Yates v. McGowan

ENIGHT, District Judge.

It has been stipulated that the issues of law and fact herein be determined by this court. The action is brought, as authorized by Section 24, subd. 5 of the Judicial Code and Judiciary, 28 U.S.C.A. § 41, subd. 5, to recover taxes assessed and collected from the plaintiff by the defendant under the provisions of the Internal Revenue Act of May 29, 1928, Chap. 852, 45 Stat. 791-883, Section 101, 26 U.S.C.A. Int.Rev.Acts, page 370.

In and prior to October, 1927, the plaintiff owned 11,915 shares of stock of the Buffalo Union Furnace Company (hereinafter called Union), a…