Wolf Greenspan & Sons v. United States

22 Cust. Ct. 311, 1949 Cust. Ct. LEXIS 1597

• Court: United States Customs Court
• Decided: May 10, 1949
• Docket: No. 53135; protests 67230-K, etc. (New York)
• Status: Published

Opinion

Opinion by

Ekwall, J.

It was stipulated that the issue herein 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 and set forth by the collector on each of the entries. The protests were sustained to this extent.