Clabby's Estate

Opinion by

Mr. Justice Kephart,

Thomas F. Clabby, appellant, inherited from his brother 8,685 shares of stock of the Texas & Pacific Bail-way Co., which he owned at the date of his death on July 21, 1922. The New York Stock Exchange quoted the stock on the day following decedent’s death at “low, 29, high, 29y2,” and, for the purpose of the State’s inheritance tax, it was appraised at $29 a share. Thomas F. Clabby, being dissatisfied with this appraisement, appealed to the orphans’ court under the Act of 1919, to determine all questions relating to this valuation, as it had the power to do,…