Hamilton Nat. Bank v. United States

TAYLOR, District Judge.

The sole question presented for decision is whether certain papers issued by plaintiff and designated “participating certificate” with interest coupons attached were corporate securities within the provisions of section 800 and Schedule A(l), title 8, of the Revenue Act of 1926, as amended by section 721 (a) of the Revenue Act of 1932 (26 U.S.C.A. § 901 and § 900 note).

If the papers so issued were such securities within the meaning of the act, the tax already paid thereon under protest was properly collected, and the suit should be dismissed. If, on the other hand, the…