Ferries Co. v. United States, 266 U.S. 260 (1924)

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Ferries Co. v. United States

No. 46

Argued October 8, 1924
Decided November 17, 1924
266 U.S. 260

APPEAL FROM THE COURT OF CLAIMS

Syllabus

A ten-year lease of ferry property provided that, at its termination, the property leased, including any additions and betterments that might be made by the lessee, should be valued by appraisers, and that, if such valuation were less than the value of the property as similarly appraised when the lease was made, the lessee should pay the difference, but, if more, the lessors should pay it. During the war, when the term had nearly run, the United States, by agreement with the parties, took over the operation of the ferries under stipulations that he lease should then terminate, that appraisal should be made as of that time, as if the lease had then regularly terminated, and that any money thus found due the lessee or lessor, as the case might be, should be paid to the one so entitled, and charged against the other, by the United States. Held that an award for the lessee, based largely on conditions and value existing before the advent of war prices, correctly interpreted the lease and agreement, and that the lessee was not entitled to set the award aside, or to any relief in a court of equity. P. 263.

57 Ct.Clms. 16 affirmed.

Appeal from a judgment of the Court of Claims dismissing the petition.