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Ely, Elizabeth Cury, Alleged Transferee_
Ennis, Clarence W., Estate -
Erburu, Michael P. and Kathryn.
Eres, George
Erickson, Albert T. and Stella E..
Feagans, Frank T. and Esther..
Feagans Paint Co.---
Felberbaum, Nathan, Trustee
Fidelity-Philadelphia Trust Co-
First National Bank of Arizona, Phoenix, Executor.
Fisher, Wilson John.
Fort Wharf Ice Co.
Frigidmist Co.-
Gantz, Saxe Perry -
Glenshaw Glass Co.
Goble, Helen.
Goldstein Brothers, Inc.
Gooding Amusement Co.
Gooding, F. E. and Elizabeth
Goodman, Al and Ethel..
Goodman, Al, Inc.---
Greenbros, Inc..
Greenspon, Anna-
Greenspon, Louis
Greenspon, Louis, Inc.
Gregg Co. of Delaware.
Gross, Alfred and Florence
Gross, George M. and Anna.
Gross, Gerald, Trust-
Gross, Jane, Trust -
Gross, Peter, Trust..
Gross, Robert
Haas v. United States..
Haas Mold Co. v. United States.
Handfield, Frank
Hartley, Harry and Carey
Hartley, Harry and Carey (Supplemental)
Hawkinson, John L. and Laura W-
Hawn, John David and Bette.
Haynes, William C. and Maurine H.
Hearn Department Stores, Inc.--
Helms Bakeries---
Henshaw, Paul A. and Gladys Kirby-
Henshaw, Walter A. and Frances Ailen.
Hill, Elizabeth D., Estate
Hoffman v. United States
Holbrook, Reginald H., Administrator
Holstein, George M..
Holstein, George M., III.
Holstein, William S.
Holt, Harold and Margaret K
Howard, Lindsay C. and Lucille K.
Jackson-Raymond Co...
Joslyn, George R. and Dorothy C..
Joy Manufacturing Co.--
Kalech, Phil and Zipporah..
Karagheusian, Miran, Estate.
Keelan, Frank B..
Kelly, Daniel S. W
Knapp, Bessie and F. E.
Knapp, Frederick M. and Edith.
Knapp, George Parker and Mavis
Knapp, Gilson and Ida-
Knapp, John A. and Olga.
Koester, Clarence E. and Alice-
Kohn, Fannie G., Director and Trustee (and individually).
Lagreide, Anders I. and Alice...

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Docket No. 29800. Filed October 6, 1954.

The petitioner owned stock in a corporation of, and located in, Yugoslavia which was deemed to have been seized, upon declaration of war between the United States and Germany in 1941, under section 127 (a) (2), Internal Revenue Code of 1939. Held, that petitioner recovered his interest in the stock in 1945, Andrew P. Solt, 19 T. C. 183, but he has failed to prove that the stock was seized or confiscated in 1945, and, therefore, loss deduction under section 23 (e) of the Internal Revenue Code of 1939 is denied.

Werner Galleski, Esq., for the petitioner.
James J. Quinn, Esq., for the respondent.

The Commissioner determined a deficiency in income tax for the year 1945 in the amount of $754.98. The question to be decided is whether petitioner is entitled to a loss deduction in 1945 under section 23 (e) of the Internal Revenue Code of 1939 by reason of alleged confiscation in 1945 by the Government of Yugoslavia of stock in a corporation organized under the laws of Yugoslavia. The petitioner claims that income tax for 1945 has been overpaid. The petitioner concedes that other adjustments which the Commissioner made are correct.


The stipulated facts are found as stipulated. The stipulation is incorporated herein by this reference.

The petitioner was born in Yugoslavia. He left Yugoslavia in 1940 and he has not returned since his departure. He entered the United States on June 3, 1941, under a permanent immigration visa, and he became a citizen of the United States in 1946. The petitioner has resided in New York City since June 30, 1941. His return for the taxable year, 1945, was filed with the collector of internal revenue for the third district of New York.

The Ris corporation was organized under the laws of Yugoslavia in about 1935. There were 3,000 shares of stock issued. In 1936 and 1938, petitioner purchased 2,850 shares. The total cost of the 2,850 shares was $28,500 in United States dollars based upon the official rate of exchange for dinars in 1936 and 1938. He was the manager of the corporation. Ris corporation carried on its business in Zagreb, Yugoslavia. Its business was the manufacture of rubber goods.

In April 1941, Yugoslavia was invaded by German military forces. At that time petitioner owned 2,850 shares of stock of Ris corporation.

War was declared by the United States against Germany on December 11, 1941.

The adjusted basis of petitioner's stock was $28,500 on December 11, 1941.

The city of Zagreb, Yugoslavia, was liberated from German occupation on March 15, 1945.

When petitioner left Yugoslavia in 1940, he had all of his stock in Ris corporation transferred into the name of Ivo Mundorfer as his nominee, who remained in Yugoslavia, for the purpose of the safekeeping of the stock, in order to save it from confiscation. Petitioner is of the Jewish faith. Mundorfer is not of the Jewish faith. The stock was not confiscated by the enemy during the occupation of Yugoslavia ; it was held by Mundorfer for petitioner, continuously, until the liberation of Yugoslavia during March of 1945.

In 1945, after the liberation of Yugoslavia, petitioner was represented by an attorney, Alexander Green, who was in Belgrade, Yugoslavia. Green went to the city of Zagreb in July of 1945, and made claim for petitioner to the board of directors of Ris corporation for recognition of petitioner's ownership of 2,850 shares of stock. He spoke to the managers of the plant which Ris corporation operated. He saw Mundorfer who still had possession of petitioner's stock certificates. He visited the plant. He inspected the books of the corporation.

Green attended a meeting of the board of directors of Ris corporation, as petitioner's proxy, on October 19, 1945. At this meeting the directors recognized petitioner's ownership of stock in the corporation and recognized Green as petitioner's attorney and proxy.

Prior to October 19, 1945, Ris corporation, by letter dated August 2, 1945, to petitioner, confirmed petitioner's ownership of 2,850 shares of stock, the dates of his purchases of stock, and his cost (in dinars) of each purchase of stock.

Petitioner's sister-in-law, during July 1945, and after, resided in Yugoslavia in the town of Subotica, which is close to Belgrade. Ris corporation made cash payments to Green on two occasions for transmission to petitioner's sister-in-law. She received from the corporation, through Green, 50,000 dinars in October 1945, and 2,000 dinars

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