MINTON, Circuit Judge.
In 1935 Eric E. Hall, one of the petitioners herein, was the owner of 495 shares of the preferred and 4,500 shares of the common stock of the Chicago Stadium Corporation. The stock had cost him $41,252.50, which sum he deducted from the Federal joint income tax return of himself and his wife, as a loss incurred in 1935 because the stock was worthless. The Commissioner of Internal Revenue disallowed the deduction, and determined a deficiency...
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