New-York daily tribune. [volume] (New-York [N.Y.]) 1842-1866, 1849-10-06
OoHsnaERolfL AnD naonEY MATTERS.

FRrpAr Oct 5-P. NJ
The Stock market is still heavy and inactive
The sdvices from the other side have depressed Gov
eminent securities although the general features are
favorable notwithstanding some Of the quotations ara
lower AZ the Second Board the market was st. dull
la Freghts the movement is larger but rates
are DO better The engagements are considerable At
2tdd3d for Cora 81 for Flour 3s Sterling and IS e;s
for Cotton loal5s for dead weight To London
Flour and Naval Stores lsi Cheese, 30s Lard, ass
In Exchanges there is nothing doing, but the
quotations are steady.
The amount in the Sab Treasury is decreasing
the payment. to day being large, s-26723 receipts
:69 1876; balance, 80 969 Isl.
The Holyoke Bank, Northampton, and the
northampton Bank Cis..) have declared dividends Of
q per cent cach for the months ending sept 30
The Springfield Bank semi annual dividend Of 81 per
cent and tho Chicopee and Agswam, OF Springfield
oze of 4 each The Cabot Bank Chcopee ~ PER
cent 30 Tae Mechanics Bank Of Augusta - per share
for the last months The Bank Of Brunswick - per
share for the ssme period.
The receipt. of the Erie Railroad for the month
OF September 1915 and lsi9 a follows
Ps'I. AMI sN9.5 s. Rs'.,r. and ms'sl379 80
Ffeight........... 1919 u Ffeshi....... lflo5 -
&c
Increase. >3lflt1 Il
The receipts were all At the rate Of % 100 per work
ing day and had no, the month contained i've Sundays
the receipts would have gone beyond the estimates
$4,000.
The North American Trus, suit Is now being
argued before the Court Of Appeals Probably ths de-
c!sion will not BE- made public for sometime, but II
have, when does appear most important inau
ence upon the stock Thi, suit has we believe, been
decided in the inferior Courts Invariably IN favor Of
tie stockholders
We have received copy Of the decision Of the
Supreme Cosrt in the case Of The Farmers Loan and
Trus, Company against Charles H. Carroll and other,
which 10 still more sweeping than the nrst rumors made
f. and If sustained by the Court Of Appeals may prove
very embarrassing to the Company in other matters
tbs1 this The .nii 10 question grew out OF the
conveyance Of certain real estate to the Trust CO. By
Mr. Carroll, the Company issuing TO Mr. C. their eert-
1esies at per cent Interest while Carroll was 10 a.
low the Company per cent. Interest The Transaction
wa. made in the form Of trust but the Cour. decided
that IL simply losn, and as such was Illegal, the
Company having no power to make losns. After
ong and able discussion OF whs. constitutes trust,
and examination Of the covenants Of the Agreements
question, the Court says It's opinion has been fully
confirmed By subsequent examination and reelection
and that IT, not only thar the legal eject Of the eSecu
ton and delivery Of these instruments was to const
tute losn BY the Farmers Loan Trust Company 10
Charles H. Carroll and 70 secure the repayment there
Of by the latter 10 the former, but such the
undertaking and intention OF the parties 81 the trne
alIhou. b was 70 81 disguised By and language
employed In the papers as trust Il seems that no
person 4ttentiysly examine al these papers to
gether the conveysnees the agreements and the esri
ncAies with the coupons annexed, without belos for
cbly impressed with the idea OF oan. ho,eie stand
ns The name By which the parties have chosen 20 call
IT, the essence Of /. al "a to place Carroll 10 funds
TIE word loan Is used In some OF The preliminary
papers After deciding that the arrangement vas =
loan and no, trust the Court advances Two objections
70 10 being enforced as such
lst The company did NOT possess The power Of making
loans Their sct Of incorporation gave hem such power
10 expires. terms bgs no act Tas ~ expire IN h1een
years except IS ~ in'uarces on F-s ana ne grazing
/ u snnuu-s sHd Adminns tnat ta- rus powers coz
erfeo BY saendzory sc Of lie sane session 10 which
the company We. chartered. would survive ihe hfIeen
y-sr mere i nothing IN any u ne acs 70 c-a7lace
ne zee hal The conpeoy' Joan powers would survive
/ .kat period.
pr-ssy prohibits Tie company GIVING any ooizalon Tor
The payment u mocey, except 70 enao Them 20 f1h any
scl. engagement tey may make or enief r.o of 0.n.
&c 20 enable the corporation plrcisay 20 pay any
o.ses hey might sustain kc u seems 20 Be ale 10
.pert tine snow .hss ne giving o. reese cenfcates
DID not within the exception % nls pr0liDii01.
| The ceruncsles were the thnxs loaned.
q. Tais oAn AID al he securities reading 20 10 was
lege and void, o-iog yio.aco, Of he 1sgry avs
The Tarsactoc 8slrl0Is 1po1 IS face, 10 MAXIM
Eererce Of per cent between he INTEREST," Be paid
~ Tie company upon Inc cer1caes and thar 70 Be pad
oy Carroll. ia olaer words, hat u was gslrcus
The Court then recsPitUla,es the facts WIKI which
i. oriaes lts decision OF usary Il iaen takes ~ the
question A. whether the holder Of portion Of
The certificates entitled TO any relief and decide.
agains, them, the ground that they tainted with
1sury
This case Wa argued a. the Monroe Genersl
Term before JUSTICES Maynard Wel-s and Marvin
The opni0n was delivered 81 Justice ws..=s ~ho con
cl1tes follows
therefore Of he opnion thai holcers Of the Ger.
tc.te. rot entitled 10 any decree 20 heir taTor. II
AZ night II holding nc r.1sscuoc osn, 40. tnal 10
s1-cted with zs1ry. t1en s erre1 zny benefit
from a-ylhi.g connected viii grOwirx q u IL
olher D9r-s lre Court VII rot al parry wno been
connected with H. or who sans ehsrgssDis VIII noacs
Tue exports from snis port lsom Sept. - - Oc:.
. were follows
To Loa4s.-.s5 sazs Oh CAKE 5000 saves - -. u.
Cheese.
To Ls~yoss-s bbs F.oar = 80 Pota.b 80 10 carome
Ore, LA Go Tar ISIS do l1rD-uure Is 90 Rssn 10
t-s1 Ccrn, 50 bids Iooscco ~ Coos 80 Pear
Shells IS Do Gsrs.c4ra 10 zs.ions Whale o. ri DO
>ferm OIL, lel1- % Cheese Is ,1cs Run . ms u.rc
To HEr-s-S bo.s Potasn. y d Peussh - 20 B..sla
CcpGTs- - tcs Rec. - s-s l5s Lara Sss 20 Wh.e
eons i's gsls Sperm o. re os' Cedar 50 bsgs ooeo.