Nashville union and American. [volume] (Nashville, Tenn.) 1853-1862, 1858-10-06

go acre warrants 60 g
The Eufaua (Aa spirit the ssth u learns that $780,
COO Of the stock Of the Eastern Of Alabama taken,
and fifty per cent that has paid The
Bank Commissioners have in safe keeping upwards Of slO0OcOn
gold which viii be turned Directors they
elected The Spirit ventures the opinion that there
been bank organized safer basis than the Eastern Bank Of
Alabama Thelst of ocholderss Of the very best character,
represents thee million Of dollars worth Of property
The New York Herald Of the Cd says:
The cotton market active yesterday and the sales embraced
about 1850 bales chiefly in tnsu that sold on the spot closed at
c for middlng uplands Flour was dull and closed de-
cline Of about We 9e per bbi of many ana espe
moderate Corn less buOyant while sales fair
7H74c Mixed with small lots Of prime 75c,
white 1t s yellow az sc Jersey yellow
buoyaH holders rmer in hesr views while sales
SIS asked. Sugars steady with sales Of about 800 hhds
Cuba muscoyado chiefly within the range Of &C. and IS bxs
shed the following prices for their refined goods for the LIST Of
October They have reduced The prices for their hard and soft
The demand for leaf tobacco has taken better
for the not only rmer but higher judge
from present appearances look for fair and steady tade
established prices. Mr. ador in his monthly circular
follows Prices Of the better grades, suitable for
manufacturers firm for heavy shipping leaf the demand
is Light st holders show but disposition to vary much
nprices We continue to quoe-lugsr common 9aosc,
good 9lOze, fine l2e selections lSg l4c quite lively
trade has up for seeda the trade laying IN liberal sup
plies for their fan Stocks added to which good demand for
port trade tended sn prices and breed renewed confidence in
ue arcie Nearly le "hoe crop OF anu c0uus
abe Ohio seed leaf has been taken and mostly sold in Europe
than expected in the face Of the reports Of such large yield
Of the previous crop Connecticut wrappers selling in
ming lots at 1902 o I3G6c regard the present crops,
the statements last issue fully confirmed The yield in Ken
lucky viii be- il not large as last year crop Of more saa
tory quality. The Virginia and Maryland crop will fall much
below last year in quality and quantity The crop Of
f curing will be good The Ohio seedIea crop will be mixed
and in Penny little good will be packed The
yield Florida larger and finer than last years. but prices will
likely rule high.
An important case has recently been tried at Liverpool before
Baron Martin and special jury BY which the directors Of joint
stock companies who make fraudulent reports Of their AFFAIRS
declared liable in damages those believing these reports
induced purchase the company the particulars of which
find reported in the New York Journal Of Commerce.
appears the action brought by shareholders who had
been induced the Liverpool Borough Bank the faith of
report published in july 1851 months before the bank
became nsolvent four readers will recoect that this the
first banking institution Tritan that gave way the
financial crisis Of last year, Mr. Dixon, the defendant
of the managing directors Of tho hank and must necessarily have
had thorough knowledge Of its affairs. 1t proved that
meeting Of the directors for the purpose Of making report be
laid before the propretor their annual meeting Dixon stated
that the situated to be unable make dv
July other shared his opinions
report prepared and printed which the plainly
told, and the payment Of dividend srenUousy
mended Ber however, the report circulated Of the
directors thought that sit might be dangerous in the then state
bank, the excitement that might produced by
declaration Of DIVIDEND and adoption arerthough the
report withdrawn and cancelled fraudulent
substituted which twas that existing capital the
company f1OOJOO that the profits Of the year
fl5OOO that the fund amounted flO7 that
the business Of the bank only admitted dividend Of
per without encroacng the capital With admirable
ankness the report acknowledged that the bank had sustained
such heavy losses that the entire fund would be required
them good that in Of this fact the directors had
considered her duty reduce the dividend to the
rate Of five per cent per anuum."
1t has been eocusiTey proved that, time this eportwas
made, not only untouched capital Of a million
profits we're, consequently myth the payment dy
the profits deliberate asehood Mr. James,
counsel pllintG frcby said some complete
desolaon when made this deceptive state
public. 1t solely the faith Of this
plaintiffs bought the Company shares In the month Of
October following closed its doors hopeless
uptcy and the plaintiffs beside losing the full Of their
ares have been since made pay call Of Is each share
misrepresentation contained the report the damage
lone to the plaintiffs, brought
relied on following principle law, which,
Martini one abe judges England thorough
with commercial law, and Liverpool special jury
nave admitted by their verdict:
undertakes represent existing fact that
does existing whereby
other induced alter his condition for the he much
,ase."
1t would seem that the foregoing sound law. It certainly
sound sense and We hope will by the superior
England which appeal hos been taken. 1t butust
that the managing directors company should personally
whereby parties may involved in loss Were otherwise,
opened for the commission Of frauds Of the most
and dangerous character If the principle Of the Liver
pool sustained directors will be careful how they
sanction rosy of their affairs, and in
telling TRUTH however alarming it be- They viii be
taught the practical that onesty the best policy and
rejoice the first verdict in the Of Scott
rs. Dixon.
Markets by Telegraph.
N.ORLEANs, 5-Cotton sales $500 bales; Addng I29
I2l Good Middlng l2z9125S; Sugar dull, G; MOasss 3d.
Flour dull 5OO CO. Mess Pork l7oO Freight Cotton
Liverpool seventeen thirty seconds to Havana ZIG.
NEW YORK, Oct. 5-Coon firm, sales of 1900 bales; Corn
hite 3 yellow, 95; Bacon quiet, $685. Linseed Oil
81; Sugar firm, 63IG75I.
C1scrsAr Oct 5FIOu- dull; Whisky ~ Bacon Shoulders
buOyant 51l97ai.