Petitioner seeks a redetermination of an estate tax deficiency of $8,028.27. The sole issue is whether the respondent erred in determining that the fair market value of 3,100 shares of class A common stock of the Hobart Manufacturing Co. was $155,000, or $50 per share, at the time of decedent's death on October 1, 1940. The case was submitted on oral testimony, documentary proof, and exhibits.
FINDINGS OF FACT.
The decedent, Caroline McCulloch Spencer, died...
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