Burroughs Corporation Records.
Burroughs Adding Machine Company Tax Appeal, 1930. Finding Aid.
records. Burroughs Adding Machine Company tax appeal
Burroughs Adding Machine Company
1 box (0.2
CBI 90, Series 99
Collection contains material that describes Burroughs
disagreement over tax assessment on its repurchasing and redemption of its own
preferred stock during 1924-1930.
Minnesota Libraries. Charles Babbage Institute.
Access and Use
The records were given to the Charles Babbage Institute by Unisys
Corporation in 1991, accession 991-35.
Access to the collection is unrestricted.
The Charles Babbage Institute holds the copyright to all materials in
the collection, except for items covered by a prior copyright (such as
published materials). Researchers may quote from the collection under the fair
use provisions of the copyright law (Title 17, U.S. Code).
Burroughs Corporation Records, Burroughs Adding Machine Company Tax
Appeal (CBI 90), Charles Babbage Institute, University of Minnesota,
In 1930, Burroughs protested an additional assessment, on basis of
Redemption Value of preferred stock being a cash dividend, that was levied on
them. In July 1924, Burroughs began purchasing its own outstanding preferred
stock. In September 1926, the money acquired this way was called for
redemption. All of it was not actually redeemed until 1928, and it was then
retired at $105 per share. Burroughs argued the value of the redemption should
not have an additional assessment.
"The redemption of the preferred stock of the Burroughs Adding Machine
Company appears to fall squarely under the provisions of Section 201(g) of the
Revenue Act of 1926."
Collection Scope and Content Note
The collection contains material that describes the situation,
correspondence, several reports, and several graphs and charts documenting
Burroughs' financial situation during the years 1924-1930.
This is one series of the Burroughs Corporation Records (CBI 90).
Please see the other series finding aids for further information regarding the
- This collection is indexed under the following headings in the catalog
of the University of Minnesota Libraries. Researchers desiring materials about
related topics, persons or places should search the catalog using these
Adding Machine Company -- Finance.
- Office equipment and supplies
industry -- Taxation.
Box and Folder List
Tax Appeal, 1930. Box 1, Folder 1