U.S. Supreme Court U. S. v. SAFETY CAR HEATING & LIGHTING CO., 297 U.S. 88 (1936)

297 U.S. 88

UNITED STATES v. SAFETY CAR HEATING & LIGHTING CO. *

ROGERS, Collector of Internal Revenue, v. SAME.

Nos. 75 and 76. Argued Dec. 20, 1935. Decided Jan. 6, 1936.

* Rehearing denied 297 U.S. 727, 56 S.Ct. 495.[ U. S. v. Safety Car Heating & Lighting Co. 297 U.S. 88 (1936) ]

[Page 297 U.S. 88, 101]

Mr. Justice SUTHERLAND, Mr. Justice BUTLER, and Mr. Justice ROBERTS are of opinion that the judgments should be affirmed. The claim or respondent was a valid one, constituting property prior to March 1, 1913. It not only had an ascertainable value at that time, but a value which was actually ascertained and found as a fact by the trial judge and affirmed by the court below. Since there is evidence in the record to support these concurrent findings, we are not at liberty to set them aside. The case clearly falls within the principle of Doyle v. Mitchell Brothers Co., , 38 S.Ct. 467; Lucas v. Alexander, 279 U.S. 573, 49 S.Ct. 426, 61 A.L.R. 906, and other cases which might be cited. Certainly promissory notes, bonds, shares of stock, and valid claims arising upon contract or in tort may be capital as distinguished from income, quite as much as a stock of goods or other tangible property. And quite as certainly, it is not necessary that these intangibles should have a market value or an inventory value. It is enough that they have an ascertainable value at the statutory time fixed.