UNITED STATES v. ARCHER-DANIELS-MIDLAND COMPANY

No. 15539.

243 F.2d 130 (1957)

UNITED STATES of America, Appellant, v. ARCHER-DANIELS-MIDLAND COMPANY, a corporation, Appellee.

United States Court of Appeals Eighth Circuit.

April 11, 1957.


Attorney(s) appearing for the Case

Karl Schmeidler, Atty., Dept. of Justice, Washington, D. C. (Charles K. Rice, Asst. Atty. Gen., Lee A. Jackson and Robert N. Anderson, Attys., Dept. of Justice, Washington, D. C., George E. MacKinnon, U. S. Atty., and Alex Dim, Asst. U. S. Atty., St. Paul, Minn., on the brief), for appellant.

George D. McClintock, Jr., Minneapolis, Minn. (Hayner N. Larson, Minneapolis, Minn., on the brief), for appellee.

Before GARDNER, Chief Judge, WOODROUGH, Circuit Judge, and DONOVAN, District Judge.


GARDNER, Chief Judge.

Taxpayer, a Delaware corporation, on June 20, 1949, pursuant to resolution of its board of directors transferred from its capital surplus account the amount of $1,269,706.49 and from its earned surplus account the amount of $21,688,254.55 to its capital stock account, which transfer resulted in making its capital stock account $32,694,960. It issued no additional stock or shares to its stockholders. Following this transaction and on or about...

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