PHILLIPS v. GNICHTEL

No. 3753.

27 F.2d 662 (1928)

PHILLIPS, et al. v. GNICHTEL, Collector of Internal Revenue.

Circuit Court of Appeals, Third Circuit.

July 26, 1928.


Attorney(s) appearing for the Case

Phillips & Avery, of New York City, for plaintiff in error.

Earl A. Darr, of New York City, in pro. per.

Walter G. Winne, U. S. Atty., of Hackensack, N. J., and James S. Turp, Asst. U. S. Atty., of Trenton, N. J. (Ottomar Hamele and C. M. Charest, both of Washington, D. C., of counsel), for defendant in error.

Before BUFFINGTON, WOOLLEY, and DAVIS, Circuit Judges.


WOOLLEY, Circuit Judge.

Henry P. Kraft was about to die. His doctor had so advised him. He was a man of large means, and Katherine, his wife, also was very well off. They had children living.

When informed of impending death Henry Kraft deemed it imperative at once to put his affairs in order, particularly that part of them which consisted of stock in a corporation known as A. Schrader's Sons, Inc. His wife also owned some of its shares in her own right. Although...

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