Syndicate Alliance Trading Co., Inc. v. United States

21 Cust. Ct. 262, 1948 Cust. Ct. LEXIS 840

• Court: United States Customs Court
• Decided: December 17, 1948
• Docket: No. 52755; protest 95774-K (New York)
• Status: Published

Opinion

Opinion by

Ekwall, J.

In accordance with stipulation of counsel the court found that the facts herein agreed upon were such as to bring the case within the holding in John Barr v. United States (11 Cust. Ct. 88, C. D. 801), which record was incorporated herein. (See John Barr v. United States, 324 U. S. 83.) 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 entries 816943 and 820802. The protest was sustained to this extent.