BROOKLYN & RICHMOND FERRY CO. v. COMMISSIONER OF I. R.

No. 72, Docket 20997.

171 F.2d 616 (1948)

BROOKLYN & RICHMOND FERRY CO., Inc. v. COMMISSIONER OF INTERNAL REVENUE.

United States Court of Appeals Second Circuit.

December 23, 1948.


Attorney(s) appearing for the Case

A. Chauncey Newlin and Ryder Henry, II (White & Case, of New York City, of counsel), for petitioner Brooklyn & Richmond Ferry Co., Inc.

Theron Lamar Caudle, Asst. Atty. Gen., and Ellis N. Slack, Lee A. Jackson, and Irving I. Axelrad, Sp. Asst. to Atty. Gen., for respondent Commissioner of Internal Revenue.

Before SWAN, AUGUSTUS N. HAND, and CLARK, Circuit Judges.


AUGUSTUS N. HAND, Circuit Judge.

The petitioner, Ferry Company, had an exclusive right to operate ferryboats from Bay Ridge, Brooklyn, to St. George, Staten Island, for a term of twenty years beginning March 31, 1934. The franchise was not assignable without the consent of the City of New York which had granted it and was subject to cancellation for certain specified defaults of the petitioner, including failure to operate...

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