State v. Lemke

Bertha E. Lemke died on March 21, 1927. Among the assets of her estate were 3,667 shares of common stock of the Underwood Veneer Company, a Wisconsin corporation. The par value thereof was $100 per share. The company was a close corporation. Its stock was not listed on the stock exchange and there were practically no sales of its stock within recent years. It had no market value. A determination of the inheritance tax due from the estate required that the actual value of this stock be ascertained. The physical assets of the company • consisted, principally, of a sawmill, a veneer plant, a…