September Mr. J. BE. Russell, Browning St. Dear 1, 1939 Vice-President, Arms Company, Louis, Missouri. John: August Wish to thank you 1939 referring us to 29, very much for your letter dated the case of Albrecht vs. Landy. it is my intention to more thoroughly discuss this case with Roy Thatcher upon his return. At the time it came through we both remarked that it was one paralleling our case. There is one point, however, which is to our advantage and that change is that assets application of we not organize a new its stock. It seems to Section 619(b) is in our for did In our particular corporation me that here fifteen informative. to m2 that ex- the favor. Tax Service pages are covered in a memorandum citing cases porate entity", “fair market price", etc., all very and also full regarding “corof which is ‘ While I may be wrong in my conclusion, there are a number of points in this case it seems which con- sidered with the oil cases and others, and especially the one Mr. A. T. Glark mentioned, the Pickwick Stage case, I believe, give us considerable hope for our own case. Will ing with write you of Roy's reaction, after talk- hin. Just as soon as Roy Thatcher returns from his vacation he intends to call Mr. Clark at Washington. It is our thought that every effort should be made to hurry up a settlement in this case and believe that we are all working toward that end. The European situation seems to have come to a head and within the next week we should all know just how far it will spread. Sincerely yours,