Lowry v. Collector of Internal Revenue

Plaintiff brought suit in circuit court to set aside a gift of corporate stock made by him to his wife, the defendant Sara H. Lowry, in May, 1937, and for incidental relief by way of an accounting. The bill of complaint, which was filed December 12, 1946, alleges that the parties intended that the shares of stock should become the sole and separate property of the donee, that she should have all rights of ownership and control over them, and the incidental right to receive the income therefrom or from any other property into which the shares might be converted. It was further alleged in the…