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Amarillo Globe in Amarillo, Texas

12 Jan 1927

Page 12

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Amarillo Globe January 12, 1927 Page 12 old newspaper archives

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Articles on This Page

This newspaper page contains 4 articles. Subscribers can read the full text of each article.

Newspaper

Amarillo Globe

Location

Amarillo, Texas, United States of America

Date

Jan 12, 1927

Page

12

Young Lawyer Faces World’s Largest Tax Suit Over Ford Stock

In Detroit the 27 year old Alexander W. Gregg leads the government in a case seeking about 36 million dollars in taxes on Ford Motor Co stock profits. Opponents include Senator James Couzens and the Dodge estate with top defense lawyers like Joseph E. Davies and John W. Davis. The trial tests revenue valuation and stock date matters, with potential major precedent on reopening tax cases and stock valuation as of March 1 1913.

MENTIONED IN THIS ARTICLE

Washington Detroit Alexander W. Gregg U. S. Treasury United States The Treasury James Couzens Michigan John and Horace Dodge Ford Motor Company Henry Ford Federal Board of Tax Appeals Gregg Sam Internal Revenue Bureau John W. Davis Joseph FE. Davies Britain American Bar Association Young Gregg Texas Palestine Army Treasury Department George Washington University Law School Bureau of Internal Revenue Solicitor's Office Mellon Ned Davies Woodrow Wilson Baltimore Wisconsin Wilson Chicago University of Wisconsin Middle West New Federal Trade Commission Senate Appeal Board Ford Motor Ford Couzens Dodge Estate Uncle Sam Joseph E. Davies Sen John D. Davis
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Tax Dispute Over Stock Sale to Ford Sparks Legal Fight

A 2019 stock sale to Ford for 107 million dollars on 41 percent of a company triggered a 78 percent profit tax after government valuation disputes. The Treasury later revised 1913 value from 9 500 to 3 500 a share, arguing a larger profit tax. Former holders insist they would not have sold without prior tax determination and are appealing.

MENTIONED IN THIS ARTICLE

Ford Treasury Detroit Chicago Wash
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Treasury Could Reopen Tax Records If Gregg Wins

The excerpt suggests that if Mr Gregg and his team succeed, the treasury might reopen tax accounts within the statute of limitations and collect from wealthy individuals again. The tone implies a financial or political struggle involving tax collectors and wealthy targets.

MENTIONED IN THIS ARTICLE

Ington New York Mr. Gregg Treasury
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Voices on Verdicts and Dangers Surround Hassell Trial

In brief exchanges a caller asks about a Hassell murder verdict while Jean Warren fears the smallpox epidemic and plans a vaccination. E A Blatchley reports his wife recovering after a coyote attack near the Sixteenth Street fire station yesterday.

MENTIONED IN THIS ARTICLE

Hassell Jean Warren E. A. Blatchley Sixteenth Street
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Also Mentioned on This Page

Reserve District First National Bank Federal Reserve Bank U. S U.S Dodge Horace Rackham Gray Estates John Anderson Amarillo Bank & Trust CO Amarillo State of Texas Postal Savings Wallebdale Total Savings Department Potter H. KE. Fuqua H. E. Fuqua W. H. Fuqua M. E. Fuqua J. H. Chesnutt Kenyon American State Bank of Amarillo National Bank County of Ray Wheatley C. M. Humphry Co. M. Humphry Cashier A. D Bess L. Rorex Potter County Chas A. Fisk Avery Turner J. S. Chesnutt Banking House Ss. I S. D. Vaughan D. Vaughan B.T. Ware C. T. Ware R. C. Ware Adra Lamons State of J. H. Paul C. H. Keeney F. M. Butler G. D. Bowie Chas Dammeier Dorothy Wagerle National Bank OF Commerce J. T. Glover John A. Monroe T. E. Durham C. B. Reeder E. W. Hardin iExchange National Bank Tulsa Okla Oil Bank of America Sievere Cash & Sight Exchange Your City Hudson-Essex 11Th and Polk Streets Polk Sts
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