Morgan v. Wisconsin Tax Commission

The following opinion was filed January 10, 1928:

Crownhart, J.

The facts are stipulated. The Morgan Company is a domestic corporation; the plaintiff was a stockholder thereof, owning 1,908 shares out of 3,886 shares of the outstanding stock; both were domiciled in Winnebago county; the Morgan Company, on January 1, 1911, and prior thereto, owned shares of stock in five subsidiary foreign corporations, of the par value of $369,100, at which value they thus were carried on the books of the Morgan Company as assets, but their fair market value on that date was $509,347.64; on May 25, 1917, the…