Court of Appeals for the Third Circuit March 12, 1942, 7771 (Cory v. Commissioner of Internal Revenue)

CLARK, Circuit Judge.

The case at bar is but a short stanza in an epic entitled .“The Use of the Short. Term Trust for Tax Avoidance.” Taxpayers .and theif counsel have .continuously sought to sail between the Scylla of surtaxes and the- Charybdis of loss of control. An early and popular device was the creation of a trust in which the settlor retained. the-power to revest title in himself.