Bruce v. Helvering

GRONER, Associate Justice.. In January, 1928, E. E. Bruce & Co. was a Nebraska corporation conducting business in Omaha in that state. Its capital structure consisted of 2,380 shares of common stock. Petitioner owned 700 shares, her sister owned 700 shares, and the remaining 980 shares were owned by employees and for-> mer employees of the corporation. The Board found as a fact that petitioner and her sister, as of the time mentioned, desired to sell a part of their Bruce stock, in order to reduce their investment in that company and bring it more in line, as to amount, with their other…