NATIONAL BANK OF COMMERCE IN MEMPHIS v. UNITED STATES

Civ. No. 1409.

87 F.Supp. 302 (1949)

NATIONAL BANK OF COMMERCE IN MEMPHIS v. UNITED STATES.

United States District Court W. D. Tennessee, W. D.

January 10, 1949.


Attorney(s) appearing for the Case

W. G. Boone, Memphis, Tennessee, for plaintiff.

Theron L. Caudle, Assistant Attorney General, Andrew D. Sharpe and Courtnay C. Hamilton, Special Assistants to the Attorney General, for defendant.


DARR, District Judge.

This action was brought for the refund, with interest, of $3,460.73 of Federal Income Tax paid under protest.

In January, 1933, the Bank of Commerce & Trust Company, a state institution, hereinafter called the Old Bank, was in extreme financial difficulties. After much consideration and effort the persons in control of the Old Bank fell upon the plan of organizing a new national bank. A new bank was organized under the name of National...

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