PER CURIAM:
The question presented in this case is whether the Tax Court erred in concluding that $12,000.00 which the taxpayers were paid in the year 1954 for certain underground water rights is taxable as ordinary income rather than as a capital gain. The memorandum findings of fact and opinion of the Tax Court are not officially reported but may be found in 23 CCH Tax Ct. Mem. 238 (1964); 33 P-H Tax Ct. Mem. 261 (1964).
The taxpayers urgently insist that the transaction constituted a "Water Rights Grant" and the funds received were proceeds of a sale and should be treated as capital gain. The Tax Court held the $12,000.00 was not received upon the "sale" of property and that taxpayers could not treat the gain as a long-term capital gain.
A careful examination of the record and the findings and opinion of the Tax Court convinces us that the correct conclusion was reached.
The judgment is affirmed.