Fuller v. S. C. Tax Commission

The opinion of the Court was delivered 'by

Mr. Justice; Marion.

Robert K. Smith, a resident of New York, died Octo24, 1922, leaving of force a will of which the appellants, residents of New York, are the executors. At the time of his death he owned bonds of the Piedmont & Northern Railway Company, a South Carolina corporation, of the face value of $87,900 and scrip certificates for fractional parts of one bond of the face value of $900.00. The bonds were unregistered coupon bonds, payable to bearer, issued in New York,- and payable in New York. The scrip certificates were transferable only upon…