GRIFFITHS DAIRY v. SQUIRE

No. 10410.

138 F.2d 758 (1943)

GRIFFITHS DAIRY, Inc., v. SQUIRE, Collector of Internal Revenue.

Circuit Court of Appeals, Ninth Circuit.

November 5, 1943.


Attorney(s) appearing for the Case

Austin E. Griffiths, of Seattle, Wash., for appellant.

Samuel O. Clark, Jr., Asst. Atty. Gen., Sewall Key, A. F. Prescott, S. Dee Hanson, and Irving I. Axelrad, Sp. Assts. to the Atty. Gen., J. Charles Dennis, U. S. Atty., and Thomas R. Winter, Sp. Asst. to Chief Counsel, Bureau of Internal Revenue, both of Seattle, Wash., and Harry Sager, Asst. U. S. Atty., of Tacoma, Wash., for appellee.

Before GARRECHT, STEPHENS, and HEALY, Circuit Judges.


STEPHENS, Circuit Judge.

Taxpayer appeals from a District Court judgment in favor of the Collector of Internal Revenue.

Austin E. Griffiths, Jr., and his wife owned a dairy business which had assets valued at $60,685 and consisting of milk routes and dairy equipment. The business was incorporated on July 5, 1940, with an authorized capital of $50,000, represented by 14,000 shares of no par value preferred stock and 36,000 shares of no par value common stock...

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