Glenn v. Louisville Trust Co‪.‬

The only problem posed by this appeal is whether a loss by John B. Pirtle, deceased, of Louisville, Kentucky, or his estate, through the unauthorized and improvident investment of his money in and the exchange of his securities for shares of Banco-Kentucky stock, by an agent or trustee was suffered in Novembe, 1930, when Banco became insolvent and was placed in the hands of a receiver, or whether it was suffered in 1933 when Pirtles representatives succeeded in securing a settlement from the agent. The suit below was for the recovery of an overpayment of taxes for 1933 after timely claim for refund, and, in a trial to the court without a jury, resulted in a judgment for the taxpayer, from which the Collector appeals.