BARD, District Judge.
The plaintiff has instituted this action to recover $3,661.15, together with interest thereon from October 15, 1938, which amount was the tax on a profit of $12,979.07 realized on the sale of certain securities during the year 1935. The defendant included this amount in the plaintiff's taxable income for that year. It is the plaintiff's contention that this was unwarranted, that no profit accrued to him, because he held the securities in trust...
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