Piggly Wiggly Corp. v. Commissioner

*416OPINION.

Lansdon:

In their stipulation of facts the parties to this dispute have agreed that the petitioner suffered losses of various characters in the aggregate of $2,137,155.84 and that this sum is composed of items which they have classified in three groups, as follows:(a) $201,433.48 represents the so-called misappropriated or embezzled funds not discharged in bankruptcy.(b) $700,216.52 represents the amount that the court held was legally expended by Saunders on marginal accounts for the petitioner, which subsequently became lost.(c) $1,235,505.84 represents the amounts expended by…