The New York herald. [volume] (New York [N.Y.]) 1840-1920, 1856-12-28

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The London Tsncs OF the 12th Says
The 1na quotations Of the French Three per Gents ON
and esf for end Of the month"; showing in tho former
case decline Of quarter per cent but NO change In me
The letters nom Paris describe NO alteration In tho
money market except thai the monthly payment Oh the
sst loan had csused tendency 70 Al increased demand
pressure for dhcouns, owing TO tina foreign applications
attracted By the lower rate In hat country Under these
on s face he syss:ss .ppssssncs Il accom- notation
or speculation.
In the case OF sa,tus w. Genin, Lockwood Co., the
court-Judge Horman-rendered lengthy decision, Of
which the following arc the principal points -
l. There usury In the original transaction In
Any rate Of interest beyond what legal II the charge
OF $50 made on the account rendered IN April Was in
and unwaranted charge charge in pursuance Of an
agreement made 1t the time Of the advance
q The defendants. ON the sth Of January, 1885, con-
rsced for the purchase Of two hundred shares Of Nca
rAgua stock from lbree differ ent parties and by the terms
Of the bargain explained by the evidence was 70 be
made IN pursuancs Of the orders q tue plaintiff ZACH Of
tho parties from whom such purchase purporsed 70 DO
made owned = That time namely the stS o. Ssnosy
was mot In ouch parties names but was actually owned
by them.
was actually held BY the proposed vendors v also
mmatcrfaI whether there binding contract made
are s. By u the sc = hs, the
Oh. The sctna transfer. made, removed any objoc.
hns which might have existed when the contract was
a. The defendants did on the 9th Of January receive
and pay for 200 shares o. the stock in question: to be
held on account Of the plaintiff subject 70 his order aud
s. For Tho ralnmsnt by the plaintiff Of bis contract
With The defendants he deposited With them Certificate
Company with power Of attorney to transfer the same
The deposit made ~ security TO the defendants for
ryng the said Nicsrssua stock behalf Of The plaintiff
The Nicaragua stock was carried by the defendants
nom the 9Th Of January until the sth Of April 1865 Tho
ssreemsn, originally w's 70 hold sior thirty days and
the extension appears 10 have been subsequently, agreed
T. On The I'm Of March, 1856 III. defendants hsd no
s,ck sanding 10 their cyed. the books OF that com
psny, nor on the 14h. 10Th leth Of the month
stock stood 10 their creot On the I'd and an Of April
they had 30 shares the 5th 9Th and TIN, Of such
shares there were none 70 Their ana on the sh o.
Der transferred by them. The sAd 200 shares were
that day sold and for the shares held By them for tho
The defendants had on the 18Th Of March and aa oil
times from the 9th Of January 70 the llth Of Apr m
parties nom whom they had borrowed money upon the
security Of such stock and redeemabie upon tho payment
OF such loans.
O. The price Of the stock on the 18th Of March, is5s
was an average Of 2on per cent
The csre nsce out BY the proofs, one or IN ad
vance Of money by the defendants 70 the OF the
plaintiff upon the security o, THIS a. we'll a Of the other
stock to be held for ls0 days
consider the applicable 10 this TO be that the
defendants boond 70 have kept their upon
the books OF the COMPANY 10 have wuhn their powc
thor possession during the period Of agreemen the
smoppt Of 200 shares; and that the right 70 call suoh
stock dcpcsited ~ security Tor moneys borrowed was
not auch posssssion control the law requires
(Aourse Pretre John CHI rep. 90; 4Tbid 400 Allen
va Iykere, Q iil ace Ibid. Aa5. Horton Morgan
Superior Court, General Term, May, 1851
10 The plaintiff when dealing with brokers - 10 stocks,
subjected himself 10 the peculiar custom OF that body Of
sfenn when mot N violation OF law. BY that custom
The charge Of of per cent Tor the two periods OF 100
days after the expiration Of the nrs justified.
H. The sale OF the sixth Avenyc Railroad stock n the
per cent Obtained Was sanctioned By the plaintiff.