Case Name: Appeal of JAMES BAIRD
Court: United States Board of Tax Appeals
Jurisdiction: United States
Decision Date: 1926-07-27
Citations: 4 B.T.A. 399
Docket Number: Docket No. 9393
Parties: Appeal of JAMES BAIRD.
Judges: Before Sternhagen and Arundell.
Reporter: Reports of the United States Board of Tax Appeals
Volume: 4
Pages: 399–400

Head Matter:
Appeal of JAMES BAIRD.
Docket No. 9393.
Decided July 27, 1926.
J. S. Y. Ivins, Esq., for the petitioner.
Geo. G. Witter, Esq., for the Commissioner.
Before Sternhagen and Arundell.

Opinion:
OPINION.
Aetjndell:
For the reasons set forth in the Appeal of Walter T. Smith, this day decided, ante, 897, we are satisfied that the value of the bonds of the Bowman Hotel Corporation, when received by the petitioner in June, 1919, was not to exceed 50 per cent of their par value. No evidence was offered as to the value of the notes of the Central Building Co. and the finding of the Commissioner is consequently approved.
Order of redetermination will be entered on 15 days' notice, under Rule 50.