St. Louis Refrigerating & Cold Storage Co. v. United States

GARDNER, Circuit Judge.

This was an action brought by appellant to recover $4-,572.32, being a portion of the income taxes assessed against and paid by it for the year ending April 30, 1942. On trial the court entered judgment denying recovery and from the judgment so entered this appeal was taken. The parties will be referred to as they were designated in the trial court. The facts were stipulated and found by the court as stipulated.

In January, 1932, one J. C. Walton, being indebted to plaintiff in excess of $25,000, gave his five promissory notes of $5,000 each, due two, three, four, five…