CENTRAL SAVINGS ASSOCIATION v. HOOKS

Civ. No. 8186.

188 F.Supp. 654 (1960)

CENTRAL SAVINGS ASSOCIATION, a corporation, Plaintiff, v. Gilbert C. HOOKS, District Director of Internal Revenue, Defendant.

United States District Court N. D. Ohio, W. D.

September 29, 1960.


Attorney(s) appearing for the Case

Oren E. Dickason, Lima, Ohio, for plaintiff.

Howard A. Heffron, Acting Asst. Atty. Gen., James P. Garland, Rufus E. Stetson, Jr., Robert H. Kapp, Attys., Dept. of Justice, Washington, D. C., Russell E. Ake, U. S. Atty., Cleveland, Ohio, Carl F. LaRue, Asst. U. S. Atty., Toledo, Ohio, for defendant.


KLOEB, District Judge.

The facts in this case have been stipulated. The question presented is whether the plaintiff taxpayer a State Savings and Loan Association, is entitled to deduct mandatory additions to its loss reserves, under Section 593, Internal Revenue Code of 1954, 26 U.S.C.A. § 593, or, to be more explicit, can the taxpayer make annual additions to its Federal insurance reserve account and to its State reserve account as required by the rules and...

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