, 1869-07-21

"a case involving HI Important principle In the
d sa! r. F9ers rs; 4s; s1ps'es " ,a, was ds
Trenton, on tie 18th Instant The suit was brought
10 recover DAMAGES resulting from III oil laa.l
IL inycht ulron c1uayRgant representations ol the
pla!nii1. The Court held ihAt where frrrcsenta-
Of property, the entire lcss sustained mist 70
made good. Agents who are engaged IN the
EAlo Of bonds and siocks of incorporate!
OIL for mining, for railroads, canais hanks,
insurance, or other purpose, Projected and
under EAy, and who are n1uSluc na1J 1or1l
prpmisc1 Al TO the Tatuc Of the wOrks to 1nttucp
Subscriptions, mar mud II TO their profit to hud
this decision of tho New Jersey Court Of Appeals
iu remembrance. Agents who Induce the invest
ment OF capital on c1I1afaEant promises OF return
Of profits fror the in,etiurr nre certainty rs cu-
pae, and, It Is believed, llubc fur any loss
t3lntd Is party n TO should deceive In selling oil
Iand. lie who v III recklcssly Rs,e.t positive re-
suit In tie futnre+ which lie cannot know to I've
truc, Is criminal As he who asserts shat is false
responsible for daungcA,''
The joint stock principle tn financial enterprises
Recms 10 he ia!lDg Ito disgrace In England there
teipg nov no less Than 100 Joint stock companies
In process Of Iqullatlou In London alone, the
probable amourt Of loss involved being elo,h0o,-
Goo, The CourtF Of bankruptcy have been Kept
busy for the last three year, holding lnqucsts over
these deiuuct bodies, and seeking to agree upon
verdict as to the causeA The revelations thus un-
errthed are cc1tainJ anything but crc11ltsolc to
the bcasted integrity OF certain clasa Of British
mcrchautSs aud arc sufficiently formidable
TO stay the tongues OF fhose 30 loud IN
CenhuIe Of the great RcE OF integrity OF those
e-gcd In "AIncrIcan enterprise" There arc
c:xhuncst ucn, II heens, In England as elsewhere,
and develop themselves ~ Rlartnaly tn nnsncial
conne ec1tons there as here The number OF un1ted
liability companies Is fast diminishing, and those
itaI sull It11aiu IN G1Stcnce Ere regarded With
certain degree OF suspicion and distyIst~ The be-
ginning Of this reaction from the Iage for JOINT
stock concerns which prev n!sed there a few Jea1B
ago was In the failure OF the great t,m Of Over
end, Gu1ucJ d Co., one OF the graudeit
switdles that has been Known OF late
yea.z Another collapse, second only
IN magnitude to the Oserrnt, Carney 1 Co. fall
ulc, LIT certainly not second In rascany. vas that
OF ALARMED . DahAlnX Company" Of liverpool.
IN Insulation OF which The recent report IN the
Courts Of Daul1ursct ehows rome remarkable dis
cloe1lcA 1t s,atcs, says tic 1'hladclpuia Le!:co,
tint the eapltzl Of the bank was held IN so,nao
shEtct Of GO each, on which fl0 Was registered
Us paid- The remaining 60 has since been called
mp, with the following Tesu1:: e,t0o shares have
been paid In fulL AID LOO arc being paid By In
staimrnis- The largest class, however, n2mber-
tng l6 TOO, Is formed Of stls1cs 6t1ndtng In the
uA1nes OF retscns vhceo ntEal.s have gone into
eithcr bankruptcy or liquidation: the next largest,
19,sU IN number, nso rhnEcs tn the
E4NlCA Gl QNSeUtet4 OF upsuluttS,
from Enom notkin3 Eha.tttr Aas t<<H
tIfain<1 Tie explanation g.yen OF this dis
1ssTpu6 etnte Of things is TINT ONLY about 1900
shares were held By Iona fde shareholders. Tho
remaining 5000 s:uo5 IN ff n1mes a} a5etntuft1s.
41re1latar1 dni elrlt trlhout nea.s rts1a1res-
The latter had lent themselves to certain Of the
Directors 10 assttt In floating The bank, and these
Directors In return paid rp the Elo cali on these
nenuee hh&ses etth norsey drurr from the Soak'n9
| eorn1anv. Gnc OF tho Directors, who held h,a51
ahafet IN the hank. hl6 wno5c totM t.sotNt1rs
amounted Eeinos, had on15 asseta to the ta.ae Of
| -" VI the niac gentlemen whose nluaes ap-
| NAto on Lie prospectus Of the bank II Difcc-
| lors' orlJ two have discharged their itah.ty 10
| the cE.alc.''
NE fon1.JEly p -Ao1ry e44y II with cxrcp-
| Grns y o IT cs:ut Dt.csu1s1 nominal
and closed at LIN E.,rrinr 80; IA 1v ~ -,
C9sassEess :WAoo. The *. IL, IT fiTe.roai to
GoTsIpu3ents closed quie4 and etnaty D.x,-r, ~
doing ecottce1Able huisuc4e Ia TIE sy q cxlassis
pt7s k:ae tos tITTc1cJ. ~ - e1-*
Gssrss: Gsa2s5: :;5: ssT
Ses:S5. 4 i:I :1:! +
| Stir tond. dull: ,->~-u.,
"a sasaa;s.cc;.:H I'D ssT.
SW WIc.:nett.ss.:..'.. IL nc" Se''a easoaa.s. Is
o!a ,,s N tn.1: enaurr IN the temper Of ,rea
tap Gu tho sock ExchapEe late in the d.y Hnd the
43tlon wh!e the 1uAtkct haa AssHnsd fo5 snte Y.
cS. tn:Ia r ssiifsy Ia naeeoa 1a1s.. s,aAesy
wcax nd ftn sax per cent wtitc tho balance q tl.s
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