United States v. C. G. Blake Co.
Opinion
“In asking of the defendant $5.60 per gross ton the plaintiff asks the same price that it received from others in the general market, and not more hut less than the prevailing market price.”
[72] This is followed by the conclusion of law that $5.60 per ton constitutes that “just compensation” which the statute contemplates. This we take to be equivalent to saying that, under the facts of this case, plaintiff’s standard prices to its regular customers constituted that market value which is just compensation. The reasoning which leads to this conclusion is set out in Judge Peck’s opinion, which makes clear the sense in which “market value” is used in the findings, and which we approve and adopt in this case — with only the following possible exception:
Counsel think the opinion logically leads to the conclusion that any price which plaintiff could have secured from others is a hard and fast measure of that critical market value which the owner may demand under this statute. We do not intimate that the opinion is-open to that construction; but we could not go so far, as against an owner’s acts and sales evidencing what he was willing to consider a fairly compensatory price, or as against some other and possible abnormal conditions not shown here.
The judgment is affirmed, with continuing interest at the statutory rate, but each party will pay its own costs in this court.
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279 F. 71 (United States v. C. G. Blake Co.) — published by Counsel Stack Legal Research, free access to 12M+ legal documents.