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same price per share, although most of the buyers each purchased
less than 100 shares. No blocks of Savings stock comparable to
the size owned by petitioner have ever been sold; the only
shareholders who have ever owned blocks of that size are members
of the Mannon family or their relatives, and none of them have
ever tried to sell their entire interests.
However, on October 9, 1991, decedent sold a total of 1,111
shares for $307 per share to approximately 20 buyers; the book
value on October 31, 1991, was $283.44 per share. On August 27,
1992, petitioner sold 2,800 shares for $335 per share to
approximately 45 buyers;3 the 1992 third-quarter book value was
$321.74 per share.4 Savings assisted petitioner in this sale,
and petitioner made no attempt to sell these shares in any way
other than through Savings.
3The stipulated amount of this sale is $935,000 (which is
$333.93 per share); however, the amount reported on petitioner's
Form 1041, U.S. Fiduciary Income Tax Return, for 1992 is $938,000
($335 per share). Furthermore, at trial respondent introduced
evidence, a list of sales of Savings shares after 1989 and a list
of sales of Savings shares from 1980 through 1992, which show the
price per share was $335. While stipulations are not set aside
lightly, we have broad discretion in determining whether to hold
a party to a stipulation. See Blohm v. Commissioner, 994 F.2d
1542, 1553 (11th Cir. 1993), affg. T.C. Memo. 1991-636. The
evidence in the record demonstrates that the stipulated amount is
simply incorrect. We are not bound by stipulations of fact that
appear contrary to the facts disclosed by the record. See Rule
91(e); Blohm v. Commissioner, supra. We, therefore, find as a
fact that the 1,111 shares were sold for $938,000 ($335 per
share) on Aug. 27, 1992.
424 The Western Bank Monitor 123 (1993).
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