FAROLL v. JARECKI

No. 11542.

231 F.2d 281 (1956)

Elsie W. FAROLL, Executor of the Estate of Barnett Faroll, deceased, Plaintiff-Appellee, v. John T. JARECKI, Collector of Internal Revenue, Defendant-Appellant.

United States Court of Appeals Seventh Circuit.

March 15, 1956.


Attorney(s) appearing for the Case

H. Brian Holland, Asst. Atty. Gen., Marvin Weinstein, Atty., Tax Division, U. S. Dept. of Justice, Washington, D. C., Robert Tieken, U. S. Atty., Chicago, Ill., Lee A. Jackson, Stanley P. Wagman, Attys., Dept. of Justice, Washington, D. C., for appellant.

Sidney U. Hiken, Joseph H. Taylor, Benjamin M. Brodsky, Bernard Weisberg, Chicago, Ill., Gottlieb & Schwartz, Chicago, Ill., of counsel, for appellee.

Before FINNEGAN, LINDLEY and SCHNACKENBERG, Circuit Judges.


FINNEGAN, Circuit Judge.

A judgment of the District Court, in substance, grounded on a finding that commodity futures sold by the taxpayer, Barnett Faroll,1 during the year 1943 constituted property held by him primarily for sale (and that sales were made) to customers in the ordinary course of his trade or business, is appealed by the defendant, Collector of Internal Revenue. After that finding, the district judge further concluded that...

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