your inventory value for used, salvage parts is current market value by weight- Basic scrap metal about $220/ton, cast iron is $330/ton. Many years back a revenuer said a "unlicensed salvage yard" had a million dollars worth of inventory in a preliminary court hearing-- the owner of the salvage yard said "SOLD" give me your bid money, I"ll pay the tax and case closed- get the million dollars worth of parts out by end of week. Judge told prosecuter and agent- sounded about right, case closed quick and court docket cleared, you have a million dollars worth of parts to resell as you said or were you lieing to the court?? Prosecutor statement was something like we may have said something unsupported,yadda, yadda, yadda and judge said something like "60 days in cells contempt sentance for wasting courts time if you don"t have a supported bid after lunch recess. Only bids at that time were as scrap at about $25.00/ton picked up and judge said that seems about right- but that is NOT a million dollar inventory, from volume estimate, guess on weight of maybe 10 tons the value was di minimus for the court to consider as a felony and the defendants initial offer of about $100.00 full tax payment was preferred to 10 days in cells for prosecuter and revenue agent for taking up courts time if they wanted to continue unsupported case. This was in New Jersey?? RN
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Today's Featured Article - Restoration Story: Fordson Major - by Anthony West. George bought his Fordson Major from a an implement sale about 18 years ago for £200.00 (UK). There is no known history regarding its origins or what service it had done, but the following work was undertaken alone to bring it up to show standard. From the engine number, it was found that this Major was produced late 1946. It was almost complete but had various parts that would definitely need replacing.
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