WELSH, District Judge.
This suit was brought to secure a refund of undistributed profit taxes paid by the plaintiff for the years 1936 and 1937. The facts as set forth in a stipulation of the parties are adopted as the findings of the Court. Those essential to a determination of the cause are restated briefly as follows:
1. The Philadelphia Carpet Company is a Pennsylvania corporation organized in 1904 with an authorized capital of $100,000.
2. On...
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