BAKER v. COMMISSIONER OF INTERNAL REVENUE

No. 121.

80 F.2d 813 (1936)

BAKER v. COMMISSIONER OF INTERNAL REVENUE.

Circuit Court of Appeals, Second Circuit.

January 6, 1936.


Attorney(s) appearing for the Case

J. Nelson Anderson, of Washington, D. C. (Stanley Worth, of Washington, D. C., of counsel), for petitioner.

Frank J. Wideman, Asst. Atty Gen., and Sewall Key and Ellis N. Slack, Sp. Assts. to the Atty. Gen., for respondent.

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


CHASE, Circuit Judge.

The petitioner is the executor of the estate of George F. Baker, Sr., a former resident of the city of New York, who died May 2, 1931. The controversy relates to the income taxes of the decedent for the taxable year 1926. He will be referred to as the taxpayer.

In that year he owned 5,000 shares of the capital stock of the New Jersey General Security Company which he had acquired in 1894 at a price which was not less than the March 1...

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