KLINGENSTEIN v. UNITED STATES

No. 43165.

18 F.Supp. 1015 (1937)

KLINGENSTEIN v. UNITED STATES.

Court of Claims.

April 26, 1937.


Attorney(s) appearing for the Case

Thomas G. Haight, of Jersey City, N. J. (Robert H. Montgomery and J. Marvin Haynes, both of Washington, D. C., and James O. Wynn, Roswell Magill, and Thomas Tarleau, all of New York City, on the brief), for plaintiff.

J. W. Blalock, of Washington, D. C., and Robert H. Jackson, Asst. Atty. Gen., for the United States.

Before BOOTH, Chief Justice, and GREEN, LITTLETON, WILLIAMS, and WHALEY, Judges.


LITTLETON, Judge.

The question presented is whether plaintiff was entitled to offset his individual losses amounting to $32,144.95, which arose from the sale of securities held by him for less than two years, against his share of the net income of the partnership of Wertheim & Co., of which he was a member, when the net profits of the partnership resulted from the sale of securities which the partnership had held for less than two years. We are of opinion that...

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