Blumenthal v. Lynch

Judge Webb

dissenting.

I dissent. I believe that under the plain words of the statute the assets held by the executor were held for the benefit of an exempt organization and were not subject to intangibles tax. The cases relied upon by the majority involve estates which had not been administered to the extent that all the assets were being held for an exempt organization. That is a distinction between them and this case which I believe makes them inapplicable.