Follansbee stock acquired by him.[1]
The Federal stock, of which approximately 40,000 shares were outstanding in February, 1948, was closely-held with more than 90% owned or controlled by the defendant Christman who had been the founder of the business. Up to February, 1948 when Christman sold 70% of the stock of the corporation to the defendant Follansbee there had been very few sales. The bid and offer quotation on the over-the-counter market, as shown by the records of the National Quotation Bureau, did not reflect actual transactions but at best were in the nature of "feelers", and even these were extremely few in number. Under the circumstances, the quotations published by the National Quotation Bureau, while permitted to remain in the record, are of limited probative value.[2] The factshare of Federal five of the Follansbee stock. Considering both the cash and the Follansbee stock that was turned over, the price per share of Federal averaged $153.
Neither would the Court be justified in disregarding the subsequent June transaction when five shares of Follansbee which were turned over to Christman for one share of his Federal stock were then selling on the New York Stock Exchange at approximately $150  my recollection is that the price per share of the Follansbee stock was close to $30 a share. Parenthetically it should be noted in this connection that plaintiff's expert relied in part on the Follansbee market value in February, 1948 as some indication of the worth of the Federal stock at that time; logically, if there be any