Williams v. Commissioner of Internal Revenue

The facts and issues presented by the petition for review in this ease have been quite fairly and succinctly stated in the opinion of Judge Booth. There are two issues: (1) What was the fair market value of the stock inherited by the petitioner, on November 4, 1918; and (2) was the method employed by 'the Commissioner of Internal Revenue in computing the tax a proper method?

It is conceded, as noted in the foregoing opinion, that the stock was not a listed, stock and had no regular market value in the primary sense. It was therefore proper to resort to the value of the assets of the…