Memphis daily appeal. [volume] (Memphis, Tenn.) 1847-1886, 1868-12-24

SO1Atr h1-21h9 "a AANs En11l
amounts only are offered at the counter
Purchases Of S345 at nc, one of 500 }
769c, $I46 at ne, and S4S2 at nc, all by
dealers were reported. Taxpayers buy
at 796S0c. The demand improves daily
and will be active until the 1st.
There is some demand from eastern
parties for stocks and bonds butyf ;eoulC
learn Of no sales. City bonds sfe held a
52lc, but dealers having orders to ill art
limited to thst figure and offer 52c.
City Scrip is unchanged. We heard O
$1,000 taken by 2 deslsr st SOC and resolC
in small smounts at SIC There is q good
demand for both Scrip and ledger bal
ances.
Police Scrip is firm at 9S694c buying
Selling at 95@96c.
School Scrip is nominal. Buying al
90e. Selling st 93G95c.
Gold opened in New York to-day at
1S5 aud gradually declined. At2p.m. II
was 1913 Exchange steady.
In this market $500 in gold sold to a
dealer at lS4. Several small lots were
taken at l3491S4lc. Selling to custom
ers st 135e.
New York Central railroad stock has
been somewhat excited in the past few
day.. This wa caused by the announce
ment by the Treasurer Of the Central
company, 10 q card bearing date 2lst,
that at q meeting OF the Directors a scrip
dividend of eighty nor cent was declared,
also 8 cash dividend OF four per cent,
payable February %, 1863, on The Oh
stock and on the new scrip certificate
The scrip dividend is iss,ssS 20 each stock
holder, and is IA the form of a certificate
signed by the President and TrsssrreT ef
the company.
II declares that the owner is entitled to
eighty per cent Of the amount of stock
held by him, and that the same dividend
shall hereafter be paid thereon as is de-
clsred in the old capital stock, and that
the certificates may be at the option o.
the company, converted into stock
whenever the company shall be author
lied to increase It's capital to an amount
sufficient for such conversion. This div
idend was en- astounding surprise not on
ly to the msjority Of stock operators at
the exchange, but the many who were
supposed to share the confidence Of the
controlling oWnsr in the road. Some OF
the directors deny that at the close Of
business on Saturday they knew the div
idend was to be declared, and it is report
ed that the meeting of the Directors was
held late on Saturday night, or Sunday
morning, ct the house Of one OF their
number that everything had been pre-.
g. - aa~a-.AsaHa
OF the scheme, and the business YVES has
tily closed.
The famous suit involving the question
Of the binding force or contracts in gold,
arose between A. S. Abel & Co.
and the Chesapeake Bank, growing out o.
3 special deposit Of $4,000 in coin by the
firm named, in December, 1851, and which
was decided in the late Superior Court
Of Baltimore Judge Martini in favor
the plaintiffs, in January, 1856, it will be
recOllected, was at that time appealed
upon by the defendant TO the Court of APP
peals OF the State. The argument on the
appeal was had liz June last, at AnnapO-
but it wss not till the 9th day OF this
month that the Court of Appeals an
.ounced It's decision in the case, Mr.. JUS
tice Alvin delivering the opinion. That
opinion, while reversing the decision OF
the lower Court, remands the cause
under a PTOccdcndO, that IL, sends It
back for a new trial. Thus there is really
no result. Without reference to any ques-
ton as to the constitutiouality Of the
.egsl-tender act, the plaintiffs rested
specifically upon the facts n circam-
Of the case, the proofs thst they
brought forward to show a special depos-
as agreed upon by the bank officers
and IS msde by the agent OF A. s. Abel
& Co., as testified by said agent, and the
usage Of banks in regard to special de-
TO pay in sind, etc, the entry in
the plaintiffs bank book being cash,
'c0inl $3000.' As understood, 1t is Oh
The naked question Of q special contract
that the new trial Is to rest, the Court Of
Appeals having determined that even if
The Legal-tender act be constitutional,
contracts to pay il gold or silver are en-
according to their term and judg-
may and must be rendered on
them for payment IL coin. The opinion
Of the Court Is said 10 be quite lengthy.