West Texas Refining & D. Co. v. Commissioner of Int. Rev.

I am unable to join in the conclusion reached by the majority respecting No. 816.

The facts are that under date of June 2, 1925, West Texas Refining '& Development Company, Hiekok Producing Company, J. S. Anderson, A. S. Close, A. S. Hiekok, and L. H. Prichard, on the one hand, and Standard Oil Company of California, on the other, entered into a written contract. Hiekok and Anderson were president and secretary, respectively, of West Texas Company, also of Anderson-Priehard Oil Corporation, a stockholder in West Texas Company. Hiekok and Close were president and secretary, respectively, of…