DRISCOLL, Collector of Internal Revenue.

District Court, W. D. Pennsylvania.

February 25, 1941.


Attorney(s) appearing for the Case

Reed, Smith, Shaw & McClay, of Pittsburgh, Pa., for plaintiff.

George Mashank, Acting U. S. Atty. for Western District of Pennsylvania, and Elliott W. Finkel, Asst. U. S. Atty., both of Pittsburgh, Pa., Samuel O. Clark, Jr., Asst. Atty. Gen., and Andrew D. Sharpe and Paul S. McMahon, Sp. Assts. to Atty. Gen., for defendant.


GIBSON, District Judge.

By the present action the plaintiff seeks to recover a portion of the capital stock tax paid by it for the taxable year ending June 30, 1935.

In 1934 the plaintiff had in its possession 100,426 shares of Treasury stock, of which 79,000 shares were of Preferred "A" and 21,426 shares were of Preferred "B" stock. By certificate filed with the Secretary of State of Delaware, on February 13, 1934, the plaintiff retired and cancelled 45,713...

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