co} bs nail JOHN Ry RAFTER Counsellor at law 74 Trinity New Place York November Sth, 1933% Personal My". z. G. Bennett, c/o Federal Deposit Insurance Washington, Dear Mr. Corporation, BD, C. Bennetts in reply to your letter the Browning Arms Company's goods in Belgiums refer, of November 7th, referring which are held in stock As stated in my letter of July to which you these goods, when exported to the United States, 26th, must be tnved eit to the Browning Arms Companyat the curreney which was paid for them. That Section 481 of the Tariff Act of 250. Such goods will be appraised portation, If the foreign value (ihe in Belgium) at that time is higher the price is requ rea = as of the date of exprice than of similer goods the price paid. by the browning Arms Com ape ny and if ‘the appraiser is aware of that fact, the goods will be appraised at sueh higher value, © In order the to determine importer's number at the whether purchase the price, poresee the is higher will than convert the of franes at whieh similar goods are sold in Belgium rate of exchange on the date of exportation, | If such a comparison shows a2 higher dollars than the invoice pricey will be advanced accordingly; value will in carry value with it not the entry only amount but alse additional because of entering any of auch goods, of 1930). the undervaluation, To méet to its chandise Patt epkens om this situation satisfaction and then on each amount to the the duties duties (Section amount in of the merchandise and extra pean mine apa appraiser advance in on in- the (socalled: penalties) 489 I recommend of the Tariff that, before Act the Browning Arms Company deter- the value foreign of such mer— entry (mot on the invoice) add a invoice value foreign to equal the