In Re Estate of Cowles

On October 5, 1943, William H. Cowles, as owner of certain capital stock in three newspaper corporations, entered into a contract with his son, William H. Cowles, Jr., the managing head of the corporations, by the terms of which he gave the latter an option to purchase two thousand nineteen shares of the capital stock of the Cowles Publishing Company (publisher of the Spokane Spokesman Review) for one hundred thirty dollars per share; two thousand nineteen shares of the capital stock of the Spokane Chronicle Company for one hundred twenty dollars per share; and fifteen hundred shares of the…