AMERICAN STEAMSHIP COMPANY v. UNITED STATES

No. 758, Docket 34586.

427 F.2d 235 (1970)

AMERICAN STEAMSHIP COMPANY, Plaintiff-Appellant, v. UNITED STATES of America, Defendant-Appellee.

United States Court of Appeals, Second Circuit.

Decided May 28, 1970.


Attorney(s) appearing for the Case

Peter Lewis Sill, Cadwalader, Wickersham & Taft, New York City, for appellant.

Bennet N. Hollander, Lee A. Jackson, William Massar, Attorneys, Department of Justice, Johnnie M. Walters, Asst. Atty. Gen., H. Kenneth Schroeder, Jr., U. S. Atty., for appellee.

Before LUMBARD, Chief Judge, WATERMAN, Circuit Judge, and JAMESON, District Judge.


WATERMAN, Circuit Judge:

The appellant taxpayer in this suit is a New York corporation which owns and operates commercial vessels on the Great Lakes. From 1960 through 1963 the corporation whose tax claims are inherited by the appellant successor corporation1 uniformly insured its vessels against casualty damages by means of policies containing $25,000 deductible clauses. As a result of these provisions, the cost of the insurance was reduced...

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