United States Board of Tax Appeals May 28, 1928, Docket No. 10731. (Newton Cotton Mills v. Commissioner)

lead-opinion

*179OPINION.

Morris:

The principal question to be determined by this proceeding is the fair market price or value of the land, buildings, machinery, and equipment belonging to the Newton Cotton Mills on March 1, 1913. We have determined as a fact that these assets had a value on that date of $250,000.