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 - Old Time Threshing - by Anthony West. A lovely harvest evening late September 1947, I was a school boy, like all school boys I loved harvest time. The golden corn ripens well and early, the stoking, stacking,.... the drawing in with the tractors and trailers and a few buck rakes thrown in, and possibly a heavy horse. It would be a great day for the collies and the terrier dogs, rats and mice would be at the bottom of the stacks so the dogs, would have a busy time hunting and killing, all the corn was gathered and ricked in what we c
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