Great was the to-do in 1933 when John Pierpont Morgan and his banking partners were discovered to have paid no income taxes for the years 1931 and 1932.* Franklin Roosevelt's legislators were put to work and the next year, restricted in their use of capital losses, Morgan & Co. paid heavily. They paid, but they appealed, and in due time the Bureau of Internal Revenue ruled in their favor. Last week the Treasury announced their refunds, as follows:
J. P. Morgan $338,774.25
Thomas W. Lament 138,783.45
R. C. Leffingwell 80,254.53
Junius S. Morgan 45,231.73
George Whitney 44,587.25
Estate of Thomas Cochran 49,138.78
Estate of E. T....
