Biddle Purchasing Co. v. United States

U.S. Customs Court

Biddle Purchasing Co. v. United States

25 Cust. Ct. 301, 1950 Cust. Ct. LEXIS 418

CourtUnited States Customs Court

DecidedOctober 30, 1950

DocketNo. 54793; protest 57260-K (New York)

StatusPublished

This text of 25 Cust. Ct. 301 (Biddle Purchasing Co. v. United States) is published on Counsel Stack Legal Research, covering United States Customs Court primary law. Counsel Stack provides free access to over 12 million legal documents including statutes, case law, regulations, and constitutions.

Bluebook

Biddle Purchasing Co. v. United States, 25 Cust. Ct. 301, 1950 Cust. Ct. LEXIS 418 (cusc 1950).

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Opinion

Opinion by

Ekwall, J.

It was stipulated that the merchandise covered by entry 816442, invoiced and appraised in pounds sterling, was exported from India on March 18, 1940, and that the only rate of exchange for that date was $3.749027. It was further stipulated that the issue involved in entry 821142 is the same in all material respects as that presented in The Otto Gerdau Co. v. United States (21 Cust. Ct. 24, C. D. 1120) and Mamary Bros., Inc. v. United States (id. 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, such buying rates to be as follows: As to entry 816442, the applicable rate is $3.749027, and as to entry 821142, the applicable buying rate is $3.504305.

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Opinion by

Ekwall, J.

It was stipulated that the merchandise covered by entry 816442, invoiced and appraised in pounds sterling, was exported from India on March 18, 1940, and that the only rate of exchange for that date was $3.749027. It was further stipulated that the issue involved in entry 821142 is the same in all material respects as that presented in The Otto Gerdau Co. v. United States (21 Cust. Ct. 24, C. D. 1120) and Mamary Bros., Inc. v. United States (id. 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, such buying rates to be as follows: As to entry 816442, the applicable rate is $3.749027, and as to entry 821142, the applicable buying rate is $3.504305.

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Bluebook (online)

25 Cust. Ct. 301, 1950 Cust. Ct. LEXIS 418, Counsel Stack Legal Research, https://law.counselstack.com/opinion/biddle-purchasing-co-v-united-states-cusc-1950.

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