BRUCE v. UNITED STATES

Civ. A. No. 66-H-285.

279 F.Supp. 686 (1967)

Homer L. BRUCE, Jr. and wife, Constance H. Bruce, Plaintiffs, v. UNITED STATES of America, Defendant.

United States District Court S. D. Texas, Houston Division.

November 21, 1967.


Attorney(s) appearing for the Case

Baker, Botts, Shepherd & Coates, Wm. C. Griffith, Houston, Tex., for plaintiffs.

Frank C. Cooksey, Asst. U. S. Atty., Houston, Tex., and Leonard B. Tatar, Atty., Tax Div., Dept. of Justice, Fort Worth, Tex., for defendant.


CONNALLY, Chief Judge.

MEMORANDUM:

The plaintiffs, Homer L. Bruce, Jr. and wife, seek to recover $16,633.49 in federal income taxes paid for the year 1962. In issue is the character of loss— whether capital or ordinary—sustained by plaintiff when stock owned by him in HLB Corporation became worthless during the tax year. The case was submitted largely on stipulated facts and documentary evidence, the only oral testimony being that of the plaintiff...

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