BRYAN, District Judge.
This case involves the determination of the character, as ordinary income or capital gain for Federal tax purposes, of profits from the sale of livestock. The decisive question is whether bull-calves between six and eleven months of age, and heifer-calves between six and twenty-four months old raised and sold by the appellant, a dairy cattle herder, were "property held * * * primarily for sale to customers in the ordinary course of * * * trade...
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