In re the Estate of Phelps

Cohalan, S.

These are cross-appeals by the executor and state tax commission from the order fixing the transfer tax.

The commission appeals on the ground that shares of stock of the Broadway and Seventh Avenue Company and Sixth Avenue Company have been undervalued by the appraiser.

The appeal of the executor is based on the failure of the appraiser to allow in full the funeral expenses from the property of decedent located within this state, and his inclusion among the taxable assets of subscription rights on shares of stock in the National City Bank.

The appraisal of the stock in the two…