J. SPENCER BELL, Circuit Judge.
This case involves an asserted income tax deficiency for the year 1957. Since May 1954, taxpayer has been a director of the New York Central Railroad Company and has regularly attended meetings of its Board, for which he has received $2,400.00 annually. Central is one of the largest railroad systems in the United States, having assets of about $2,600,000,000.00.
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