Burroughs Corporation records. Burroughs Adding Machine Company tax appeal
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 Burroughs Corporation.
Dates
- 1930
Creator
- Burroughs Adding Machine Company (Organization)
Language of Materials
English
Access to materials:
Access to the collection is unrestricted.
Copyright:
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).
Historical Note
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."
Extent
1 box (0.2 cubic feet)
Abstract
Collection contains material that describes Burroughs disagreement over tax assessment on its repurchasing and redemption of its own preferred stock during 1924-1930.
Acquisition:
The records were given to the Charles Babbage Institute by Unisys Corporation in 1991, accession 991-35.
- Office equipment and supplies industry -- Taxation. Subject Source: Library of Congress Subject Headings
- Title
- Burroughs Corporation Records. Burroughs Adding Machine Company Tax Appeal, 1930. Finding Aid.
- Author
- Prepared by Susan A. Stepka, September 1995.
- Date
- July 2005
- Language of description
- English
- Script of description
- Latin
- Language of description note
- English
Collecting Area Details
Contact The Charles Babbage Institute Archives Collecting Area
Elmer L. Andersen Library
222 - 21st Avenue South
Minneapolis MN 55455
612-624-5050
cbi@umn.edu
