A. W. Fenton Co. v. United States

U.S. Customs Court

A. W. Fenton Co. v. United States

22 Cust. Ct. 289, 1949 Cust. Ct. LEXIS 1515

United States Customs Court·Decided April 21, 1949·No. No. 53053; protests 56714-K and 56715-K (Cleveland)·Published

Opinion

Opinion by

Ekwall, J.

It was stipulated that the, issue herein is the same in all material respects as that presented in Mamary Bros., Inc. v. United States (21 Cust. Ct. 135, C. D. 1142). In accordance therewith it was held that the currency of the invoices should be converted at the buying rate in the New York market at noon on the day of exportation (the “free” rate of exchange for pounds sterling), as certified by the Federal Reserve bank and set forth by the collector on each of the entries. The protests were sustained to this extent.

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Opinion by

Ekwall, J.

It was stipulated that the, issue herein is the same in all material respects as that presented in Mamary Bros., Inc. v. United States (21 Cust. Ct. 135, C. D. 1142). In accordance therewith it was held that the currency of the invoices should be converted at the buying rate in the New York market at noon on the day of exportation (the “free” rate of exchange for pounds sterling), as certified by the Federal Reserve bank and set forth by the collector on each of the entries. The protests were sustained to this extent.

A. W. Fenton Co. v. United States, 22 Cust. Ct. 289, 1949 Cust. Ct. LEXIS 1515 (cusc 1949).

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Opinion

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