HAWAIIAN GAS PRODUCTS v. COMMISSIONER OF INT. REV.

No. 9833.

126 F.2d 4 (1942)

HAWAIIAN GAS PRODUCTS, Limited, v. COMMISSIONER OF INTERNAL REVENUE.

Circuit Court of Appeals, Ninth Circuit.

February 20, 1942.


Attorney(s) appearing for the Case

Heaton L. Wrenn, James M. Richmond, and Anderson, Wrenn & Jenks, all of Honolulu, Hawaii, for petitioner.

Samuel O. Clark, Jr., Asst. Atty. Gen., and Gerald L. Wallace, Edward M. English, and Joseph M. Jones, Sp. Assts. to Atty. Gen., for respondent.

Before GARRECHT, HANEY, and HEALY, Circuit Judges.


GARRECHT, Circuit Judge.

The facts of this case were stipulated by the parties and found by the Board to be substantially as follows:

In 1933 the petitioner, an Hawaiian corporation, having its principal place of business in Honolulu, T. H., acquired certain real estate in the Territory of Hawaii which had an adjusted cost basis in its hands in 1937 of $44,979.48. November 2, 1937, the Territory of Hawaii filed an action in the Territorial Courts to condemn...

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