Bird & Son, Inc. v. White

BREWSTER, District Judge.

This is an action to recover income and excess profits taxes, paid by the plaintiff for the years 1918, 1919, and 1920. The case was heard without jury, upon stipulated facts, from which it appears that the plaintiff was incorporated under the laws of Massachusetts, on May 10, 1918, as the Paper Box Company, with an authorized capital stock of $6,000,000 divided into 20,-000 shares of preferred; 30,000 shares of second preferred, and 10,000 shares of common, all of the par value of $100 each; that each of three incorporators subscribed for 2,500 shares of preferred…