Noel, J.:—The appeal herein was dealt with by consent on the same evidence and argument as that of the appeal in the case of Clifton Lane, in which written reasons for judgment have been delivered this day under No. A-59 of this Court.
For the reasons set out in the above mentioned judgment which apply mutatis mutandis to the present appeal, I must and do find that the profits realized by the respondent from the sale of the Mainshep Syndicate property as well as those realized from the sale of the property belonging to the Newshep Syndicate, were not enhancements of the value of investments but were made in the operation of a speculative business scheme for profit making and are adventures in the nature of trade and, therefore, taxable.
This appeal is, therefore, likewise allowed with costs, the latter to be disposed of. however: as mentioned in the above referred to judgment.
Judgment accordingly.
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