Daily Ohio statesman. [volume] (Columbus, Ohio) 1855-1870, 1866-03-17
FROM NEW YORK.
Value of Treasury NOtcs-gmpOrl
nnt Decision.

Value of Treasury NOtes-gmpOrt-
ant Decision.
NEW YORK, March l6.-An important
decision on the subject of the value of
United States Treasusy notes. making them
equal in every respect, in legal contempla-
tion, to similar denominations in gold, has
just been decided by the General Term of
the Superior Court. The agreement in the
case was to pay freight money in gold and
silver, on delivery of the cargo in New
York. The plaintiffs, John Wilson & Co.,
owners of the British ship Atlanta, in Janu-
ary, 1868, chartered the vessel to Gillanders,
ArbuthnOt & Co., of Calcutta, and the cargo
was consigned to Edwin ID. Morgan and
others of this city. TIE vessel arrived here
in June, and the freight money, amounting
to thirty-twO thousand six hundred and
thirty dollars, was rendered in Treasury
notes. The offer was refused and payment
in specie demanded. This was refused, and
the controversy carried to the Superior
Court; and the decision, written by Judge
Mcneil, lays down the Jaw to be, that all
debts can be satisfied by tender of pay
ment in United States Treasury notes.
Former adiudications have merely estab-
lished that contracts made before the pass
age OF the act of 1862, and providing for
payment ia the legal currency of the coun-
try, could be satisfied by payment in United
States Treasury notes.
A HHOnx ON the Spanish A nth critics.
An amusing account of hoax practiced
upon the Spanish authorities here a few
days since, with the connivance of the
Chilian Envoy in this city, is published. A
letter purpOrting to be intended for the
Chilian Minister at BuenOs Ayres, and
nj n an init Nc n
Mackenna's signature, was dropped in the
street at point where two Spanish spies
were passing, who picked itup. The letter
concerning the movements of imaginary
Chilian privateers-solves the mystery of
the sudden departure of the two Spanish
war vessels, the Carmen and the Isabel
Lacatilia, from this port. The expense to
the Spanish Governments of the fools errand
upon which these vessels were dispatched,
owing to the ruse played by the Chilian
Envoy, is estimated at thirty thousand dol
lars.
Financial.
The Commercial says: The stock market
is less active but firm. The speculative
movement is extending over more stocks.
Governments still strong and active, espe-
cially 7-3O The case in money increases.
ACKNOWLEDGEMENTS are steadily augmenting
and it is found difficult to employ all the
balances. Brokers have no difficulty In bor-
rowing on call at per cent. though many
lenders still ask 6per cent. The bear moves
freely. Some large lines are held at 81 per
cent, but do not find buyers, z per cent.
being the minimum for prime names good
pass at 500 per cent.
The gold markets. again weak apparent
ly owing to the fact that the bears have
about ceased buying their short contracts.
Quoted at 1905 @l304.
-, Foreign exchange is extremely dull.
There is an enlarged supply of cotton bills,
the rates for which are correspondence
low and very irregular. Sterling bills range
at l052@l07. Paris do 80. Bankers 6 days
sterling is quoted at 1881, but we hear of
no transactions at over l0S116, and probably
los may be considered the rate for heavy
amount. .r.,. -r.-.