The New Orleans crescent. [volume] (New Orleans, La.) 1866-1869, 1868-07-21
Asm @rIsans Ntonsp Warstt.
ox,soxsr OFFICE, No. % O1xy srxxxf. I
Monday Evening. July 20. 1853 !


The money market continues at stand still.
Cold opened at New York this morning at l43s
against 143t, the closing rate Saturday. At 1850
A. NJ it was quoted at l43t. and at P. NJ. 1t closed
AT l43I. The movement In this market has been
materially impeded by almost incessant rains
throughout the day, and with somewhat stiff ruling
prices operations have been confined to the APP
pended amounts, viz: $4,000 and $4,000 Gold at
1922 and $1,000 do. at l43. Sales of Silver have
been confined TO dribblets, and we now quote
Gold l424@l42i, American Silver coin l369l364
and Mexican dollars l46Ql46a.
FOREIGN EXcHANGE-Rates of Sterling and
Francs indicate downward movement, aud the
remittance demand to day has been wholly sus-
pended, while The supply of commercial bills has
has been Of an unusually restricted character
throughout. No sales worthy of special notice
have transpired. and We BOW quote bank Sterling
1853. clear bills l57@l574, bill of ladng bills 1850
1864, bank Francs 3.573 and commercial do. 800
as $50.
DOMESTIC ExCHANGE-There is no alteration
whatever to refer 10 in the movement under the
above heading. Offerings of commercial sight
and short sight still continue but little better than
nominal and the inquiry on the part of remitters,
as is not unusual on Mondays, has been OF very
restricted character Quotations keep well up
however, and the following report Includes the
total purchases by banks and bankers during the
day. viz: $1,000 New York commercial sight at
par, 10000 do. at y cent. premium, $4,000 do
at d cent. premium, 800 900 do. at sic b cent.
PREMIUM and $500 do. at u cent. premium.
We still quote y cent. premium at bank,
and t04 ~ cent. premium out OF doors for
sight cnecks on Northern cities.
UNCURRENT NoTEs AND SECURITIES
tiops in CITY and State notes have been of q very
limited character to-day. There was no falling of
noticeable in the supply of either, but the move
ment ives interdicted by the constant and unusu
ally heavy rains which prevailed from the opening
to the close of business. Bank of Louisiana notes
are still wholly neglected and there is no i'm
provement whatever noticeable in the general
iun Of securities. We annex particulars of the
actual sales for the day as follows, viz: $1,000
and $1,000 city notes $50, $4,000, $4,000, $4,000 and
$40 600 90. at $50, and $4,000 do at 80 u cent dis
count, $1,000, $1,000 and $4,000 Louisiana State
notes at &c., $4,000 do. at 654c., $4,000, $4,000 and
$4,000 do. at &C., and $40 900 do at 664c u dol
SPECIAL DIsFATonss.-We are indebted to
the Western Union Telegraph line for copies of
the following private dispatches received from
that route to-day, viz:
Neto York. July 20--l0 A. Mold opened at
14Sl. 1880 A. Mold l4S3. Cotton market
quiet bat heavy; middling 3l4932c., Mobile SAFE,
Orleans 329c. Sterling heavy. 3 P. M.-Gold
l43l. Cotton market dull; prices unchanged.
Sales to day 40 Obales. Sterling ll03@llOl.
Liverpool, July 20.-ll:l5 A. M.-COtton market
quiet and steady. Estimated sales 10000 bales.
Uplsnds Id. Orleans IL Id. LEO P. M.-Cotton
nominaly unchanged.
London, july 20.-1l:l5 A. M.-Consols 943G
944 for money, and 943 for account. Bonds TAG
72s. LEO P. M.-Cons0ls 943CG94S. Bonds 72s.
A REMARKABLE INSURANCE CAsE.-James 7.
Campbell, a citizen of South Carolina, instituted
an action against the Home Insurance Company Of
New York, upon policy OF insurance effected at
the agency Of the company in Charleston. The
defense set up was that after the loss but before
the adjustment and before suit in South Carolina
the claim had been attached by q creditor in New
York and the money paid over by the company
there to the executor of the attaching creditor.
The grounds taken in reply TO this defense we're
as follows: LIST, that the record of the attach
ment proceedings produced in evidence was in
complete secondly, that the claim of the assured
against the insured upon an open policy, after
loss before adjustment, is not attachable in these
United States, unless expressly made 50 by local
statute; thirdly, that il the intention OF the
legislature, in passing the act in 1856, to place
foreign upon the footing of domestic companies,
in all that related to their contracts WITH the cti
zens of South Carolina and the liabilities sccru.
ing thereon, and to give to the policy holder the
prote etion OF the local laws, and the conven-
ience of domestic forum; that the effect
OF thus demonstrating the foreign corporation as
to this class of its contracts was to render an in
debtedness or liability incurred upon a policy
effected at the agency here debt or liability of a
strictly domestic character due from one citizen
Of the State TO another, and susble in the dOmes.
tic forum that the State Of South Carolina, hav-
ing thus seen fit to locslze these foreign corpora.
tons, there was no principle of law or comfy
which required would justify court sitting IN.
der the Authority of this legislation to hold that,
notwithstanding these anxious regulations by a
competent authority to keep it at home, the debt
or liability when il arises is a foreign debt or
from debtor in a foreign jurisdiction, and at.
tachsble there upon the common principle Of pro.
perry, which the citizen Of one state subjects TO
the sovereign authority of another State, by vol
unfairly placing within the territorial Jurisdiction
of another State.
After a trial of three days duration, the jury
returned verdict for the amount of the claim.
Brokers COMMIssIoEs.-The rights of brokers
to their commissions under equitable crcum.
stances were tested last week at Baltimore in the
court of common pleas, before Judge Geary. The
case was that of Thomas G. Yearly VS.. Sophia E.
Schwarize, and the circumstances were as fol-
lows: The defendant had placed property in the
plaintiffs hands for sale, with special instructions
as TO price, etc. 1t was commended by defendant
that plaintiffs authority had been revoked, but
this point was found in favor Of plaintiff. The
plaintiff procured a purchaser, but defendant
took the negotiations out Of plaintiff 8 hands, and
closed the sale herself at $500 per acre, instead OF
$1,000, which plaintiff had been instructed to ask.
The points determined were that the broker could
not be deprived of his commissions on the ground
that the defendant consummated the sale, after
having svailed herself of the information and ser
yices of the nlainiif nor the defepdant avoid her
liability on the ground that, by her own act, the
property had been sold for a sum less than she
Instructed the plaintiff to accept. The verdict
was in favor of plaintiff for 1912 81, the amount
claimed.-[New York Real Estate Journal.