Stutz Motor Car Co. of America v. United States

SPARKS, Circuit Judge.

This appeal involves a refund of income and excess profits taxes for 1917. The District Court rendered judgment for the Government and from that judgment the appeal is prosecuted.

The facts found are substantially as follows: On June 8, 1916, Henry F. Campbell and Harry C. Stutz (who owned seventy-eight per cent of the capital stock of the Stutz Motor Car Company of Indiana) entered into two contracts with Allan A. Ryan (a member of Allan A. Ryan and Company of New York). By the terms of those contracts appellant was to be organized with 75,000 shares of no par value…