Wayne Hugh Easley Trust, W. H. Easley, Trustee v. Commissioner of Internal Revenue, Roger Kent Easley Trust, W. H. Easley, Trustee v. Commissioner of Internal Revenue

228 F.2d 810 Wayne Hugh EASLEY TRUST, W. H. Easley, Trustee, Petitioner, v. COMMISSIONER OF INTERNAL REVENUE, Respondent. Roger Kent EASLEY TRUST, W. H. Easley, Trustee, Petitioner, v. COMMISSIONER OF INTERNAL REVENUE, Respondent. No. 14199. United States Court of Appeals Ninth Circuit. December 22, 1955. 1 Clyde C. Sherwood, John V. Lewis, San Francisco, Cal., for appellants. 2 H. Brian Holland, Asst. Atty. Gen., Louise Foster, Ellis N. Slack, Howard P. Locke, Dudley J. Godfrey, Jr., Sp. Assts. to Atty. Gen., for appellee. 3 Before DENMAN, Chief Judge, POPE, Circuit Judge, and CLARK, District Judge. 4 CLARK, District Judge. 5 This matter is here on petition for review of the decision of the Tax Court. All of the facts were stipulated and as taken from the stipulation were summarized by the Tax Court as follows: 6 The petitioners herein, the Wayne Hugh Easley Trust (hereinafter sometimes referred to as Trust No. 1) and the Roger Kent Easley Trust (hereinafter sometimes referred to as Trust No. 2) were created on October 1, 1940, by separate written Declarations of Trust of the same date executed by W. H. Easley and Margaret A. Easley as settlors. Since that date and throughout the…