Case Name: Appeal of PAUL STARRETT
Court: United States Board of Tax Appeals
Jurisdiction: United States
Decision Date: 1926-07-27
Citations: 4 B.T.A. 398
Docket Number: Docket No. 6567
Parties: Appeal of PAUL STARRETT.
Judges: Before Sternhagen and ARundell.
Reporter: Reports of the United States Board of Tax Appeals
Volume: 4
Pages: 398–399

Head Matter:
Appeal of PAUL STARRETT.
Docket No. 6567.
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.
ARuNdell
: For the reasons set forth in the Appeal of Walter T. Smith, this day decided, cmte, 397, we are satisfied that the value of the bonds of the Bowman Hotel Corporation, when received by petitioner in May, 1919, was not to exceed 50 per cent of the face value of the securities.
Order of redetermination will be entered on 15 days'1 notice, under Rule 50.