In re the Appraisal, under the Tax Law, of the Estate of Proctor

Smith, G. H., S.

The appraiser, in his original report in this proceeding, appraised the stock of the Singer Manufacturing Company owned by deceased at $1,100,400. In his supplemental report on a subsequent appraisal he has fixed the value of the same stock at $2,695,980, the original appraisal being at par and the subsequent appraisal at $245. Counsel for the executors contend that this valuation is excessive and the principle adopted by the appraiser, in reaching it, erroneous. The Comptroller introduced evidence of certain sales of this stock in the city of Mew York and quotations of the…