NEWELL v. COMMISSIONER OF INTERNAL REVENUE

No. 4870.

66 F.2d 102 (1933)

NEWELL et al. v. COMMISSIONER OF INTERNAL REVENUE.

Circuit Court of Appeals, Seventh Circuit.

July 7, 1933.


Attorney(s) appearing for the Case

W. E. Clark, of Bedford, Ind., and Sterling Newell, of Cleveland, Ohio (Squire, Sanders & Dempsey, of Cleveland, Ohio, and Clark & Brooks, of Bedford, Ind., of counsel), for petitioners.

G. A. Youngquist, Asst. Atty. Gen., and Sewall Key and John MacC. Hudson, Sp. Assts. to Atty. Gen., for respondent.

Before ALSCHULER, EVANS, and SPARKS, Circuit Judges.


EVANS, Circuit Judge.

The instant appeal involves the correctness of the assessment of a $20,259.52 deficiency in the estate tax of Charles C. Ingalls, deceased. Petitioners' attack is directed to a single issue, one of fact, to-wit, the value of decedent's 3,281 shares of common stock of the Ingalls Stone Company.

The facts: Decedent died October 24, 1928, owning 2,258 shares of the preferred stock and 3,281 shares...

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