New-York daily tribune. [volume] (New-York [N.Y.]) 1842-1866, 1860-01-31


lave TO sell Is going or without interruption from
his cause and twenty locomotives for Southern
,ailIoa1s have Just been ordered from New-Jersey
ease of much interest to commercial men.
inyol,ii large suID, tried last week at nis;
prius tle assignee of White, Stevens & Co, aganst
(. g. w. Welsh. The latter are commission mer.
tlaDts, aud receive and sell large Quantities Of
sugars On The IIth Of July, 1857, they sold 70
White, Stevens e. Co., "a cargo amounting 10
Sal 1871 sc, taking in payment nine notes, having
aLout f,ur months 10 run The latter subsequently,
sold portion Of The sugar, which remained stored
IN Mcssrs Weshs premises, and it was by them
delivered wioat QUESTION to the purchasers but at
10 time had they tho keys Of the storehoase, or
TofsefsiOn in any other way. The crisis OF October
aeItook " bite, Stevens a. Co., in common with
meny others, and finding themselves much embar-
rasstd they called their creditors together and the
WchLas attended. statement of their assets and
liabilities VAS Produced read, and atterward handed
round 10 the creditors. The sugars unscld were
nan ed 10 the statement and the notes gwen IN pay
mept for them. Mr. Stevens then mentioned that
lie had lot OF sugaIs at Weths. The latter gentie-
en- made no objection TO these sugars beng Goa
sidclcd Part Of the assets Of White, Stevens q Co. =
but at second meeting Of creditors, held 10 No
ven ber they gave notice that they intended TO mold
the portion It'll in their hands as security Tor tno
payuent Of Eve of the notes. four having been s6,d
his notice created much surprise among the creoi
t0rs, as il Was the first intimation they had nsa
II suoh an intention. White, Stevens d 70.
having assigned. the assignee demanded tho
delivery OF the sugars, but the Messrs. "ekf
refused TO respond; wbereupon the present
action was brought by the assignee Inc defence
failed 10 prove that any agreement had al any time
Teen mace with White, Stevens d Co, by winch
,bev we're authorized to hold their sugars until the
no,., were paid, or as security therefor. On the
contrary. IL was shown that Whenever White, Ste
vcrs 4 Co. sold lot it was delivered by descendants
I'm ihe simple order of the former Counsel Tor do
feIdants argued that they had sold the sugars,
agreeing 10 deliver, and White, Stevens q 20:
agreeing TO pay. When that part OF their contract
fails lie law gives 10 the seller the right to say-as
YOU have not fulfilled your part of the contract We
are relieved from ours. Such being the ease, We
have rot contaminated our part of the contract;
Tut hen White, Stevens g. Co., on the 10Th OF
septcn Der, said that they would not pay for the
gu sals. we were absOlyed from our part Of the
agreement. Judge Strong charged the jury, that
tie sugars never having passed out OF the defend
ants possession, aud being yet in their hands at the
tine Of plaintiff y failure the former were unques-
tonabIy entitled to hold them for the amount yet
DUE their having sold some of the notes, made no
difference The whole charge was in favor OF de-
fe,dants for whom the jury gave verdict ms
being a arestiob never before tried here the verdict
has created great surprise; and as the amount 10
issue ia large the will be taken to toe supreme
Court.
The Auditor General reports to the Legislature
the condition OF oil our State banks up to Dec. l.
ls59. He shows that our nineteen city banks bold
u,otested paper to amount Of $3l7 S32, and OF an-
cure mt traps of various banks to amount Of $l3S-
| l5s-a total OF $455,9S0. The sum held by all the
lapks in the State amounts to 81 46l 1913, most OF
which may be considered legacy Of the times thak
tried mems souls in 1857. 1t is well known that
in addition 10 these acknowledged losses, the banks
are carving large amounts Of renewed paper,
| much of which must ultimately take its place
among the Lopelessly protested Yet, IN the face
Of these losses, they are making dividends almost
up TO flush times. The coal region appears to have
suffered most, the Miners Bank at Pottsyille hold
ing $685. more than any other country bank,
anC exceeded by only one city bank.
Some of our City Railroad spectators who have
DIPPED deeply into these enterprises are feeling
touch Of the blues. Dividends are not so pleth0rc
as they anticipated, and this, the first Winter OF
their discomfort, is playing expensive hob with the
tracks. The imprisoned frost makes sad havoc
with rail and pavement as it escapes, throwing up
tie and Outlying the latter under the tread
of heavy teams. his unlooked-for matter VIII In
voye heavy OUTLAWS for repairs, and stockholders
begin Ia fear that whatever money there ever was
in there roads has been already got out by these
who first engineered them through. The companies
are obliged TO keep the streets IN order
The mania for these roads being nearly played
ont, new one Tor building market-houses has sue
ceedcd. The Legislature is literally flooded with
applications % charter companies to build new ones
costing $t0,0 90 and upward, and if all granted,
the chance is that profits will be SO diluted that
very few will pay.
Some of our interior papers bring forward our
towusman Henry e. Carey, for Vice-President.
They say his casting vote on the tariff would DO
safe enough for rennsy lvania to trust him. thiak
so too. But we live in times which bring only
the small men uppermOst.