Logan v. Commissioner of Internal Revenue

MANTON, Circuit Judge.

Prior to March 1, 1913, and until March 11,1916, the petitioner owned 250 shares, and her mother l,180 shares of the stock of the Andrews & Hitchcock Iron Company which had, as its capital structure, 4,000 shares of capital stock issued and outstanding. Andrews & Hitchcock Iron Company held a 12 per cent, stock interest in the Mahoning Ore & Steel Company. This latter company controlled, by a lease of 97 years from April, 1895, an iron ore mine—the Mahoning Mine —located on the Mesaba Range in Minnesota. It was an operating company, and mined the ore which it distributed…