BEDFORD v. COMMISSIONER OF INTERNAL REVENUE

No. 157.

150 F.2d 341 (1945)

BEDFORD v. COMMISSIONER OF INTERNAL REVENUE.

Circuit Court of Appeals, Second Circuit.

July 12, 1945.


Attorney(s) appearing for the Case

Hunt, Hill & Betts, of New York City (Holt S. McKinney, of New York City, of counsel), for petitioner.

Samuel O. Clark, Jr., Asst. Atty. Gen., and Sewall Key, Helen R. Carloss, and Bernard Chertcoff, Sp. Assts. to Atty. Gen., for respondent.

Before SWAN, CHASE, and FRANK, Circuit Judges.


SWAN, Circuit Judge.

The petitioner is one of several income beneficiaries named in each of five trusts which owned shares of the 7% cumulative preferred stock of Bush Terminal Buildings Company (for brevity hereafter called Buildings). This stock was guaranteed as to dividends and as to payment of par value upon dissolution by Bush Terminal Company1 (for brevity hereafter called Terminal) which was the sole common stockholder of Buildings...

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