Page:United States Statutes at Large Volume 44 Part 2.djvu/52

 I2 SIXTYQ-NIN’DH CONGRESS. Sess. I. Cu. 27. 1926. ,"°'”°,m_`{*'· _ ·(l) Proper  shall be maderfor an e enditurcor `teni NAM- d an of loss  ehsrggzblelwicapitd accountysnflps- I {,*}*,,,3; (9)~— ~ ’ dull  bythe amount of the deductions mr few exhaustion, we•r·=•¤1d·;teer,j(~obsoleso•uoe% amortization, and  >dc¤j\isitiun’=o ‘ the e   been .   ·· ·* ·*     ‘ ramoun · ¤ 1 1 mmm ~······~··~   ‘{.§"i'..., ft.;'%°¥§.£§‘i}’°t*i2?,' ‘“““”‘€”’§f$;°§’?§§.?”;2""“‘°  _,   ( ‘0   eioéedist letion&drid:¤etio¤oomp¤ted." writboms ly " ‘   ,_ ounce to gliscovery va1ue§§to—»pangreph ,(2)‘o(_ subdivision Mm ‘°‘‘ · §?Z·;3§ “£“`}‘5‘}é“°’$.  %‘z"é°‘§2§£ “l§“’°{’t?”‘¥£‘;';°’ “°°L.“j2`d iL‘°““’ "   yy ,e~ s` 1 _re K ans e·. ( mar ~v¤ e as or  g1; _1913) ‘shal1— be   vim the amount of exhaustion, $rbg;i!¥3.n& t?&t·,_obpol€ocenoe,‘$ind depletion actually sustained before §u(§ jpg; !‘*i=·f 1* "?.$    ’ #!=;=   i··     `.1 ·;  ‘ p.:$Z`y.°°`°’ °°°" °{ E2   !ro1n;the(:saleior»other elisposition of    V t A ( pr0&e°1:y·r=¤hal%i%b;shthe sum,eio§at?1i1;rv.¤tilouey’,omce1;ed> plus the fan- yz (Za mh it  ;,e~V if e>   is 0 ’r imrmoney received] ,`  ¤·¤e•¤e<···e¤¤¤·¤¤·a   (oy Iuittgc cess foFsLsq,1s—oi;1exehsnge,-the~sxtent.reo zwhibh me > ~   lossgdeterinihed under&this‘=sect1on·shul1 be recognized? for I, f %P“ f'§*hih’tm6»‘ $h¤H·=`b¤ ddibxmined .under·thegvvpmvigi0n¤ nm. 5 gg5§(¤· ¢   ~> e; »; s.   ·   . ,;   spam   v ..,£}.‘€,‘é‘22.’§‘,t,‘?" "°" ‘(e*)3*=;`*“*'¥i¤   if ’% ’<·* ·»     ·% rei {I.   Ei` Wi';      c       *rii>coc1·i*rr1oz¢~?cvr·‘cAr1¤·joa wssrecau suesinn nxmunems . ‘ (  so ·»»» ;..»»’     ·v no Mr"; "*<¤   ~·, ··.» ,* ·*~ W"; »·   ( JU i  s e xdunge. f rthth ( ti “"°" v mms04si3’gts€?“§»ns. mdB%i1;s "‘t.s"*’?.ei§s, §ti§‘1.t’§ _ _ rece ° ~oxmpt4§s& ` wr ( ¤in.· `" ` `onzm;   §£’£$$liZi'.ih¤u· (bi (1), No gainrov     pnopertyepheld °‘"""‘{*?,j Q   it ,1 for   lwowin hadn »or  or forwinvestment 2(not Emwm · · · inchz@ing<ristock~.·in*¤trade »br¤ other xprepertyi ¤held g¤·11n•1:11.y· for ' s¤le,¥·no1·‘stoeks, bcnds;»notés,=clioses_%1g1 ection,gcerti catespof trust or   or other 88G\1l‘1t10S¥0l! ev1dences:0f—r#m<i¤bted- ness e or interest) is jexchengedy solely.  property 'of.; •;like»kind ' to 4be ·hold·{ie1ther?·£or productive useoiu trade 0I‘=b‘¤S11'1'&··0I'=f0l’ Foxxsimilar msu in §¤veet:nent,i6r ifcornxnon stock»in=i·corporation:is.exchangogl» solel "“°°°°"’°"'°‘°?‘   common   xnigheéséme iprgioration,  ypreferrgg smc; n~3ecorporst1_ onisexc an so_ yp or   - mj same BJ- ’  V  - iii J icy ~C=:— . gt. Z,?z,,·»i=;4 ,,;,°$§,*Q{{’§°,;§'°° °”'°' _ 22) No   or loss shall be   if, stock»·or·:securit.ies. in    · J .. eco twn»a= . to a:reorgr£mzat1on».are,=1ni· ursuance of the ( n><¤·· rw? . .. . y P . y . . . ' ( p1;§n,.`ex;¤%‘n‘!mgod— sorl:g_y.fo1·   &rtg,cur1Lies_ in su corporation or 1n¢ano or corpo ion arpa y.» reorgani- “ti(m· `·~.{' ’ V '·,_` _— ·?*Z   @4* ’ .. I =e; ~>   4: ·’ p.i—’{}”$t ¤°ii (3) No gain or loss shall be recognizecl if la corporation a party to a reorgamzatxon exchanges property, in pursuance of the plan of reorganizatio1;:» solely for stock or securities in another corpora- y t` rty to t e reor nization. m§,;¤g¥{,g,‘;fd§,°;¥¤‘,§ rl§(34;i§So gain orloes sguall be recognized if progarty is transferred ¤¤¤=~¤- to»a eoiporation by one- or~more~persons sole inexehsnge for stocker seculrptnes in such corporation, and xrpmézdhigxtely after the exchan (suc erson»orKerso> nsiare in contre —o coo oration· mu°°“°°‘ but in gihe casepof an exc ange by two or more pemons ltiiis para; graph shall apply only ifthe amount of the stock and securities received by each is substantially in proportion to his interest in the property prior to the exchange.