Helvering v. Wood

This case, like Helvering v. Clifford, ante, p. 331, is here on certiorari, the problems in the two cases being the same in certain essential respects. In April 1931 respondent, who owned twenty-five shares of stock of Book-of-the-Month Club, Inc., made himself trustee of those shares under an agreement which was to expire in three years 1 or earlier on the death of either him or his wife. By the trust he was to “hold, invest, and reinvest” the shares, to “collect the net income therefrom” and to pay it to' his wife. He had the power to “retain” the stock or to “sell” it or “any part thereof”…