LILIENTHAL v. COMMISSIONER OF INTERNAL REVENUE

No. 7788.

80 F.2d 411 (1935)

LILIENTHAL v. COMMISSIONER OF INTERNAL REVENUE.

Circuit Court of Appeals, Ninth Circuit.

December 5, 1935.


Attorney(s) appearing for the Case

John C. Altman, and Richard S. Goldman, both of San Francisco, Cal., for petitioner.

Frank J. Wideman, Asst. Atty. Gen., and Sewall Key and Maurice J. Mahoney, Sp. Assts. to Atty. Gen., for respondent.

Before WILBUR, MATHEWS, and HANEY, Circuit Judges.


MATHEWS, Circuit Judge.

Petitioner's wife, Ruth H. Lilienthal, owned 4,400 shares of stock of Southern California Gas Company, a California corporation, which she acquired at a cost of $16,500, and which in 1927 she exchanged for cash in the sum of $260,609.12 and bonds of Southern California Gas Corporation, a Delaware corporation, having a par value of $339,500 and a fair market value of $312,340. The bonds were not sold or disposed of by her in 1927. In a joint...

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