Richardson v. Commissioner of Internal Revenue

FRANK, Circuit Judge.

These cases are companions and were argued together. The evidence in the case of H. Smith Richardson and in that of Lunsford Richardson was substantially the same. We shall, for convenience, consider them together.

Early in 1932, Lunsford Richardson and his brother, H. Smith Richardson, were the owners of many shares of Vick Finan cial Company, a Delaware Corporation. They were also the owners of all the shares, and were respectively president and vice-president, of Piedmont Financial Company (a New York Corporation with its offices in New York), which handled matters for…