Case: Burroughs Wellcome & Co., Inc., and Lo Curto & Funk v. United States
Abbreviation: Burroughs Wellcome & Co. v. United States
Decision Date: 1950-05-18
Docket Number: No. 54336; protests 64040-K and 64902-K (New York)
Citation: 24 Cust. Ct. 465
Volume: 24
Reporter: United States Customs Court Reports
Court: United States Customs Court
Jurisdiction: United States
Parties: Burroughs Wellcome & Co., Inc., and Lo Curto & Funk v. United States,
Judges: 
Pages: 465–465

Head Matter:
No. 54336.
Burroughs Wellcome & Co., Inc., and Lo Curto & Funk v. United States,
protests 64040-K and 64902-K (New York).

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 each of the entries involved.