Case Name: Michaels, Stern & Co., Inc., et al. v. United States
Court: United States Customs Court
Jurisdiction: United States
Decision Date: 1950-01-30
Citations: 24 Cust. Ct. 362
Docket Number: No. 53999; protests 67835-K, etc. (New York)
Parties: Michaels, Stern & Co., Inc., et al. v. United States,
Judges: 
Reporter: United States Customs Court Reports
Volume: 24
Pages: 362–362

Head Matter:
No. 53999.
Michaels, Stern & Co., Inc., et al. v. United States,
protests 67835-K, etc. (New York).

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.