ing under the will of the
decedent. "In effecting her purposes," the testatrix was viewed as
having "brought some of the legal interests which she created within the
control of one State by selecting a trustee there, and others within the
control of the other State, by making her domicile there." She had found
it necessary to invoke "the aid of the law of both States, and her
legatees" were subject to the same necessity.

These statements represented a belated adoption of the views advanced by
Chief Justice Stone in dissenting or concurring opinions which he filed
in three of the four decisions rendered during 1930-1932. By the line of
reasoning taken in these opinions, if protection or control was extended
to, or exercised over, intangibles or the person of their owner, then as
many States as afforded such protection or were capable of exerting such
dominion should be privileged to tax the transfer of such property. On
this basis, the domiciliary State would invariably qualify as a State
competent to tax and a nondomiciliary State, so far as it could
legitimately exercise control or could be shown to have afforded a
measure of protection that was not trivial or insubstantial.

On the authority of Curry _v._ McCanless, the Court, in Pearson _v._
McGraw,[529] also sustained the application of an Oregon transfer tax to
intangibles handled by an Illinois trust company and never physically
present in Oregon, jurisdiction to tax being viewed as dependent, not on
the location of the property in the State, but on control over the owner
who was a resident of Oregon. In Graves _v._ Elliott,[530] decided in
the same year, the Court upheld the power of New York, in computing its
estate tax, to include in the gross estate of a domiciled decedent the
value of a trust of bonds managed in Colorado by a Colorado trust
company and already taxed on its transfer by Colorado, which trust the
decedent had established while in Colorado and concerning which he had
never exercised any of his reserved powers of revocation or change of
beneficiaries. It was observed that "the power of disposition of
property is the equivalent of ownership, * * * and its exercise in the
case of intangibles is * * * [an] appropriate subject of taxation at the
place of the domicile of the owner of the power. Relinquishment at
death, in consequence of the non-exercise in life, of a power to revoke
a trust created by a decedent is likewise an appropriate subject of