holding that interest paid by the United States on compensation awarded to a railroad for use of its facilities during the First World War was not exempt from taxation under the predecessor of section 103
How later courts described this case
- holding that interest paid by the United States on compensation awarded to a railroad for use of its facilities during the First World War was not exempt from taxation under the predecessor of section 103
- "the term 'obligations of the United States' * * * includes bonds or other similar evidences of indebtedness"
Written by the judges who cited it.
The opinion
Milliken
dissents concerning the loss claimed in connection with the Mena Land & Improvement Co. and concurs in the result concerning the claim that the interest due from the United States was exempt from taxation.