BOWERS v. TAFT

Nos. 280, 294.

20 F.2d 561 (1927)

BOWERS, Collector of Internal Revenue, v. TAFT (two cases). SAME v. GREENWAY (two cases).

Circuit Court of Appeals, Second Circuit.

July 5, 1927.


Attorney(s) appearing for the Case

Charles H. Tuttle, U. S. Atty., of New York City (Samuel C. Coleman, Asst. U. S. Atty., of New York City, of counsel), for plaintiff in error.

Cadwalader, Wickersham & Taft, of New York City (Henry W. Taft and Clarence Castimore, both of New York City, of counsel), for defendant in error Taft.

Baldwin, Hutchins & Todd, of New York City (Robert A. Young and E. Raymond Shepard, both of New York City, of counsel), for defendant in error Greenway.

Before MANTON, L. HAND, and SWAN, Circuit Judges.


MANTON, Circuit Judge.

These cases were argued together and will be considered in one opinion. The defendant in error Mrs. Taft received a gift from her father of 150 shares of the common stock of the Nash Motors Company — 100 shares in December, 1921, and 50 shares in March, 1922. They were transferred on the books of the corporation in her name on December 26, 1922, when she became the record owner thereof. They were obtained by her father as a bonus in connection...

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