Oliver Wendell Holmes, Jr.

“ The petitioner regarded this whisky as a personal investment, but the whole business was his, and we agree with the Circuit Court of Appeals that the whisky was clearly a part of the stock in trade, and therefore that he was not entitled to the more favorable rate allowed by the Act of November 23, 1921, c. 136, § 206 (a) (6) , 42 Stat. 233, for taxes on capital gain, excluding stock in trade. The petitioner has no reason to complain of the allowance for obsolescence of the warehouses. ”

“ Haberle Crystal Springs Brewing Co., 280 U.S. 384, 50 S.C.t. 155, 74 L. Ed. 498, but was decided the other way. Renziehausen v. Commissioner of Internal Revenue (C. C. A.) 31 F. (2d) 675. A writ of certiorari was granted by this Court on October 14, 1929. 280 U.S. 539, 50 S.C.t. 17, 74 L. Ed. -. ”