AMERICAN NATIONAL BANK OF AUSTIN, Plaintiff-Appellant,
v.
UNITED STATES of America, Defendant-Appellee.
United States Court of Appeals, Fifth Circuit.https://leagle.com/images/logo.png
July 10, 1974.
Rehearing and Rehearing Denied October 21, 1974.
Attorney(s) appearing for the Case
Buford P. Berry, J. W. Bullion, Joe A. Rudberg, Dallas, Tex., Sander W. Shapiro, Austin, Tex., for plaintiff-appellant.
Scott P. Crampton, Asst. Atty. Gen., Jerome Fink, Chief, Tax Refund Sec. #2, Meyer Rothwacks, Chief, App. Sec., Tax Div., Dept. of Justice, Washington, D. C., William Guild, Charles G. Barnett, Michael D. Cropper, Tax Div., Dept. of Justice, Dallas, Tex., Louis A. Bradbury, Atty., Tax Div., Dept. of Justice, Washington, D. C., William S. Sessions, U. S. Atty., Hugh P. Shovlin, Asst. U. S. Atty., San Antonio, Tex., for defendant-appellee.
Before BELL, SIMPSON and INGRAHAM, Circuit Judges.
United States Court of Appeals, Fifth Circuit.
Rehearing and Rehearing En Banc Denied October 21, 1974.
PER CURIAM:
In the first appeal in this case, American National Bank of Austin v. United States, 421 F.2d 442 (5th Cir., 1970), we held that taxpayer's role in its municipal bond business was not as an owner of the bonds it handled, but was for tax purposes properly characterized as that of a lender. Absent ownership of the bonds taxpayer was not entitled to exclude...
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