Hammermill Securities Corp. v. Noel

PAUL, District Judge.

This is a suit for a refund of deficiency income and profits tax for the -year 1918, alleged to have been assessed against and paid by the plaintiff. A jury was waived and all questions of law and fact have been submitted to the Court. ■

The Hammermill Securities Corporation was incorporated in Virginia in 1916. It was a holding company and its only capital assets consisted of the entire outstanding stock of the Hammermill Paper Company, a Pennsylvania Corporation, engaged in the manufacture of paper. For the sake of brevity, these corporations will be referred to…