White Brothers Lumber Co. v. Corporation Tax Appeal Board

This is certiorari to the corporation *275tax appeal board. Plaintiff is a Michigan corporation, with $1,822,908.75 of its capital paid up and a surplus of $3,468,616.75. Included in the surplus is $1,100,000, the value of shares of stock owned by plaintiff in the Beaver Cove Lumber & Pulp Company, of British Columbia, a corporation subsidiary to plaintiff. Plaintiff also owns water power rights, timber and timber licenses in British Columbia. The entire capital of plaintiff company was originally invested in timber land, mill site and water power in British Columbia.

In 1918, some of the…