A. T. Jergins Trust v. Rogan

YANKWICH, District Judge.

This is an action for the recovery of excise taxes imposed on the receipt of dividends by Section 213 of the National Industrial Recovery Act, approved on June 16, 1933, 48 Stat. 206. The plaintiff, A. T. Jergins Trust, is a California business trust created by a declaration entered into on April 3, 1922. Other plaintiffs are trustees and officers of the trust.

Pursuant to the authority conferred by the Declaration of Trust, the Board of Trustees, for ten years prior to the year 1933, had declared and paid monthly dividends from net earned surplus, which, at all times,…