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FINDINGS OF FACT
Some of the facts have been stipulated and are so found.
Hugh G. King (Mr. King) and his wife, Norma J. King (Mrs.
King), resided in Dothan, Alabama, when the petition was filed.
A. Petitioners’ Early Years
Petitioners grew up on farms and are high school graduates.
Mr. King managed his family’s farm from 1939 to 1942 and served
in the Air Force from 1942 to 1946.
B. Petitioners’ Income-Producing Activities
Mr. King entered the construction and sand and gravel
businesses around 1965. Petitioners bought an appliance store
around 1966, discussed below in paragraph C. In 1978, Mr. King
inherited a 250-acre farm, 47 acres of which were cultivated.
The rest was forested. A sharecropper farmed the cultivated
land.
Mr. King bought more land after 1978. Petitioners owned 537
acres of land in 1995, including 230 acres of cropland.
Petitioners owned 682 acres of land in 1996-98, of which 342
acres was cropland. They sold sand mined from their land and
grew timber during the years in issue.
During 1995-98, Mr. King received a peanut quota from the
U.S. Department of Agriculture based on production in past years
from his farm. The peanut quota allowed him to sell a specified
amount of peanuts (quota peanuts) for about $600 per ton during
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Last modified: May 25, 2011