In Re Magnolia Petroleum Co.

This cause was submitted to the Court of Tax Review on a stipulation as to the facts, which were as follows:

“It is stipulated and agreed that the. excise board of Oklahoma county made an appropriation for the fiscal year beginning July 1, 1928, and ending June 30, 1929, for county highway purposes of $484,735, and that there was added 10 per cent, for delinquent taxes, in the sum of $48,473.50, or a total of $533,208.50.

“It is further agreed that there was on hand at the time said appropriation was made in said county highway fund a surplus r’evenue from the. previous year of $70j-766.02, and…