STOCK YARDS NAT. BANK v. COMMISSIONER OF INT. REV.

No. 13679.

169 F.2d 39 (1948)

STOCK YARDS NAT. BANK OF SOUTH ST. PAUL v. COMMISSIONER OF INTERNAL REVENUE.

Circuit Court of Appeals, Eighth Circuit.

August 18, 1948.


Attorney(s) appearing for the Case

Grant W. Anderson, of Minneapolis, Minn., for petitioner.

Harry Marselli, Sp. Asst. to Atty. Gen. (Theron Lamar Caudle, Asst. Atty. Gen., and Sewall Key and Helen Goodner, Sp. Assts. to Atty. Gen., on the brief), for respondent.

Before THOMAS, JOHNSEN, and RIDDICK, Circuit Judges.


RIDDICK, Circuit Judge.

This is the second petition to review a decision of the Tax Court in this case.

In March 1938, petitioner, through a corporate reorganization as defined in section 112(g) (1) (C) of the Revenue Act of 1938, 26 U.S.C.A. Int.Rev.Code, § 112(g) (1) (D), acquired two farms, known as the Stebbins and McBride farms, from the Stock Yards Mortgage Company. The mortgage company acquired the McBride farm in 1932 at a foreclosure sale at...

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