The New York herald., 1864-11-28

made more comprehensive and productive. by the
increase of existing and the introduction Of new
taxes; while the latter may be made TO contribute
more to the gold revenue by the reduction Of GER
tain duties which now impose onsrous restrictions
upon certain branches of trade. To neglect these
legislative remedies, or to adopt mere palliative
system. instead of complete and effective meas
urcs, will be to court that incalculable disaster in
the future which we have yet the power by
judicious development aud economy OF our re.
sources 10 avert.
The trial Of the case Of Morgan va. +. +.
Jaudon in the Circuit Court OF Kings county, on
Friday last resulted in a verdict for the plaintn
for the full amount claimed ($2 500. together
with interest and costs Of action. The relations OF
the parties were those of broker and customer,
pledger and pledgee, and the circumstances were
of the usual character upon which suits OF this
kind are brought against stock brokers by specu-
lators operating upon margis, and who feel
chagrined at having their stock Id at sacrifice
without their consent, under any rcumstances.
The case of Stllwell VS.. Meigs rece.i'ly tried in
the Supreme Court, in this district. . similar
one, with q similar verdict "a also. that of Brass
vs.. White and White in 1868. The rights OF the
pledgor were equally sustained j. the following
vs.. Little e Comstock, 443); Brown VS.. Ward
6 Duer, 660); Lewis vs.. Graham a Abbott. 1867;
Williamson vs.. Little e New York Comstock);
Wheeler vs.. Newbold (Court OF Appeals 1867, l6
New York;.
In March last the plaintiff employed the defend.
ants to purchase and sell stock for him, on the
usual margin Of ton per cent, and on the 10th day
of April. the market value Of the plaintiffs stock
having been SO far reduced by . panic on the
Stock Exchange that the margin was used up, the
defendants sold it and placed the loss to the debit
Of the plaintiff The defendants alleged that they
gave plaintiff notice to renew the margin. and in
default of his not doing 40 by specified day the
stock would be sold and they claimed that the
plaintiff understood that this was the usual custom
among stock brokers. The plaintiff, however, de-
MED having received any such notice.
The somewhat severe warnings which commits.
sion stock brokers have received in this way is
likely to make their business relations with Gus
toners moro formal and distinctly understood, but
not to make any difference practically in their
dealings with stocks bought and carried by them
for other parties. They are likely to become more
exacting of large margins in the first instance, and
more prompt in making demands for fresh margin
money to keep the original percentage good when
it has declined, and coupled with this notice Of
sale in the event of noncompliance within spe.
Gifted time Meanwhile, if the delay by reason Of
the course OF the market is likely to involve them
in loss, it is not probable that they will hesitate
about privately selling out such of their customers
a. may be doubtful at their own risk-a usage
which has always been common among them, the
art Of turning stocks being, however. secret
of which customers are supposed to have not the
slightest suspicion.
The total imports at New York for the week
compare as follows with former rcturns:-
Week snd's Nov. IS. Nov. IL. Nov IL. Nov. 4.
Dry GOODS. SsIo.3A soe.s7s l.oos.1o1 SAL ,esS