Michaels, Stern & Co. v. United States

U.S. Customs Court

Michaels, Stern & Co. v. United States

24 Cust. Ct. 362, 1950 Cust. Ct. LEXIS 1625

United States Customs Court·Decided January 30, 1950·No. No. 53999; protests 67835-K, etc. (New York)·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 involved.

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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 involved.

Michaels, Stern & Co. v. United States, 24 Cust. Ct. 362, 1950 Cust. Ct. LEXIS 1625 (cusc 1950).

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Opinion

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