The New York herald. [volume] (New York [N.Y.]) 1840-1920, 1843-07-17


At the time of the assignment the Kentucky stocks
worth $780,, ESQ. They have recently risen to
SAT- $50, an Improvement of 500 TO
The Tennessee bonds have also been sold nspec'
ton OF those afoa will evnce the London marks upon
them These constant supplies of stock upon the mar
ket have served to keep down the prices, and in
cases to depress them.
Yesterday, many a face usually sedate and grave,
elong ated into smile at the announcement that Boor
man, Johnson & Co. had made contract The startled
hearers pricked up their with the ejaculation who
with, pray ~ II then stated that they had made a
contract deliver iron to the Long Island Railroad.
This produced broad grin. "Isths contract a
sliding scale said one, Is il subject to the action Of
the tariff ~ said another "What the provisions in
relation to transfer 2" cried third. Is transportation
upon dray legal delivery" "Must the president of
the road himself for the iron, will his order be
good ~ ooh stuff" said knowing chap, don't yeu
know that all depends upon the price of iron" All this
badnage grows out of the yet unsettled contract of those
gentlemen for Bank Of Kentucky stock with Jacob
Little Co The contract il will be remembered was for
two hundred shares Bank Of Kentucky stock bought
time by Boorman, Johnson & Co. At the maturity
of the contract the books of the banks were closed
and the price had fallen heavily. The fulflment
Of the contract then refused by Boorman
on the ground, ls That delivery by "power" was not
legal although the stock propded its face for such
delivery. I'd. That formal delivery made the
day the contract matured shou gh they had commenced
negotiation the Of delivery feD days be.
fore maturity Suppose now, the price of iron falls hea
Willy in the Market and by misfortune Of fire other
lamity, Messrs Boorman, johnson Co.. prevented
from delivery in the customary manner but still tender
the ron will they the Railroad from the con
tract7 If the price of iron should rise, will the
follow the Kentucky Bank contract What security has
the Long Island Railroad that the contract not contn
CENT?
tits but short time since obliged TO animad-
vert in severe terms upon the action Of the department
relation to the payment of the interest upon the public
debt The Journal Of Commerce and other prints pro
Tossing to be, erceence the conservaors of the
mercantile interests affected rdcule an occurrence
trihng in ITSELF but fraught with great results to the
dit OF the country The in that case was PROMPTLY
corrected The commercial interests are now however
suffering under another construction whether of an
coordinate" other person. know not Il In relation
to the drawbacks law Of last session authorize the do
tenon reduction of2 per cent from the amount of all
drawbacks goods exported thereafter. The meaning
Of the law doubtless that this regulation should affect
the drawback all goods imported for aebenture suhse
quen to the passage OF the Now the construction Of
the department. s that shouh apply to all drawb
thus giving post faeto operation to the law Many
goods have been imported for long time entitled to de-
bcnture under the law existing at the time the ranssc
ton took place. To alter the law while these goods
IN warehouse, and abolish the drawback in whole in
part sto commit an unwarrantable depreciation upon
the commercial interests In the present CASE
stitutiona construction given TO valid enactment
cannot with any show Of justice The ermen
among commercial men is already very great The inn
positions and exacons to which mercantile men have
Of late been subjected have created quite erment and
many memorials have been sent to Washington in rea
tion TO the matter mere complained Of We trust that
commercial and financial matters will not always be n
subordinate" business.
The New ORLEANS Bulletin, states The Supreme
court yesterday understand reversed the Judgment
OF the Court below in the Of the Commissioner Of
me exchange Bank the Lessees Of the 81 Charles
hoteL The point in litigation whether the Bank